Sector Update: Tech Stocks Retreat Tuesday Afternoon

MT Newswires Live01-01

Tech stocks were lower Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.9% and the SPDR S&P Semiconductor ETF (XSD) down 0.5%.

The Philadelphia Semiconductor index fell 0.9%.

In corporate news, FTAI Aviation (FTAI) shares jumped 15% Tuesday, a day after the firm issued its initial financial guidance for fiscal year 2025 and launched a strategic capital initiative.

Texas Instruments (TXN) and other non-mainland China chip makers for electric vehicles could lose market share as Beijing pressures domestic EV manufacturers to use microchips produced at home, the Wall Street Journal reported. Texas Instruments shares were down 0.5%.

EHang (EH) said it expects Q4 revenue of 162 million renminbi ($22.2 million), up 20% from the guidance of 135 million renminbi. EHang shares rose 1.1%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment