03:58 PM EDT, 08/27/2024 (MT Newswires) -- Tech stocks rose late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.8% and the SPDR S&P Semiconductor ETF (XSD) up 0.7%.

The Philadelphia Semiconductor Index climbed 1.1%.

In corporate news, Bill (BILL) shares jumped 7% in recent trading, a day after the company's chief executive and financial officers bought additional shares worth $3.1 million.

Apple ( AAPL ) said late Monday that Kevan Parekh will replace Luca Maestri as chief financial officer at the start of next year. Separately, Wedbush said that Apple's ( AAPL ) iPhone 16 launch event on Sept. 9 will likely be the start of the "biggest upgrade cycle in its history with AI now on the doorstep." Apple ( AAPL ) shares were rising 0.4%.

Super Micro Computer ( SMCI ) shares dropped 2.7% following a report by short-seller Hindenburg Research alleging accounting manipulation.

Nvidia ( NVDA ) shares rose 1.6% after it said Tuesday that it's launching NIM Agent Blueprints, a catalog of AI workflows that will allow companies to build generative AI applications.