Technology Sector Update for 11/19/2018: ZAYO,AAPL,SOL,BX,KKR

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Top Tech Stocks

MSFT -3.79%

AAPL -3.83%

IBM -0.80%

CSCO -1.73%

GOOG -3.23%

Technology stocks were falling hard Monday, with shares of tech stocks in the S&P 500 losing 3.5%, while the Philadelphia Semiconductor Index was dropping 3.2%.

Among technology stocks moving on news:

(+) Zayo Group Holdings ( ZAYO ) was almost 10% higher this afternoon after a Bloomberg News report that said the bandwidth infrastructure company has attracted buyout interest from several prominent private-equity firms, including Blackstone ( BX ) and KKR ( KKR ) since detailing plans to split into two publicly traded companies.

In other sector news:

(-) Apple ( AAPL ) was sliding almost 4% following a Wall Street Journal report that the technology giant has trimmed production orders for its three recently released iPhone models amid slower-than-expected demand. According to the Journal, Apple has cut its production order for the iPhone XR by up to a third from its initial projections expecting to sell nearly 70 million handsets.

(-) ReneSola ( SOL ) declined Monday after the solar-energy reported Q3 net income and revenue below the comparable quarter last year. The company earned $0.01 per share during the quarter, down from $0.02 per share a year earlier.

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

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This article appears in: Technology , Commodities
Referenced Symbols: ZAYO , BX , KKR , AAPL , SOL

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