Apple Unveils New IPhone -- Technology Roundup

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Shares of tech companies firmed as Apple launched the highly anticipated new edition of the iPhone.

The iPhone X, as widely expected, is equipped with facial recognition software and a larger screen. The gadget maker also unveiled a new version of its Apple Watch product, which can now be used independently of an iPhone; previous versions of the watch required Bluetooth or WiFi connectivity with a phone in order to access email and other content. The new iPhones are also designed to support applications in "augmented reality"--the most popular of which so far has been Nintendo's "Pokemon Go."

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"We liken the impact of AR to the launch of the Apple App Store in 2008," Morgan Stanley analysts wrote in a research note. "While the iPhone introduced a user-friendly touch interface that revolutionized mobile phones, it was the app store that allowed users to consume and create information in a way that that was optimized for the smaller form factor, expanding the range of computing functions and therefore demand."

A top cloud-computing executive at Microsoft in China has been hired by JD.com, the e-commerce company that is set to compete with U.S. majors in cloud computing.

-By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

September 12, 2017 17:28 ET (21:28 GMT)