Tech Up Amid IPhone Anticipation -- Tech Roundup

FeaturesDow Jones Newswires

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

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.

Continue Reading Below

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

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

Continue Reading Below