01:56 PM EDT, 05/05/2025 (MT Newswires) -- Tech stocks were mixed Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) fractionally higher and the SPDR S&P Semiconductor ETF (XSD) down 0.5%.

The Philadelphia Semiconductor index shed 0.3%.

In corporate news, Onsemi (ON) reported a year-over-year decline in Q1 non-GAAP earnings and revenue. Its shares tumbled nearly 8%.

Apple ( AAPL ) plans to sell investment-grade bonds Monday for the first time in two years, Bloomberg reported. Apple ( AAPL ) shares retreated 2.4%.

US Representative Bill Foster is preparing to introduce legislation requiring tracking of the location of AI chips, such as those made by Nvidia ( NVDA ) to help prevent their illegal export to China, Reuters reported. Nvidia ( NVDA ) shares were down 0.2%.