Tech Down as Demand Fears Linger -- Tech Roundup
Shares of technology companies ticked down as fears about global demand persisted. Shares of Nvidia ticked down after analysts at brokerage Bernstein said a recent warning about weak demand for the semiconductor maker's graphics chips remained a concern. Apple was weaker after research firm IDC estimated that fourth-quarter iPhone shipments in China fell by almost 20%. Japanese firm SoftBank Group is investing almost $1 billion in a robotic-delivery vehicle startup, Nuro, as major Silicon Valley investors continue the pursuit of driverless vehicles. Tesla rose after analysts at brokerage Canaccord Genuity boosted its rating on the electric-car maker, saying it's moving closer to its goal of producing an affordable, mass-market Model 3. Vacation rentals company Airbnb is being sued by the city of Paris over what the French capital claims are illegal advertisements, the BBC reports Monday. An attorney for the chief executive of American Media said Sunday that the parent company of the National Enquirer hadn't engaged in extortion and blackmail of Amazon Chief Executive Jeff Bezos, countering allegations related to communication about the release of embarrassing photos.
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