Sector Update: Tech Stocks Mixed Late Afternoon

03:35 PM EDT, 09/02/2026 (MT Newswires) -- Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.8%. The Philadelphia Semiconductor index rose 0.4%. In corporate news, Palo Alto Networks (PANW) shares fell 10% after the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year. A judge in federal district court in Virginia on Wednesday rejected the United States' proposed structural remedies that would require Alphabet's (GOOGL) Google to sell AdX, its advertising exchange, according to court documents. Alphabet shares were up 0.8%. Dell (DELL) shares jumped 15% after it reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance. Microsoft-backed (MSFT) OpenAI was hit with multiple lawsuits Wednesday alleging that the AI company could have done more to help prevent a school shooting earlier this year in Canada by informing law enforcement of the suspected killer's activity on ChatGPT, according to media reports. Microsoft shares were down 0.8%.