Top Tech Stocks
Technology stocks were edging higher again, with shares of tech companies in the S&P 500 adding about 0.1%.
In company news, Apple ( AAPL ) shares were lower Monday afternoon, keeping a heavy lid on the rest of the tech sector after Morgan Stanley today cut its Q1 and Q2 forecasts for iPhone sales, citing oversaturation in the smartphone market outside of China and rising prices for the haircut.
Morgan Stanley analyst Katy Huberty sees iPhone sales in the December quarter dipping to 75 million units from 79 million, also trimming her Q2 outlook to 52 million units from 61 million units. Overall, Huberty said iPhone sales could fall around 6% during the 12 months ended in September.
AAPL shares were down about 1.2$ at $111.82 each, recovering somewhat from an earlier slide to $109.79 a share.
In other sector news,
(+) TSL, Receives $1.07 bln going-private proposal led by its CEO and Shanghai Xingsheng Equity Investment and Management, who are offering $11.60 per ADS, or a 21.5% premium over Friday's closing price.
(-) FEYE, Announces deal with Ingram Micro ( IM ) to market, sell and support FireEye security products throughout the U.S. and Canada. Financial terms were not disclosed.
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