01:30 PM EDT, 08/14/2026 (MT Newswires) -- Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.7%.

The Philadelphia Semiconductor index shed 1.1%

In corporate news, Applied Materials ( AMAT ) shares fell 5.4% after it reported late Thursday lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.

Reddit ( RDDT ) will replace AvalonBay Communities (AVB) on the S&P 500 prior to the opening of trading on Aug. 18, S&P Dow Jones Indices said late Thursday. Reddit ( RDDT ) shares jumped 11%.

Sandisk ( SNDK ) shares climbed past 6% after Wells Fargo and RBC lifted their price targets for the company.