01:34 PM EDT, 05/29/2026 (MT Newswires) -- Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.6%.

The Philadelphia Semiconductor index was decreasing 0.1%.

In corporate news, Dell Technologies ( DELL ) shares surged past 28% after it reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.

SentinelOne ( S ) shares fell 5.5%. The cybersecurity company delivered a solid Q1 performance that appears to be sustainable amid strong underlying trends, BofA Securities said in a Friday client note. The brokerage attributed the sell-off to the company's "conservative" guidance that raises questions around growth durability.

IBM ( IBM ) shares jumped 10% after the company said it plans to invest more than $10 billion over the next five years to support quantum computing development.