03:46 PM EDT, 06/16/2025 (MT Newswires) -- Tech stocks rose late Monday afternoon with the Technology Select Sector SPDR Fund (XLK) gaining 1.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 3.4%.

The Philadelphia Semiconductor index advanced 2.9%.

In corporate news, Wix.com ( WIX ) shares jumped 4.9% after Wells Fargo upgraded the stock to overweight from equal weight and raised its price target to $216 from $173.

Alibaba (BABA) launched new Qwen3 AI models designed to run on Apple's ( AAPL ) MLX architecture, Reuters reported. Alibaba shares rose 2.9% and Apple ( AAPL ) gained 0.9%.

Advanced Micro Devices' ( AMD ) GPU business is expected to see a "snapback" in Q4 after it works its way through most of the China-related charges, Piper Sandler analyst Harsh Kumar said in a note. AMD shares surged 9.1%.

Meta (META) will "slowly" introduce channel subscriptions, promoted channels and ads in Status in WhatsApp over the next several months. Meta shares added 2.8%.

WeRide ( WRD ) shares climbed 3.4% and Uber ( UBER ) rose 1.7% after WeRide ( WRD ) signed a memorandum of understanding with Uber ( UBER ) and Dubai's Roads and Transport Authority to roll out pilot phases of autonomous vehicles later in 2025 via Uber's ( UBER ) app in Dubai.