Markets

Sector Update: Technology Shares Flat to Higher Monday

Top Technology Stocks:

MSFT: flat

AAPL: +0.56%

IBM: flat

CSCO: flat

GOOG: +0.74%

Technology shares were generally flat to higher in pre-market trade Monday.

In technology stocks news, Apple ( AAPL ) is just higher in pre-market trade after Barron's publishes a positive story on the company over the weekend.

Barron's believes AAPL will benefit from the new iPhone 6, which is expected to be introduced on Sept. 9. It cites a survey from Robert W Baird showing that many users are interested in buying the new phone.

And, China Mobile Games and Entertainment Group ( CMGE ), which develops smartphone games, reported Q2 results that were ahead of the Street view.

Basic and diluted earnings per American depositary share, were RMB1.76, or US$0.28, and RMB1.66, US$0.27, respectively, compared with basic and diluted loss per ADS of RMB0.66 in Q2 2013. The Street expected earnings of $0.22 per share, according to Capital IQ estimates.

Finally, Sky-mobi ( MOBI ) reported Q2 revenues that increased over Q2 2013, fueled by growth from the smartphone business.

The China-based mobile application developer reported Q2 earnings per ADS of $0.04 and total revenues of US$27.4 million, or RMB170.2 million, an increase from RMB125.2 million in the prior year period. Analyst estimates were not available.

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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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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