Shares of tech companies ticked down as traders hedged their bets on the outlook for sales of Apple's iPhone X. Analysts at brokerage Morgan Stanley and elsewhere predicted that there would be a "supercycle" of phone upgrades, given the new features offered with the high-priced, high-margin iPhone X. But estimates from two market-research firms indicate customers are buying the X and a pair of other new offerings at about the same rate as they did with new models in the past two years, short of the iPhone's 2015 peak, The Wall Street Journal reported.
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(END) Dow Jones Newswires
December 22, 2017 17:14 ET (22:14 GMT)