01:53 PM EST, 02/19/2025 (MT Newswires) -- Tech stocks advanced Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.1% and the SPDR S&P Semiconductor ETF (XSD) adding 1.4%.

The Philadelphia Semiconductor index rose 1.1%.

In corporate news, Cadence Design Systems ( CDNS ) shares fell past 9% after its 2025 earnings guidance trailed market estimates despite stronger-than-expected Q4 results.

Celanese (CE) dropped 23%. After its Q4 results and guidance, Jefferies cut its price target on the stock to $55 from $70, and Mizuho to $73 from $86.

Apple ( AAPL ) on Wednesday debuted its iPhone 16e, a new member of the iPhone 16 family with features including an A18 chip and Apple Intelligence. Apple ( AAPL ) shares added 0.2%.