Sector Update: Tech

Last Updated: Thursday, August 18, 2022 1:34 PM | MT Newswires

Technology stocks were bouncing higher, with the SPDR Technology Select Sector ETF (XLK) rising 0.7% while the Philadelphia Semiconductor Index was 2.7% higher this afternoon. In company news, Wolfspeed (WOLF) raced more than 30% higher after the chipmaker late Wednesday reported a non-GAAP Q4 net loss of $0.02 per share, improving on a $0.23 per share loss a year ago and beating Wall Street expectations for a $0.10 per share adjusted loss.

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