Sector Update: Tech Stocks Fall Late Afternoon

03:55 PM EDT, 09/10/2026 (MT Newswires) -- Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) decreasing 0.7%. The Philadelphia Semiconductor Index dropped 2.5%. In corporate news, Microsoft-backed (MSFT) OpenAI Thursday launched ChatGPT for Financial Services, a ChatGPT Work product to support projects like equity research and financial models. Microsoft shares were fractionally higher. Advanced Micro Devices-backed (AMD) South Korean AI startup Upstage is considering a pre-listing funding round as one of its capital-market options, Bloomberg reported, citing co-founder and Chief Technology Officer Hwalsuk Lee. The company closed a 560 billion won ($416 million) Series C financing this year, bringing its funding to date to 730 billion won, the report said. AMD shares were down 3.4%. Amazon's (AMZN) Amazon Ads, the tech giant's advertising arm, has entered into a partnership with OpenAI through which it will let its advertisers place ads in ChatGPT, according to media reports. Separately, Amazon-backed Anthropic has granted the EU Agency for Cybersecurity, or ENISA, access to its Mythos 5 AI model, months after first promising access, Bloomberg reported. Amazon shares were decreasing 0.5%. Apple (AAPL) is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, including its first-ever foldable smartphone, Morgan Stanley said in a note. The company set a starting price of $1,999 for the foldable iPhone Duo on Wednesday. Apple's new CEO John Ternus led the launch event that included the iPhone 18 and Watch Series 12. Apple shares rose 3.3%.