Technology Sector Update for 06/16/2023: ADBE, MU, TIGO, APO, XLK, SOXX


Technology stocks were advancing premarket Friday with the Technology Select Sector SPDR Fund (XLK) up 0.5% and the iShares Semiconductor ETF (SOXX) 0.8% higher.

Adobe Systems (ADBE) was gaining over 4% in value after it reported fiscal Q2 non-GAAP earnings of $3.91 per share, up from $3.35 a year earlier. Analysts polled by Capital IQ expected $3.79.

Micron Technology (MU) is nearing an agreement to invest at least $1 billion to establish a chip packaging plant in India, Bloomberg reported, citing sources. Micron Technology was up 2.7%.

Millicom International Cellular (TIGO) was down 6% after saying its discussions with Apollo Global Management (APO) and Claure Group over a potential acquisition of all of its outstanding shares have terminated.

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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