Tech Up Ahead of Earnings -- Tech Roundup

FeaturesDow Jones Newswires

Shares of tech companies rose ahead of earnings. Apple should see a "supercycle" of iPhone purchases, but not until early next year, said analysts at Morgan Stanley in a research note.

Some large tech stocks are trading at elevated valuations compared with the broad market, but that may be justified by their elevated growth rate, according to one money manager.

Continue Reading Below

Chinese e-commerce giant Alibaba Group said it will nearly triple spending on research and development, to more than $15 billion over the next three years, as it seeks to keep pace with Western rivals such as Alphabet and Amazon.com.

Intel launched a program intended to help financial institutions and insurers detect criminal activity, as the chip maker pushes deeper into the software business. Chip designer Qualcomm was fined about $773 million by the Taiwanese government.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

October 11, 2017 16:51 ET (20:51 GMT)