Sector Update: Tech

MT Newswires Live01-23 04:30

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.7%.

The Philadelphia Semiconductor index was fractionally higher.

In corporate news, Apple's (AAPL) hardware chief John Ternus' role now includes design work after Chief Executive Tim Cook tapped him to oversee design teams at the end of 2025, Bloomberg reported. The move cements Ternus' status as a top contender to eventually succeed Cook, with other potential internal CEO candidates including Chief Operating Officer Sabih Khan and former COO Jeff Williams, the report said. Apple shares were up 0.5%.

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