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) , Microsoft Corp. (MSFT) and Facebook Inc. (FB) sported narrow losses, while wider losses were sustained in smaller tech names such as Himax Technologies (HIMX) , AlarmCom Holding Inc. (ALRM) , RealPage Inc. (RP) , Advanced Micro Devices Inc. (AMD) , and Square Inc. (SQ) .
The Technology Select Sector SPDR ETF (XLK) was largely flat on Tuesday morning.
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