Sector movers: Apple results give UK tech stocks a boost, ARM rises

28th Jan 2015 15:27

Forecast-busting results from US smartphone and tablet giant Apple gave London-listed tech shares a boost on Wednesday, especially those of supplier ARM Holdings.ARM, the semiconductor and software design firm whose chips are used in Apple's iPhones, was bolstered by the news that the California-based group sold 74.5m of the smartphones in three months to December.Apple's chief executive Tim Cook said that demand for the iPhone was "staggering", as the company reported a record quarterly net profit of $18bn, well ahead of analysts' expectations."Apple results beat even the highest of company or analyst expectations as the new iPhone 6 and iPhone 6 plus smartphones flew off the shelves," said analyst Jasper Lawler from CMC Markets.ARM's shares were up 1.4% at 1,045.75p ahead of the close."Following on from last night's jaw-dropping Apple figures, ARM Holdings, the chip maker of choice for smartphone manufacturers has received a healthy boost," said IG's Alastair McCaig.Others in the technology hardware and equipment sector were also higher, including Imagination Technologies, Pace, Laird, Vislink and Sepura.Top performing sectors so far todayBeverages 14,904.45 +1.89%Electricity 9,330.47 +1.82%Technology Hardware & Equipment 1,243.05 +1.62%Household Goods & Home Construction 13,243.22 +1.48%Real Estate Investment Trusts 3,328.66 +1.36%Bottom performing sectors so far todayFood & Drug Retailers 3,166.00 -2.49%Oil & Gas Producers 7,240.39 -2.02%Chemicals 11,529.24 -1.55%Banks 4,338.86 -0.79%Industrial Transportation 2,792.33 -0.75%