01:56 PM EDT, 04/07/2026 (MT Newswires) -- Tech stocks fell Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) dropping 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) losing 0.2%.

The Philadelphia Semiconductor index rose 0.2%.

In corporate news, Broadcom ( AVGO ) shares rose 5.6% after the chipmaker agreed to produce AI chips for Alphabet's (GOOGL) Google and expanded its collaboration with Amazon-backed (AMZN) AI startup Anthropic.

Apple ( AAPL ) is on track to launch its first foldable iPhone on schedule in September, according to Bloomberg. Earlier, Nikkei Asia reported that manufacturing snags could delay the debut. Apple ( AAPL ) shares fell 2.7%.

Intel ( INTC ) shares rose 3% after the company said it is joining Elon Musk's Terafab project alongside Tesla (TSLA), SpaceX and xAI to help refactor silicon fabrication technology.