01:33 PM EDT, 07/22/2026 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.1%.

The Philadelphia Semiconductor index climbed 1.2%.

In corporate news, Qualcomm ( QCOM ) shares rose 1.9% after it said Wednesday that its Snapdragon chips will be used in Samsung's new smartphones, wearables, and intelligent eyewear.

Amazon ( AMZN ) has cut jobs in parts of its artificial general intelligence organization, without disclosing the exact numbers of affected employees, The Wall Street Journal reported Wednesday. Separately, Amazon's ( AMZN ) Q2 revenue and core profitability will likely exceed Wall Street's expectations amid upside potential from Amazon Web Services, BofA Securities said Wednesday. Amazon ( AMZN ) shares were down 1.9%.

Apple ( AAPL ) is planning a major update for its MacBooks and iMacs to capture demand for AI-capable devices, Bloomberg reported. Apple ( AAPL ) shares were shedding 1.2%.