Sector Update: Tech

Tech stocks were higher in late Friday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) adding 1.5% and the SPDR S&P Semiconductor ETF (XSD) climbing 2%.

The Philadelphia Semiconductor index rose 2.8%.

In corporate news, Intel INTC shares dropped past 9% after the company said late Thursday it expects Q2 non-GAAP earnings of $0.10 per share on revenue of between $12.5 billion and $13.5 billion. Analysts polled by Capital IQ expect earnings of $0.26 on revenue of $13.59 billion.