Technology Sector Update for 09/01/2017: MSFT, AAPL, IBM, CSCO, GOOGL, PANW, QCOM, AMBA
Top Technology Stocks:
Technology shares were modestly higher in Friday’s pre-market trade.
In sector news, Palo Alto Networks ( PANW ) jumped 7.8% after reporting fiscal Q4 non-GAAP EPS rose to $0.92 for the three month ended July 31, from $0.66 a year ago. That surpassed the $0.79 average estimate of analysts surveyed by Capital IQ. Fiscal Q4 revenue grew 27% to $509.1 million, above the analyst consensus of $487.5 million.
For fiscal Q1, the company anticipates revenue in the range of $482 to $492 million, and non-GAAP EPS in the range of $0.67 to $0.69. Analysts had forecast revenue of $486.9 million, and EPS of $0.68. For FY18, Palo Alto expects revenue in the range of $2.125 to $2.165 billion, and non-GAAP EPS in the range of $3.24 to $3.34. Analysts had projected revenue of $2.13billion, and $3.27 of EPS.
In other sector news,
(+) QCOM (+0.6%) Launches Cellular Vehicle-to-Everything (C-V2X) commercial solution
(-) AMBA (-12.9%) Posts Q2 results ahead of estimates; guides Q3 revenue in line with Street
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.