Shares of tech companies rose as Apple's product launches were generally well received. "We found the new iPhone launches generally met high expectations," said analysts at brokerage Nomura Securities, in a note to clients. "Apple is launching a suite of high Average-Selling-Price, powerful, lovely new phones into a loyal and hungry installed base." The Nomura analysts also anticipate strengthening in sales of Apple Watches, given advances in the Series 3 model. Similarly, analysts at brokerage Morgan Stanley said the "iPhone supercycle is underappreciated by the market," suggesting that a wave of upgrades will accelerate earnings growth for the tech giant. Apples shares closed 0.75% lower Wednesday.
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(END) Dow Jones Newswires
September 13, 2017 16:50 ET (20:50 GMT)