Sector Update: Tech Stocks Rise Friday Afternoon

01:38 PM EDT, 09/11/2026 (MT Newswires) -- Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3.8%. The Philadelphia Semiconductor index climbed 2.4%. In corporate news, Microsoft (MSFT) plans to more than triple its global data center capacity to over 38 gigawatts in 2032, Bloomberg reported. Microsoft shares rose 0.6%. Oracle's (ORCL) fiscal Q1 results showed surging cloud growth, but margin pressure and a "modest" earnings guidance raise left Morgan Stanley wanting more visibility on infrastructure buildout and profitability. Oracle reported strong fiscal Q1 results late Thursday, driven by above-consensus cloud sales that were buoyed by infrastructure revenue growth of 121% year over year. Morgan Stanley said Friday the company's non-GAAP gross profit margin fell to 61% in the three months through August from 68.7% a year ago, missing the brokerage's and Wall Street's estimate of about 62%. Oracle shares were fractionally lower. Broadcom's (AVGO) licensing revamp for VMware software after its $61 billion takeover is attracting deep scrutiny from EU antitrust regulators, Bloomberg reported. Broadcom shares were up 1.1%.