03:41 PM EST, 11/24/2025 (MT Newswires) -- Tech stocks rose late Monday afternoon with the Technology Select Sector SPDR Fund (XLK) climbing 2.6% and the SPDR S&P Semiconductor ETF (XSD) jumping 4.1%.

The Philadelphia Semiconductor index surged 4.8%.

In corporate news, Apple ( AAPL ) shed "dozens" of workers on its sales team, Bloomberg reported. Apple ( AAPL ) shares rose 1.9%.

Broadcom ( AVGO ) shares jumped 11% after HSBC raised the price target on the stock to $535 from $400 and maintained its buy rating.

President Donald Trump is considering allowing Nvidia ( NVDA ) to sell advanced AI chips to China, Commerce Secretary Howard Lutnick said on Bloomberg TV. Nvidia ( NVDA ) shares rose 1.5%.

Alphabet's (GOOG) Google Cloud signed a multimillion-dollar contract with the NATO Communication and Information Agency to provide secure sovereign cloud capabilities. Alphabet shares jumped 6.4%.