03:57 PM EST, 01/31/2025 (MT Newswires) -- Tech stocks were mixed in late Friday afternoon trading with the Technology Select Sector SPDR Fund (XLK) down 0.6% and the SPDR S&P Semiconductor ETF (XSD) up 0.3%

The Philadelphia Semiconductor index shed 0.3%.

In corporate news, Meta (META) is in talks to move its incorporation from Delaware to Texas or another state, The Wall Street Journal reported Friday. Meta shares added 0.1%.

STMicroelectronics ( STM ) is considering job cuts in the range of 2,000 to 3,000, or 6% of the workforce, Bloomberg reported. The shares dropped 0.6%

Apple ( AAPL ) recorded better-than-expected fiscal Q1 results with gains in Mac and iPad sales helping to counter a decline in iPhone revenue. The shares fell 0.6%.

Microsoft's ( MSFT ) LinkedIn won't face a proposed class action lawsuit after the plaintiff accusing the networking platform of data privacy violations filed a notice of dismissal, Reuters reported Friday, citing Eli Wade-Scott, a representative of the plaintiff. Separately, Microsoft ( MSFT )-backed OpenAI is in preliminary talks to raise up to $40 billion, potentially valuing the company at about $340 billion, The Wall Street Journal reported Thursday. Microsoft ( MSFT ) shares rose 0.1%.