Sector Update: Tech Stocks Mixed Thursday Afternoon

MT Newswires Live04-24 01:54

Tech stocks were mixed Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 1.2%.

The Philadelphia Semiconductor index added 0.9%.

In sector news, SpaceX is considering manufacturing its own graphics processing units, or GPUs, as part of efforts to secure AI chip supply, Reuters reported Thursday, citing excerpts from a regulatory filing ahead of a planned IPO. The space and satellite firm lists "manufacturing our own GPUs" among the "substantial capital expenditures" it is undertaking, the excerpts of its S-1 registration reportedly showed.

In corporate news, IBM (IBM) shares fell past 9% after its quarterly results. Software growth decelerated to 8% in constant currency from 11% in Q4 and 9% in Q3, a "potential red flag for the bears," CFRA said in a note.

ServiceNow (NOW) reported strong Q1 results, but softer organic revenue trends and a slightly weaker margin outlook weighed on its overall forecast, Oppenheimer said in a note. Its shares tumbled 18%.

Texas Instruments (TXN) shares jumped 17% after it posted higher Q1 earnings and revenue and set out Q2 guidance above consensus.

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Its shares tumbled 18%.</p><p>Texas Instruments (TXN) shares jumped 17% after it posted higher Q1 earnings and revenue and set out Q2 guidance above consensus.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4561","symbol_name":"索罗斯持仓","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2629854170","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2629854170","pubTimestamp":1776966880,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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