03:29 PM EDT, 04/24/2024 (MT Newswires) -- Tech stocks were rising late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) increasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) gaining 1.9%.

The Philadelphia Semiconductor index rose 1.1%.

In corporate news, Apple's ( AAPL ) share of new smartphone activations in the US dropped to 33% in the 12 months ended March from 40% a year earlier, Consumer Intelligence Research Partners reported Wednesday. Apple ( AAPL ) shares were advancing 1.2%.