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Sector Update: Tech

Aug 8, 2024 12:48 PM

03:34 PM EDT, 08/08/2024 (MT Newswires) -- Tech stocks were sharply higher late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 3.2% and the SPDR S&P Semiconductor ETF (XSD) jumping 6.2%.

The Philadelphia Semiconductor index popped 6%.

In corporate news, Apple ( AAPL ) is planning a new model of the Mac mini that is expected to be released later this year, Bloomberg reported Thursday. The tech giant's shares rose 1.1%.

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