01:27 PM EDT, 10/02/2025 (MT Newswires) -- Tech stocks were higher Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.7%.

The Philadelphia Semiconductor index advanced 2%.

In corporate news, Apple's ( AAPL ) iPhone 17 is experiencing stronger-than-expected demand, with extended lead times in markets like China, and supply chain checks suggest Apple ( AAPL ) may boost H2 2025 production builds to above 90 million units from the current estimated target of 84 million to 86 million units, Morgan Stanley said Thursday in a report. The firm maintained its overweight rating on Apple ( AAPL ) and raised the price target to $298 from $240. Apple ( AAPL ) shares added 0.8%.