Tech stocks gain in late afternoon — TradingView News

Technology stocks rose late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) gaining 1.5% and the SPDR S&P Semiconductor ETF (XSD) rising 2.8%.

The Philadelphia Semiconductor index rose 2.5%.

In Alphabet Corporate News GOOG shelved its efforts to buy HubSpot HUBSBloomberg reported Wednesday. HubSpot shares fell 13%, while Alphabet gained 1.1%.

Apple AAPL aims to sell at least 90 million iPhone 16 units in the second half of the year, driven by demand for AI services from its new offering, Bloomberg reported. Apple shares rose 1.7%.

Semiconductor Manufacturing in Taiwan 2330 Shares in the company rose 3.6% after the company said its revenue in June rose 33% from a year earlier.

Intuition INTU Shares fell 2.6% after the company said it would lay off 1,800 workers and close plants in Boise, Idaho, and Edmonton, Alberta, Canada, to focus resources on artificial intelligence initiatives and other high-growth sectors.