Tech stocks were edging down Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) easing 0.2% and the SPDR S&P Semiconductor ETF (XSD) fractionally lower.
The Philadelphia Semiconductor index rose 1.3%.
In corporate news, Taiwan Semiconductor Manufacturing (TSM) shares popped over 4% after the chipmaker recorded sharp gains in its Q4 results and issued an upbeat revenue outlook for the ongoing period.
Symbotic (SYM) agreed to buy Walmart's (WMT) robotics business for $200 million in cash at closing. Symbotic shares jumped 19%, while Walmart was 0.2% lower.
Alphabet (GOOG) Chief Executive Sundar Pichai recently told employees he believes the company's Gemini AI technology has "surpassed" competitors and set a goal of 500 million users for the Gemini chatbot by the end of 2025, the Wall Street Journal reported. Alphabet shares were down 0.9%.
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