Sector Update: Tech

Sector Update: Tech

MT newswire2026/10/01 17:02

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01:02 PM EDT, 10/01/2026 (MT Newswires) -- Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.4%. The Philadelphia Semiconductor index added 0.6%. In corporate news, Accenture (ACN) reported stronger-than-expected fiscal Q4 results on Thursday, and it forecast earnings and revenue in the ongoing fiscal year to rise annually. Its shares jumped 18%.

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Marvell expects total revenue to reach $20 billion for fiscal year 2028, higher than the previously stated $18 billion and exceeding Wall Street’s estimate of $18.2 billion. The company also expects fiscal year 2031 revenue to reach between $70 billion and $90 billion, far surpassing Wall Street’s forecast of $46.85 billion. Following the announcement, Marvell's share price rose by nearly 9% at one point.

华尔街见闻•2026/10/06 17:11