Technology Sector Update for 09/24/2019: AMD,JBL,BB

Top Tech Stocks

MSFT -0.89%

AAPL +0.32%

IBM +0.26%

CSCO -0.01%

GOOG -1.06%

Technology stocks were mostly lower in Tuesday trade, with the shares of tech companies in the S&P 500 declining 0.6% while the Philadelphia Semiconductor Index was falling 1.2%.

Among technology stocks moving on news:

(-) Advanced Micro Devices (AMD) slipped 3% on Tuesday as the chipmaker may have delayed the launch of its new Ryzen 9 3950X processor after experiencing "unsatisfactory clock speeds," according to PCGamesN, citing sources familiar to the matter. AMD last week said it was postponing the sales launch of the CPUs while it was "focusing on meeting the strong demand" for its currently available Ryzen 3000 chips.

In other sector news:

(+) Jabil (JBL) rose almost 5% after the contract manufacturer reported core net income of $0.88 per share during its fiscal Q4 ended Aug. 31, improving on a $0.70 per share core profit during the same quarter last year and beating the Capital IQ consenus by $0.01 per share.

(-) BlackBerry (BB) dropped 20% after the Canadian software firm reported an increase in non-GAAP fiscal Q2 revenue compared with the year-ago period, rising to $261 million but still lagging the $267.9 million analyst mean.

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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