Technology Sector Update for 04/16/2019: VUZI,QCOM,WDC,TSM,AAPL,EA

Top Tech Stocks

MSFT -0.37%

AAPL +0.14%

IBM +0.72%

CSCO +0.57%

GOOG +0.49%

Technology stocks eased from their prior session highs Tuesday, with the shares of tech stocks in the S&P 500 adding nearly 0.4% in value shortly before Tuesday's closing bell while the Philadelphia Semiconductor Index was rising over 3.0% supported by Qualcomm ( QCOM ) dropping all litigation and signing a licensing agreement with Apple ( AAPL ).

Among technology stocks moving on news:

(+) Vuzix ( VUZI ) was ahead over 5% late Tuesday after the maker of wearable display devices reported improving production yields and rates, adding it can now offer "near-immediate" delivery on new orders through its website. The company also is continuing to boost production levels and reducing costs over the rest of 2019, it said.

In other sector news:

(+) Western Digital ( WDC ) rose 4% after a Deutsche Bank upgrade of the data storage company to buy to hold. The brokerage also increased its price on the company's stock by $15 to $60 a share.

(+) Taiwan Semiconductor Manufacturing Co ( TSM ) was fractionally higher after Tuesday introducing its next-generation, 6-nanometer process, marking a significant enhancement over its existing technology and fueling market speculation the process will be used in the next version of chips running Apple iPhones. Taiwan Semiconductor has been Apple's primary chip supplier for several years.

(-) Electronic Arts (EA) fell 4% after rolling out an update to fix a security flaw with its Origin online gaming platform, TechCrunch reported Tuesday. The UK-based cybersecurity firm Underdog Security found that when the Origin app is installed on Windows it could be manipulated by an attacker and making it possible to steal a user's account access.

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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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