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Tech Up Amid Value Bias -- Tech Roundup

07/21/2021 | 05:23pm EDT

Shares of technology companies rose, but not by as much as the broad market, as traders rotated back into sectors with more to gain from an acceleration in economic growth.

Shares of Dutch chip-equipment maker ASML rallied after it posted second-quarter profit in excess of Wall Street targets, and said it was rolling out products to help customers seeking to address a global chip shortage.

The severe flooding in central China cut power temporarily at Apple's biggest iPhone manufacturing site as water seeped into some areas and the site's operator gave many workers time off, The Wall Street Journal reported.

The price of cryptocurrency bitcoin bounced back above $30,000 after Elon Musk said his rocket company, SpaceX, has bitcoin holdings, in a move echoing Tesla, which he also runs.

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

(END) Dow Jones Newswires

07-21-21 1722ET

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