01:45 PM EDT, 03/19/2026 (MT Newswires) -- Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) shedding 0.5%.

The Philadelphia Semiconductor index eased 0.3%.

In corporate news, Micron Technology ( MU ) reported stronger-than-expected fiscal Q2 results and issued an upbeat outlook for the ongoing three-month period, but the semiconductor maker flagged higher spending plans amid memory supply constraints. Its shares fell 4%.

Alibaba ( BABA ) reported lower-than-expected fiscal Q3 earnings on Thursday, while the Chinese e-commerce giant's revenue fell short of estimates despite double-digit growth in its cloud business. Alibaba ( BABA ) shares dropped past 6%.

Accenture ( ACN ) raised its 2026 expectations on Thursday amid strong demand for the consulting firm's AI services, saying its guidance does not assume the worst-case scenario regarding the Middle East conflict. Its shares climbed more than 4%.