Tech stocks were lower late Wednesday with the Technology Select Sector SPDR Fund (XLK) decreasing 0.3% and the Philadelphia Semiconductor index falling 2.3%.
In company news, Amazon.com (AMZN) is deploying artificial intelligence across its largest warehouses to check items for damage before orders are shipped as part of plans to automate its fulfillment centers, the Wall Street Journal reported. Amazon shares were down 0.9%.
Separately, Amazon employees plan to stage a walkout Wednesday to express concern over the company’s environmental record and to protest recent job cuts and its return-to-office rule, CNBC reported.
Nvidia’s (NVDA) Chief Executive Jensen Huang is planning to make a trip to China to meet with tech executives there despite growing tensions between the US and China, Bloomberg reported. The chipmaker’s shares dropped 5.5%.
Hewlett Packard (HPE) reported better-than-expected Q2 results but issued Q3 revenue guidance below the consensus estimate, prompting Deutsche Bank, Barclays and Credit Suisse to lower their price targets for the stock. Hewlett Packard was down past 6%.
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