02:03 PM EDT, 05/07/2025 (MT Newswires) -- Tech stocks were mixed Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.1% and the SPDR S&P Semiconductor ETF (XSD) easing 0.4%.

The Philadelphia Semiconductor index fell 0.1%.

In corporate news, CrowdStrike ( CRWD ) plans to cut its global workforce by 500 positions, or 5%, the company said Wednesday in a regulatory filing. CrowdStrike ( CRWD ) shares fell nearly 5%.

Advanced Micro Devices (AMD) issued an upbeat fiscal Q2 revenue outlook at the midpoint, including the impact of new export licensing requirements, while the chipmaker reported better-than-expected results for the preceding three-month period. Its shares were still down 0.5%.

Apple (AAPL) is planning to restructure the Safari web browser on its devices to focus on AI-run search engines, Bloomberg reported, citing a company executive's testimony in a government lawsuit against Alphabet (GOOG). Apple shares were down 2% and Alphabet tumbled past 7%.