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Tech Today: Shrinking iPhone Sales, Twitter's a Buy, Ericsson Shines

Shares of Ericsson (ERIC) are up $1.18, or 18%, at $7.82, after the company this morning reported Q1 revenue of 43.4 billion Swedish krona, a little less than the Street’s 43.59 billion SEK estimate, but it also turned in a surprise profit of 0.11 SEK per share, where analysts had been expecting a loss of 0.21 SEK per share. Twitter (TWTR) shares are up $1.05, or 3%, at $32.59, after MKM Partners’s Rob Sanderson this morning raised his rating on the shares to Buy from Neutral, with a $40 price target, writing that it should be bought for "monetization gains,” and he’s impressed by “a rebound in user growth with Daily Average Users up double-digits for five quarters." Sanderson thinks "the uber-bull case that TWTR eventually reaches the mainstream market is still on the table." It’s time for everyone to cut their Apple (AAPL) iPhone estimates in advance of the company’s earnings report May 2.