Tech stocks were mixed in late Tuesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) increasing 0.4% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.5%.
The Philadelphia Semiconductor index rose 0.3%.
In corporate news, Apple's (AAPL) main suppliers in India, Foxconn and Tata, shipped nearly $2 billion worth of iPhones in March to the US to get out in front of President Donald Trump's looming tariffs, Reuters reported, citing customs data it reviewed. Apple shares eased 0.1%.
Microsoft-backed (MSFT) OpenAI is developing a new social network similar to X with a focus on ChatGPT's image generation features, The Verge reported. Microsoft shares were down 0.6%.
Applied Digital (APLD) shares tumbled 36% after it reported overnight fiscal Q3 revenue that missed analysts' expectations.
Elliott Investment Management has taken a position worth over $1.5 billion in Hewlett Packard Enterprise (HPE), Bloomberg reported. HP Enterprise shares climbed 5.3%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.