01:48 PM EDT, 10/20/2025 (MT Newswires) -- Tech stocks were higher Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.5% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.7%.

The Philadelphia Semiconductor index added 2%.

In corporate news, Apple's ( AAPL ) shares jumped 4.3%. The company's iPhone 17 series has outsold the iPhone 16 series by 14% during the first 10 days of availability in the US and China, Counterpoint Research said.

Arrow Electronics ( ARW ) has said that the US government is reversing trade restrictions on its Chinese affiliates for enabling the sale of US components in weaponized drones operated by Iran-backed groups, Reuters reported. Arrow shares climbed 4.6%.

Amazon.com's ( AMZN ) cloud platform, Amazon Web Services, reported a major outage early Monday, disrupting the operations of companies, websites and apps including airlines, social media and telecommunications. Amazon ( AMZN ) shares were up 1.3%.

Alphabet's (GOOG) Waymo is under a preliminary investigation by the US National Highway Traffic Safety Administration following reports that some 2,000 robotaxis may have been unable to follow traffic safety rules around stopped school buses, Reuters reported Monday, citing the NHTSA. Alphabet shares rose 1.2%.