Sector Update: Tech Stocks Gain Wednesday Afternoon

MT newswire2026/09/16 17:45

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01:45 PM EDT, 09/16/2026 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.2%. The Philadelphia Semiconductor index rose 1.6%. In corporate news, Apple (AAPL) is developing an AI enterprise server with its M-series processors while holding talks to incorporate Nvidia's (NVDA) networking technology, The Information reported. Apple shares were up 0.6%, and Nvidia added 1.5%. SK Hynix (SKHY) said Wednesday no deals have been finalized regarding a potential US memory chip partnership with Intel (INTC), in response to a media report that the companies are discussing a possible joint venture or use of Intel's Ohio plant. SK Hynix shares rose 1.4%, and Intel gained 4.6%. Microsoft (MSFT) AI Chief Executive Mustafa Suleyman said in an essay that Anthropic's effort to make its Claude model mimic consciousness is a mistake that could make advanced AI more difficult to control, Axios reported, citing a copy of the essay it viewed. Microsoft shares were down 0.7%.

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