Sector Update: Tech Stocks Mixed Late Afternoon

03:42 PM EDT, 10/20/2026 (MT Newswires) -- Tech stocks were mixed late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally lower and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1%. The Philadelphia Semiconductor index increased 0.3%. In corporate news, Salesforce (CRM) agreed to buy customer engagement platform Braze (BRZE) in a deal worth $5.66 billion, as it looks to strengthen its business-to-consumer marketing solutions. Shareholders of Braze's class A stock will receive $47.50 in cash per share, the companies said. Salesforce shares were up 0.1%, and Braze surged 51%. Microsoft-backed (MSFT) OpenAI said Tuesday it has acquired Orchestra Bio, a startup for coordinating drug development processes. The acquisition will help advance Rosalind models and tools for life sciences research, OpenAI said. Microsoft shares were down 0.5%. Meta Platforms' (META) Chief Global Affairs Officer Joel Kaplan will leave the company in 2027, Axios reported. He will stay through the US midterm elections and into 2027 to manage the transition, the report added. Dina Powell McCormick, Meta's president and vice chairman, will add external affairs to her duties, while chief legal officer C.J. Mahoney will take on policy responsibilities, Axios reported. Meta shares were down 2.3%. Apple (AAPL) announced new and expanded partnerships with US suppliers to make key components for its iPhone Duo and iPhone 18 Pro models under its American Manufacturing Program. Apple shares were down 1.1%.