01:59 PM EDT, 04/30/2024 (MT Newswires) -- Tech stocks fell Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) down 1% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.1%.

The Philadelphia Semiconductor index declined 0.9%.

In corporate news, F5 (FFIV) shares tumbled 8%, a day after the company posted fiscal Q2 revenue that fell more than forecast, while fiscal Q3 guidance that trailed estimates by analysts.

MicroStrategy ( MSTR ) shares plunged 16%, a day after the company reported lower-than-expected Q1 results.

Perficient (PRFT) is contemplating selling itself, garnering potential interest from private equity firms and industry players, Bloomberg reported. The shares jumped 8%.