Technology stocks were edging higher premarket Friday as the Technology Select Sector SPDR Fund (XLK) was 0.5% lower and the SPDR S&P Semiconductor ETF (XSD) was up 0.4% recently.
Fortinet (FTNT) was shedding nearly 23% in value after saying it expects 2023 revenue of $5.27 billion to $5.33 billion, down from the previous estimate of $5.35 billion to $5.45 billion. Analysts surveyed by Capital IQ expect $5.4 billion.
Apple (AAPL) was over 2% lower after it reported fiscal Q4 sales of $89.5 billion, down from $90.15 billion a year earlier. Analysts surveyed by Capital IQ expected $89.42 billion.
Atlassian (TEAM) reported fiscal Q1 non-GAAP diluted earnings of $0.65 per diluted share, up from $0.36 a year earlier. Analysts polled by Capital IQ expected $0.54 a share. Atlassian was 6% lower pre-bell.
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