Sector Update: Tech Stocks Mixed Wednesday Afternoon

01:30 PM EDT, 08/26/2026 (MT Newswires) -- Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) easing 0.1%. The Philadelphia Semiconductor index was fractionally lower. In corporate news, Meta Platforms (META) has agreed to pay a maximum of $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a filing in federal court. Meta shares were up 1.2%. Zoom (ZM) shares fell 6.5% after the video communication platform provided a downbeat earnings outlook for its fiscal Q3 following a Q2 beat. Intuit (INTU) shares dropped 3.6% after the tax and finance software maker overnight issued a soft fiscal 2027 outlook.