Tech Rallies on Rate Hopes -- Tech Roundup - MarketWatch

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Shares of technology companies rallied after a weak reading of wholesale inflation alleviated concerns ahead of earnings season.

Weaker inflation data is set to keep a lid on Treasury yields, improving the comparative appeal of the tech sector, based on the criteria of a widely used portfolio-allocation system.

Shares of Apple, the largest U.S. company by market capitalization, rose 3%, coming within 6% of all-time highs, amid optimism about its earnings prospects.

U.S.-listed shares of Indian information-technology giant Infosys tumbled, testing 2 1/2-year lows, after posting fiscal fourth-quarter profit and revenue short of Wall Street estimates.

Amazon.com remains committed to investing in technology advances despite facing a tough macroeconomic backdrop, said Chief Executive Andy Jassy said in his second annual letter to shareholders.

Write to Rob Curran at rob.curran@dowjones.com

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