03:57 PM EST, 02/03/2025 (MT Newswires) -- Tech stocks were in the red late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.1% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.2%.

The Philadelphia Semiconductor index retreated 1.4%.

In corporate news, Apple ( AAPL ) is likely to see a "manageable" impact on its earnings from the new 10% tariff imposed by the US on imports from China, BofA Securities said in a report Monday. Apple ( AAPL ) shares were down 3.2%.

Meta Platforms' ( META ) overall investment in virtual and augmented reality is set to surpass $100 billion in 2025, the Financial Times reported Monday. Meta shares were rising 1.1%.

Triumph (TGI) shares jumped 33% after it agreed to be acquired and taken private by affiliates of Warburg Pincus and Berkshire Partners in a roughly $3 billion all-cash deal.

Stratasys ( SSYS ) shares rallied 22% after it said Fortissimo Capital will invest $120 million to acquire about a 14% stake by purchasing about 11.7 million newly issued shares at $10.30 each.