01:15 PM EDT, 07/09/2025 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) each adding 0.2%.

The Philadelphia Semiconductor index rose 0.4%.

In corporate news, Microsoft's ( MSFT ) AI business potential is being underestimated by the market, according to Oppenheimer, which believes the tech giant is in a position to continue to grow its AI revenue streams. Oppenheimer upgraded Microsoft's ( MSFT ) stock to outperform from perform with a price target of $600. Microsoft ( MSFT ) shares were rising 0.9%.