01:53 PM EST, 01/21/2025 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 1% and the SPDR S&P Semiconductor ETF (XSD) rising 2.1%.

The Philadelphia Semiconductor index advanced 2%.

SoundHound AI's ( SOUN ) shares rose more than 12% after Rekor Systems ( REKR ) said it will combine its vehicle recognition software with the company's voice and conversational AI to improve emergency vehicle technology. Rekor ( REKR ) shares were down 0.6%.

Apple ( AAPL ) iPhone sales slumped more than 18% in Q4, Bloomberg reported, citing an independent research firm. Apple ( AAPL ) shares were down 4%.

FTAI Aviation ( FTAI ) said its audit committee is reviewing allegations made in a short-seller report by Muddy Waters Research, which could potentially delay the filing of its 2024 annual report. FTAI shares dropped over 27%.