03:53 PM EST, 02/21/2025 (MT Newswires) -- Tech stocks were in the red late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 2.7% and the SPDR S&P Semiconductor ETF (XSD) dropping 3.2%.

The Philadelphia Semiconductor index retreated 3.2%.

In corporate news, Advanced Micro Devices ( AMD ) is in talks to sell some data center manufacturing plants, Bloomberg reported. Its shares were falling 2.8%.

Pony AI (PONY) shares jumped past 30% after it said Friday that it introduced paid robotaxi services from multiple locations in Guangzhou's city center to Guangzhou Baiyun International Airport and Guangzhou South Railway Station in China.

Akamai Technologies ( AKAM ) has "limited" short-term growth opportunities, BofA Securities said in a note Friday, following the company's Q4 results overnight. BofA downgraded Akamai ( AKAM ) to neutral from buy and cut its price target to $100 from $125. Akamai ( AKAM ) shares dropped past 21%.

Apple ( AAPL ) Chief Executive Tim Cook promised President Donald Trump to move the company's manufacturing to the US from Mexico, Trump told a gathering of governors Friday, according to a Bloomberg report. Apple ( AAPL ) shares were fractionally higher.