01:39 PM EDT, 07/22/2025 (MT Newswires) -- Tech stocks were lower Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.8% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.1%.

The Philadelphia Semiconductor index was shedding 1.9%.

In corporate news, Nokia ( NOK ) shares fell 4% after it cut its 2025 comparable operating profit guidance to the range of 1.6 billion euros ($1.88 billion) to 2.1 billion euros from 1.9 billion euros to 2.4 billion euros, citing currency headwinds from the weaker dollar and tariffs.

Apple's ( AAPL ) recent changes to its App Store rules and fees are likely to receive a green light from EU antitrust regulators, Reuters reported. Apple ( AAPL ) shares added 0.8%.

Microsoft ( MSFT ) has hired around two dozen Alphabet's (GOOG) Google DeepMind employees in recent months to boost its AI division, which is led by former DeepMind co-founder Mustafa Suleyman, CNBC reported. Microsoft ( MSFT ) shares were shedding 0.5%, and Alphabet was adding 0.4%.