01:31 PM EDT, 05/03/2024 (MT Newswires) -- Tech stocks were gaining Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.9% and the SPDR S&P Semiconductor ETF (XSD) adding 2.3%.

The Philadelphia Semiconductor index rose 2.2%.

In corporate news, Apple's ( AAPL ) shares surged 7% after its earnings and sales beat market expectations, and it also announced an additional share-buyback program of up to $110 billion.