Technology Shares Slip but Beat Broader Market -- Tech Roundup

09/14/2021 | 05:29pm

Shares of technology companies slipped but not by as much as the broader market.

After weeks of turbulent headlines, Apple CEO Tim Cook took the virtual stage in an attempt to return attention to the key driver of the company's success: the iPhone. The Cupertino, Calif., tech giant revealed the iPhone 13 and a smartwatch with a new look during its annual September event, which the company streamed live on its website rather than holding in person because of Covid-19 precautions.

South Korea fined Alphabet's Google around $177 million for obstructing other companies from developing rival versions of the Android operating system, the latest challenge to the U.S. technology giant's dominance in mobile software. Google abused its market position by thwarting efforts that could have spawned competing mobile operating systems and delayed the release of new products and services, the Korea Fair Trade Commission said.

Sportradar Group, a company backed by Michael Jordan and Mark Cuban, saw its shares fall nearly 7% following its market debut, after the company raised $672 million in its initial public offering and private placements.

 Write to Amy Pessetto at amy.pessetto@dowjones.com 

(END) Dow Jones Newswires

09-14-21 1728ET

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