From Nasdaq:

Stocks in the tech sector experienced a late afternoon decline, with the XLK falling 0.5% and the XSD down 1.3%. The Philadelphia Semiconductor index also saw a 0.4% decline. Mobileye Global shares plunged 26% following a warning of a 50% year-on-year drop in Q1 revenue.

In contrast, Mobix Labs surged 48% after securing a 15-month contract to supply electromagnetic interference filtered connectors for the US Army’s M-1 Abrams tank program.

Microsoft announced plans to include a Copilot key on Windows 11 PCs keyboards that will activate its artificial-intelligence service. However, its shares were shedding 0.6%. Apple reached a proposed settlement with a group of individuals scammed into buying iTunes and App Store gift cards. Separately, Piper Sandler downgraded Apple to neutral and cut its price target. Apple shares fell 1.4%.



Read more: Technology Sector Update for 01/04/2024: MBLY, MOBX, AAPL, MSFT