01:26 PM EDT, 05/16/2025 (MT Newswires) -- Tech stocks declined Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.1% and the SPDR S&P Semiconductor ETF (XSD) fractionally lower.

The Philadelphia Semiconductor index shed 0.4%.

In corporate news, Applied Materials ( AMAT ) shares fell more than 5% after the company late Thursday reported fiscal Q2 revenue that trailed Wall Street's estimates.