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Technology Sector Update for 06/11/2019: CREE, AVGO, AAPL, ACLS, MSFT, IBM, CSCO, GOOG


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Top Technology Stocks:

MSFT: +0.82%

AAPL: +1.18%

IBM: +0.73%

CSCO: +0.50%

GOOG: +1.12%

Tech giants were rallying pre-bell Tuesday.

Early movers include:

(-) Cree ( CREE ), which was declining more than 4% after saying it now expects sales to come in the range of $245 million to $252 million, below its previous forecast of $263 million to $271 million and less than the $268.6 million average analyst estimate compiled by Capital IQ.

(+) Broadcom ( AVGO ) was up over 4% after announcing a two-year deal to supply Apple ( AAPL ) with radio-frequency ( RF ) front-end components and modules for its smartphones, tablets and watches, and to maintain and allocate to them sufficient manufacturing capacity and other resources to make these products.

(-) Axcelis Technologies ( ACLS ) was retreating by almost 2% after saying it sees Q2 revenue guidance to be about $75 million, compared with the previous guidance of $80 million, due to the delay in the shipment of a high energy system to a Chinese customer that was originally slated for late June. It also said it expects to post a loss during the quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.





This article appears in: Technology , Commodities
Referenced Symbols: CREE , AVGO , AAPL , RF , ACLS



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