Tech Up Amid IPhone Anticipation -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies rose amid anticipation of Apple's Sept. 12 launch of a new version of its iPhone.

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Gains for Apple supplier Skyworks helped the chip sector continue its bull run, with the Philadelphia Stock Exchange Semiconductor index nearing its highest ever level and up more than 20% for the year to date.

The gains came despite a weak outlook from one chip maker. Semtech expects to report third-quarter revenue of $145 million to $153 million, shy of the average Wall Street target of $159.9 million.

Chip makers have benefited from the sense that consumers are about to upgrade their cell-phones en masse with new chip-heavy equipment from Samsung and Apple.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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August 31, 2017 16:37 ET (20:37 GMT)