Tech Down Amid Valuation, iPhone Concerns - Tech Roundup

Shares of tech companies fell as concerns about stock valuations and iPhone sales persisted. Apple said it would slash the price of replacement batteries for iPhone 6 and models that followed it after reports that the phones' performance was designed to slow when batteries aged. "The technology sector remains an overweight recommendation...despite its 2017 gains, given the combination of solid global demand and the large trove of profits held overseas that now have the opportunity for repatriation at attractive rates," said John Lynch, chief investment strategist at brokerage LPL Financial.

-Rob Curran,

(END) Dow Jones Newswires

December 29, 2017 16:27 ET (21:27 GMT)