Tech Down Amid IPhone X Demand Concerns -- Tech Roundup

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Shares of tech companies declined after early customer surveys and media reports indicated that sales of the iPhone X will lag ebullient Wall Street estimates. The iPhone X, iPhone 8 and iPhone 8 Plus combined for 69% of U.S. iPhone sales for the month ended Dec. 3., with the remainder going to older models, according to a survey of 300 iPhone buyers by technology-analysis firm Consumer Intelligence Research Partners, as reported earlier. That was a smaller portion of overall iPhone sales than that represented. Shares of major suppliers in the Apple "ecosystem" such as Micron, Universal Display and Broadcom, also fell sharply. Uber Technologies agreed to sell its U.S. subprime auto-leasing business to startup car marketplace, The Wall Street Journal reported, bringing to an end the ride-hailing giant's failed attempt to attract new drivers who struggle to afford dependable cars. Shares of Tesla fell after founder Elon Musk said the electric-car maker anticipated a stronger growth rate for its energy-storage and solar-power unit than for its car-making arm.

-Rob Curran,

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(END) Dow Jones Newswires

December 26, 2017 17:20 ET (22:20 GMT)