Tech Shares Rise Traders Hedge on Growth View - Tech Roundup

FeaturesDow Jones Newswires

Shares of tech companies rose as strength in semiconductor stocks offset weakness elsewhere.

Shares of Advanced Micro Devices and Nvidia were particularly strong after analysts at brokerage Mizuho said the chip makers likely saw strong demand in the June quarter.

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Tesla shares fell after the electric car maker's quarterly sales lagged behind Wall Street targets because of production constraints, casting doubt on its ability to meet ambitious goals for sales of its reasonably priced Model 3 car. Tesla's shares had risen almost 70% for the year to date up to Wednesday because of optimism about the Model 3's prospects.

French Finance Minister Bruno Le Maire said he would announce "significant" asset sales in the coming months to finance President Emmanuel Macron's election promise of a 10 billion euro ($11.35 billion) fund for investment in disruptive innovation.

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

(END) Dow Jones Newswires

July 05, 2017 16:38 ET (20:38 GMT)