Technology Sector Update for 01/14/2020: MSFT, AAPL, IBM, CSCO, GOOG, PERI, MX, ICHR

Technology Sector Update for 10/14/2019: YNDX, GOOG, GOOGL, DOX, MSFT, AAPL, IBM, CSCO

Top Tech Stocks:

MSFT: -0.11%

AAPL: -0.12%

IBM: flat

CSCO: flat

GOOG: -0.09%

The majority of the top tech stocks were trading lower during pre-market hours on Tuesday.

Tech stocks moving on news include:

(+) Perion Network Ltd (PERI), which gained more than 4%. The provider of online advertising technology products earlier said it has acquired New York-based Content IQ for $73.1 million. Content IQ, which creates data and analytics tools for digital publishing, is expected to generate revenue of $39 million in 2019.

(+) MagnaChip Semiconductor (MX), which rose over 10%. The company said it now expects Q4 revenue of $198 to $200 million and gross profit margin of 26% to 27%, up from previous guidance of $181 to $191 million for revenue and gross margin of 24% to 26%.

(+) Ichor Holdings (ICHR), which was up nearly 15%. The company announced that it expects to report Q4 revenue of about $189 million, up 22% over Q3 and also at the high end of the guidance range. The new guidance is also above Wall Street’s estimate of $184.9 million.

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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