Goldman Sachs Provides Color on Hardware Technology

Goldman Sachs provided color on the hardware technology sector. In a research report published today, Goldman states, “The IT hardware group outperformed the S&P 500 this week, though it underperformed versus the GS TMT Index. Our coverage universe was up 1.3% versus a 0.2% decline in the S&P 500 and a 2.2% rise in the TMT group. ” In the report, Goldman also commented on Apple's plan to introduce new iPhone. The report states, “Apple plans on introducing a new iPhone in September, according to Bloomberg. The next iPhone will built on the A5 processor (already used in the iPad 2) and feature an 8 megapixel camera (up from 5 megapixel). The phone is expected to run iOS 5 and resemble the iPhone 4.” On Friday, Apple AAPL lost 1.47% of its value to finish the day at $326.35. Its shares rebounded in today's pre-market trading, however, rising 0.9% to $329.30.