01:56 PM EST, 01/16/2025 (MT Newswires) -- Tech stocks were edging down Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) easing 0.2% and the SPDR S&P Semiconductor ETF (XSD) fractionally lower.

The Philadelphia Semiconductor index rose 1.3%.

In corporate news, Taiwan Semiconductor Manufacturing ( TSM ) shares popped over 4% after the chipmaker recorded sharp gains in its Q4 results and issued an upbeat revenue outlook for the ongoing period.

Symbotic ( SYM ) agreed to buy Walmart's ( WMT ) robotics business for $200 million in cash at closing. Symbotic ( SYM ) shares jumped 19%, while Walmart ( WMT ) was 0.2% lower.

Alphabet (GOOG) Chief Executive Sundar Pichai recently told employees he believes the company's Gemini AI technology has "surpassed" competitors and set a goal of 500 million users for the Gemini chatbot by the end of 2025, the Wall Street Journal reported. Alphabet shares were down 0.9%.