03:55 PM EDT, 10/30/2025 (MT Newswires) -- Tech stocks declined late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 1.6% and the SPDR S&P Semiconductor ETF (XSD) falling 1.2%.

The Philadelphia Semiconductor index shed 1.1%.

In corporate news, Roblox ( RBLX ) flagged potential margin pressures due to increased investments in infrastructure and personnel, even as it raised its full-year bookings guidance. The stock fell 15%.

Meta (META) is ramping up spending on AI initiatives despite uncertain revenue prospects, sparking investor concerns as expenses and capital costs climb "significantly faster" than expected, Oppenheimer said in a note. It downgraded the stock to perform from outperform. Meta shares fell 11%.

Microsoft ( MSFT ) shares dropped 2.8% following its quarterly results. Raymond James adjusted its price target on the company's shares to $600 from $630 while maintaining an outperform rating.

Alphabet (GOOG) shares rose 3% after the Google ( GOOG ) parent reported stronger-than-expected Q3 results, buoyed by double-digit growth in its services and cloud businesses.