Tech Higher on iPhone X Excitement -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies rose as disappointment about Apple's iPhone 8 launch gave way to excitement about the premium iPhone X.

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Apple shares rose despite a report of a production snag with components crucial to its new phone's facial-recognition system.

Shares of Twitter rose after the social media company said it was doubling the length of tweets to 280 characters for some users.

Roku, which makes a set-top box for streaming television, is expected to price its initial-public offering at a level that would value the company at $1 billion.

Analysts at brokerage Morgan Stanley said the "digitization" of India could lead to a "multitrillion dollar investment opportunity." The Indian leadership's decision to biometrically register every citizen and promote bank accounts that can be easily accessed has caused rapid growth in online banking and other digital services that looks set to continue, the brokerage said. "Coupled with rising smartphone penetration, likely doubling from 300 million to nearly 700 million by 2020, these changes are driving India's digitization," said the Morgan Stanley analysts, in a note to clients. "We expect a step change in India's per capita income, banking system and stock market performance over the coming years."

Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

September 27, 2017 17:09 ET (21:09 GMT)