Technology Sector Update for 09/01/2017: MSFT, AAPL, IBM, CSCO, GOOGL, PANW, QCOM, AMBA

Top Technology Stocks:

MSFT: +0.04%

AAPL: +0.4%

IBM: +0.4%

CSCO: +0.4%

GOOGL: +0.3%

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

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