An electronic device may be provided with wireless circuitry. Control circuitry may be used to adjust the wireless circuitry. The wireless circuitry may include antennas that are tuned, adjustable impedance matching circuitry, antenna port selection circuitry, and adjustable transceiver circuitry. Wireless circuit adjustments may be made by ascertaining a current usage scenario for the electronic device based on sensor data, information from cellular base station equipment or other external equipment, signal-to-noise ratio information or other signal information, antenna impedance measurements, and other information about the operation of the electronic device.