03:57 PM EDT, 09/06/2024 (MT Newswires) -- Tech stocks tumbled late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) dropping 2.7% and the SPDR S&P Semiconductor ETF (XSD) falling 4.4%.

The Philadelphia Semiconductor index slumped 4.6%.

In corporate news, Samsara (IOT) shares jumped 12%, a day after the company reported better-than-expected fiscal Q2 results.

DocuSign ( DOCU ) shares rose 3.7%, a day after the company lifted full-year revenue guidance after posting better-than-expected fiscal Q2 results.

Broadcom ( AVGO ) shares tumbled 10%, a day after the company reported fiscal Q3 results and forecast Q4 revenue that lagged behind estimates by analysts.

Super Micro Computer ( SMCI ) shares dropped 6.9% as JPMorgan downgraded the stock to neutral from overweight.