02:05 PM EST, 01/30/2025 (MT Newswires) -- Tech stocks were mixed Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.3% and the SPDR S&P Semiconductor ETF (XSD) rising 1.2%.

The Philadelphia Semiconductor index climbed 1.9%.

In corporate news, Meta's (META) Q1 revenue outlook fell short of market estimates at the midpoint after the company recorded better-than-expected Q4 results. The shares added 2%.

IBM ( IBM ) late Wednesday announced Q4 non-GAAP earnings and revenue increased, and several analysts boosted their price targets on the stock. The shares jumped 12%.

Microsoft ( MSFT ) late Wednesday reported stronger-than-expected fiscal Q2 results amid gains in AI demand, while Q3 revenue guidance trailed estimates. Separately, Microsoft ( MSFT )-backed OpenAI is in talks for an investment of $15 billion to $25 billion from Japanese conglomerate SoftBank, media outlets reported. Microsoft ( MSFT ) shares fell 6.3%.