The technology sector refrained from broader gains on Tuesday, Sept. 12, as investors cooled on industry stocks ahead of the widely publicized Apple Inc. (APPL) event later in the day.
Apple is expected to unveil three new iPhone models on Tuesday in a widely anticipated event which kicks off at 1 p.m. ET. The world's largest company is anticipated to unveil the iPhone X, a top-of-the-line device designed as a tribute to the smartphone's 10-year anniversary. That model is expected to carry a $1,000 price tag.
Pundits also anticipate a second and third smartphone model at the event, presumably named the iPhone 8 and iPhone 8 Plus. The Apple Watch 3 could also be unveiled, a device that could connect to LTE wireless networks, rather than rely on the iPhone's Bluetooth connection or compatible Wi-Fi networks.
Until the event, tech stocks were stalled. Industry leaders such as Alphabet Inc. (GOOGL) - Get Report , Microsoft Corp. (MSFT) - Get Report and Facebook Inc. (FB) - Get Report sported narrow losses, while wider losses were sustained in smaller tech names such as Himax Technologies (HIMX) - Get Report , AlarmCom Holding Inc. (ALRM) - Get Report , RealPage Inc. (RP) - Get Report , Advanced Micro Devices Inc. (AMD) - Get Report , and Square Inc. (SQ) - Get Report .
More of What's Trending on TheStreet:
- The 3 Biggest Surprises Apple Could Unveil at Its Huge iPhone Event on Tuesday
- 10 Most Worthless Pieces of Military Memorabilia
- Samsung Reveals That It Already Has a Huge Jump on Apple's iPhone X
- Hooters Has a Big $1 Million Problem in One of Its Key Overseas Markets