Sector Update: Tech

Last Updated: Tuesday, December 7, 2021 3:47 PM | MT Newswires

Technology stocks continue to lead broader markets higher Tuesday, with the SPDR Technology Select Sector ETF (XLK) rising 3.1% while the Philadelphia Semiconductor Index was advancing more than 4.6% this afternoon. In company news, Silicon Motion Technology (SIMO) pushed as much as 16% higher on Tuesday, recently touching a best-ever $87.89 a share, after the solid-state storage devices firm authorized a new, $200 million stock buyback program over the next six months.

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