01:02 PM EDT, 05/29/2025 (MT Newswires) -- Tech stocks were mixed Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.4% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.3%.

The Philadelphia Semiconductor index added 1%.

In corporate news, Nvidia's ( NVDA ) shares popped 4.2% after it overnight reported higher fiscal Q1 non-GAAP earnings and revenue. BofA Securities raised its price target on the chipmaker to $180 from $160. Nvidia ( NVDA ) is "outgrowing" expectations and competition even in the middle of supply constraints, Morgan Stanley said in a report.