Tech stocks were mixed Thursday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 1% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 0.5%.

The Philadelphia Semiconductor Index rose 0.6%.

In corporate news, Alphabet (GOOG) reported higher Q4 results on Wednesday and said it expects to incur capital expenditures of $175 billion to $185 billion in 2026. The top end of the forecast would be more than double 2025 spending, CNBC reported. The stock fell 2.6%.