01:54 PM EDT, 05/19/2025 (MT Newswires) -- Tech stocks were lower in Monday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) shedding 0.1% and the SPDR S&P Semiconductor ETF (XSD) falling 1.6%.

The Philadelphia Semiconductor index shed 0.5%.

In corporate news, Advanced Micro Devices ( AMD ) agreed to sell ZT Systems' data center infrastructure manufacturing business to Sanmina ( SANM ) in a cash-and-stock deal that makes the US-based contract manufacturer a preferred partner of AMD for building AI solutions. AMD shares were down 2.1% and Sanmina ( SANM ) was falling 5.5%.

Apple ( AAPL ) is facing scrutiny from the White House and congressional officials over its plan to use Alibaba's ( BABA ) AI technology on iPhones in China, The New York Times reported Saturday. Apple ( AAPL ) shares were shedding 1.3%, and Alibaba ( BABA ) was down 0.9%.

Salesforce ( CRM ) will make its Slack application available to federal agencies at a discount of up to 90% through November, Bloomberg reported. Salesforce ( CRM ) shares were decreasing 0.7%.