Technology sector

Tech Sector Update 03/06/2022: AEYE,ASAN,AAPL,OKTA

JTech stocks were ending near intraday lows, with the SPDR Technology Select Sector ETF (XLK) on Friday down 2.3% while the Philadelphia semiconductor index slid 2.8% this after- midday.

In company news, AudioEye (AEYE) was up 20% at the end of Friday’s session, down slightly from an earlier gain of 33%, after the internet software company cleared du overnight a new $3 million share buyback program through June 30, 2024.

Okta (OKTA) rose 5% after reporting a net loss and below-expected revenue, beating Wall Street estimates in its fiscal first quarter ended April 30. The cybersecurity company has improved its outlook for fiscal 2023.

Among decliners, Apple (AAPL) fell 4% as European Union authorities set to require all types of mobile phones, tablets and headphones to use a common charging connection amid complaints of iPhone and Android users regarding the use of different chargers. The European Commission’s vote on the proposal is scheduled for Tuesday, according to a Reuters report.

Asana (ASAN) fell 7.3% after the labor management firm forecast a non-GAAP tax loss Thursday evening of between $0.38 and $0.39 per share, missing Capital IQ’s consensus at looking for a loss of $0.32 for the three months through July.

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