01:43 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, 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 nearly 4%.