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Sector Update: Tech Stocks Mixed Late Afternoon

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Tech stocks were mixed late Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 0.7%.

The Philadelphia Semiconductor index added 0.2%.

In corporate news, Intel (INTC) is urging notebook and personal computer makers to increase adoption of central processing units built on its latest 18A production process as demand for AI computing strains processor supply, Nikkei Asia reported. Intel shares were up 3.1%.

Apple's (AAPL) Chief Hardware Officer Johny Srouji is reorganizing hardware development and shifting oversight of core functions to speed up work on future devices, Bloomberg reported. Apple shares were fractionally higher.

Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said. Nvidia shares were down 0.5%.

Meta Platforms (META) is moving 7,000 employees into new AI-focused roles as part of a broader restructuring that also includes planned job cuts later this week, Bloomberg reported Monday. Meta shares fell 1.5%.

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