03:52 PM EST, 11/17/2025 (MT Newswires) -- Tech stocks declined late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.9% and the SPDR S&P Semiconductor ETF (XSD) slumping 3.3%.

The Philadelphia Semiconductor index shed 2.1%.

In corporate news, Amazon.com ( AMZN ) founder (AMZN) Jeff Bezos launched an AI start-up that he will help lead as co-chief executive officer, the New York Times reported. Separately, Amazon ( AMZN ) has set the size of its US dollar corporate bond sale a $15 billion, above the initial estimate of about $12 billion, Bloomberg reported. Amazon ( AMZN ) shares declined 0.9%.

Dell (DELL) shares fell 8.8% after Morgan Stanley (MS) downgraded its rating to underweight from overweight and cut its price target to $110 from $144.

Hewlett Packard Enterprise ( HPE ) shares dropped 7.1% in recent Monday trading after Morgan Stanley downgraded the stock to equalweight from overweight and cut its price target to $25 per share from $28.

Alphabet (GOOG) shares were rising 3.3% after Berkshire Hathaway (BRK.A) disclosed Friday a $4.33 billion stake in Google's ( GOOG ) parent company as of Sept. 30.