Sector Update: Tech

03:17 PM EDT, 09/01/2026 (MT Newswires) -- Tech stocks were lower late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.2%. The Philadelphia Semiconductor index shed 2.2%. In corporate news, Apple (AAPL) is continuing to reshape its leadership ranks as John Ternus begins his tenure as chief executive officer, with longtime executive Luca Maestri stepping away from his corporate services responsibilities, Bloomberg reported. Maestri's duties, including information technology, information security and corporate real estate, have been assumed by Chief Financial Officer Kevan Parekh, according to Apple's updated management biographies, the report said. Apple shares were up 2.8%.