01:38 PM EDT, 05/26/2026 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.2%.

The Philadelphia Semiconductor index popped 4.7%.

In corporate news, Micron Technology's ( MU ) market capitalization touched $1 trillion for the first time after several bullish analyst reports. Its shares jumped past 18%.

Qualcomm ( QCOM ) is set to supply ByteDance with millions of chips for AI data centers to support the TikTok owner's AI agent software, Bloomberg reported. Qualcomm ( QCOM ) shares climbed 3.5%.

Elbit Systems ( ESLT ) reported higher Q1 results and said its order backlog topped $30 billion, lifted by surging demand from Israel's Ministry of Defense amid ongoing regional conflicts. Its shares rose past 7%.