Tech Up Ahead of Earnings -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies rose ahead of earnings. Apple should see a "supercycle" of iPhone purchases, but not until early next year, said analysts at Morgan Stanley in a research note.

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Some large tech stocks are trading at elevated valuations compared with the broad market, but that may be justified by their elevated growth rate, according to one money manager.

Chinese e-commerce giant Alibaba Group said it will nearly triple spending on research and development, to more than $15 billion over the next three years, as it seeks to keep pace with Western rivals such as Alphabet and Amazon.com.

Intel launched a program intended to help financial institutions and insurers detect criminal activity, as the chip maker pushes deeper into the software business. Chip designer Qualcomm was fined about $773 million by the Taiwanese government.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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October 11, 2017 16:51 ET (20:51 GMT)