Sector Update: Tech Stocks Mixed Wednesday Afternoon

01:27 PM EST, 11/04/2026 (MT Newswires) -- Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.5%. The Philadelphia Semiconductor index declined 3.1%. In corporate news, Advanced Micro Devices (AMD) issued a stronger-than-expected Q4 revenue outlook late Tuesday as Q3 results topped Wall Street estimates, driven by strength in its data center business. Shares eased 0.2%. Meta (META), Amazon (AMZN), CoreWeave (CRWV) and other data center developers may face increased regulatory hurdles for planned AI projects following Democratic victories in several US gubernatorial races, most notably in Texas, which accounts for nearly 30% of US data center capacity and just elected Democrat Gina Hinojosa, who has pledged to halt new data center approvals until lawmakers establish additional protections for local communities, Bloomberg reported. Meta shares were up 2.9%, Amazon rose past 7%, and CoreWeave fell over 9%. Datadog (DDOG) shares fell past 14% after the cloud monitoring and security platform issued a soft Q4 revenue forecast, signaling a growth deceleration despite Q3 results topping consensus estimates. Oracle (ORCL) has axed a $7 billion chip-leasing contract with Tencent, yielding to pressure from the White House, the Financial Times reported. Oracle shares were down 0.9%.