01:58 PM EDT, 04/07/2025 (MT Newswires) -- Tech stocks were advancing Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.8% and the SPDR S&P Semiconductor ETF (XSD) adding 1%.

The Philadelphia Semiconductor index rose 2.7%.

In corporate news, Meta (META) is planning a nearly $1 billion data center project in Wisconsin as part of its efforts to increase investments in AI and cloud infrastructure, Bloomberg reported Saturday. Separately, Meta said Saturday it has released the first models from its latest open-source artificial intelligence software Llama 4. Meta shares rose 3.6%.

Apple's ( AAPL ) overwhelming dependence on China for its supply chain and production makes the tariffs imposed by Trump "a complete disaster" for the iPhone maker, Wedbush said Sunday, cutting its price target to $250 from $325 while keeping its outperform rating. Apple ( AAPL ) shares fell 3.7%.

Microsoft's ( MSFT ) Wicresoft joint venture will shutter operations in China from Tuesday, Chinese media outlet Caijing reported Monday. The move is likely to lead to almost 2,000 layoffs, the report said. Microsoft ( MSFT ) shares were down 0.1%.