Sector Update: Tech Stocks Mixed Late Afternoon
MT newswire2026/10/09 19:4703:47 PM EDT, 10/09/2026 (MT Newswires) -- Tech stocks were mixed late Friday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) easing 0.3%. The Philadelphia Semiconductor Index declined 0.3%. In corporate news, Microsoft (MSFT)-backed OpenAI expects annualized revenue to exceed $70 billion by the end of 2026, Bloomberg reported Friday. Sources told Bloomberg that annualized sales were roughly $50 billion at the end of September. Microsoft shares rose 2.5%. Nvidia (NVDA) plans to invest in rival d-Matrix, a developer of AI server chips, The Information reported. Nvidia shares shed 0.4%. SpaceX (SPCX) shares rose 0.7% after it agreed to acquire a nationwide low-band spectrum portfolio from investment firm Grain Management as it seeks to establish Starlink Mobile as a major US mobile carrier. Apple (AAPL) has asked some suppliers to cut production of components for its iPhone 18 Pro and Pro Max models, Nikkei Asia reported. October orders were down by at least 15% from initial requests amid rising memory chip costs and weaker demand, the report said. Apple shares were falling 1.2%.
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