Sector Update: Tech Stocks Fall Pre-Bell Tuesday

MT Newswires Live07-28 21:08

Technology stocks were falling pre-bell Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) 1.6% lower and the State Street SPDR S&P Semiconductor ETF (XSD) declining by 3.5%.

ASML Holding (ASML) shares were down more than 4% after The Information reported that a Chinese state-backed company has started manufacturing certain chipmaking equipment that could impact ASML's market position.

Corning (GLW) stock was down more than 16% amid a soft Q3 outlook, with EPS and sales estimates barely meeting analysts' expectations.

Microsoft (MSFT) shares were up more than 1% after the company introduced Project Perception, an AI-powered cybersecurity platform designed to detect, assess and respond to cyber threats in real time as attackers increasingly use AI to automate attacks.

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