03:29 PM EDT, 10/23/2024 (MT Newswires) -- Tech stocks declined late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 1.5% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.7%.

The Philadelphia Semiconductor index shed 1.3%.

In corporate news, Apple ( AAPL ) is preparing to launch updated MacBook Air models with M4 chips in early 2025 following a series of new Mac releases coming next week, Bloomberg reported. Apple ( AAPL ) shares fell 2.6%.