03:48 PM EDT, 03/28/2024 (MT Newswires) -- Tech stocks were mixed late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.1% and the SPDR S&P Semiconductor ETF (XSD) up 0.3%.

The Philadelphia Semiconductor index rose 0.1%.

In corporate news, Palantir ( PLTR ) shares tumbled 6% as Monness, Crespi and Hardt downgraded the stock to sell from neutral with a $20 price target.

BlackBerry (BB) faces hurdles in its cybersecurity business and delayed electric vehicle transitions, possibly curbing prospects for fiscal 2025 growth, RBC Capital Markets said Thursday. RBC kept the company's sector perform rating, with a price target of $3. BlackBerry shares were steady.

Apple ( AAPL ) shed 0.8% after DZ Bank downgraded the tech giant to hold from buy while cutting its price target to $180 from $210.

Spotify ( SPOT ) added 1.4% after it said Thursday it reached an agreement with Universal Music Group to distribute music videos in the US.