03:52 PM EDT, 07/11/2024 (MT Newswires) -- Tech stocks fell Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) dropping 2.2% and the SPDR S&P Semiconductor ETF (XSD) decreasing 0.5%.

The Philadelphia Semiconductor index slumped 2.8%.

In corporate news, Iris Energy ( IREN ) shares tumbled 12% after a report by short-seller Culper Research alleged the bitcoin miner's flagship Childress County, Texas, buildout "lacks numerous features that are critical to high-performance computing applications."

Anson Funds Management is urging Five9 ( FIVN ) to explore a sale after building up a stake in the company, Reuters reported. Five9 ( FIVN ) shares gained 3.3%.

Amazon.com's ( AMZN ) Amazon Web Services and Workday (WDAY) are expanding a partnership to build generative artificial intelligence capabilities and invest in go-to-market initiatives to accelerate cloud transformation. Workday shares rose 1.7%, and Amazon ( AMZN ) fell 2.5%.

Apple ( AAPL ) filed a lawsuit Wednesday to contest the Florida Department of Revenue's assessment for additional corporate income taxes totaling $14.8 million. Apple ( AAPL ) shares dropped 1.9%.