03:57 PM EDT, 07/12/2024 (MT Newswires) -- Tech stocks were advancing late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.8% and the SPDR S&P Semiconductor ETF (XSD) adding 1.4%.

The Philadelphia Semiconductor index spiked 1.1%.

In corporate news, Intel's ( INTC ) software and developer cloud subscription revenue may reach $1 billion by the end of 2027, Reuters reported Friday, citing Chief Technology Officer Greg Lavender. Intel ( INTC ) shares rose 3%.

Array Technologies ( ARRY ) shares surged 9.1% after Citigroup upgraded the stock to buy from neutral while lowering its price target to $14 from $17.

A federal judge has granted Apple's ( AAPL ) motion to dismiss a class-action lawsuit alleging the firm engages in anticompetitive practices via its agreements with internet search companies that bar market entry for third-party apps. Apple ( AAPL ) added 1.4%.

Logitech International ( LOGI ) may delay its annual meeting after the company's founder secured a court order that prevents it from issuing invites, Bloomberg reported. Logitech ( LOGI ) shares were rising 1.6%.