Technology sector

Tech Sector Update 12/05/2022: AAPL,IS,MAXN,SKYT,XPER

JTech stocks fell on Thursday, with the SPDR Technology Select Sector ETF (XLK) down 1%, although the Philadelphia Semiconductor index was down 0.5% this afternoon.

In corporate news, Apple (AAPL) fell 2.7%, with Thursday’s decline eroding about $120 billion from its previous market value and allowing Saudi Aramco to overtake the iPhone maker as a most valuable company in the world.

ironSource (IS) was down 17.7% this afternoon, pulling back part of an earlier 24% decline to a record low of $2.41 per share that followed it, projecting lower second-quarter earnings to Wall Street expectations and lowering its 2022 revenue forecast below analysts’ estimates.

Maxeon Solar Technologies (MAXN) climbed 3.8% after partnering with private company AlphaESS to optimize solar power and storage options for residential customers by combining Maxeon’s solar panel technology and products. energy storage from AlphaESS.

SkyWater Technology (SKYT) added 5.6% after the contract chipmaker announced a licensing agreement for Xperi Holding’s (XPER) ZiBond direct bonding and DBI hybrid bonding technology. Financial terms were not disclosed. Xperi shares were down 0.2% this afternoon.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.