03:52 PM EDT, 09/29/2025 (MT Newswires) -- Tech stocks were mixed late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.5% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.7%.

The Philadelphia Semiconductor index added 0.3%.

In corporate news, Western Digital ( WDC ) shares jumped past 8% after Morgan Stanley boosted its price target on the data storage products maker's stock.

Meta's (META) AI image generation partner Black Forest Labs is in talks to raise between $200 million and $300 million in funding that could boost its valuation to about $4 billion, Bloomberg reported. Meta shares were fractionally lower.

Electronic Arts ( EA ) agreed to be acquired and taken private by an investor consortium, which includes Saudi Arabia's Public Investment Fund, in an all-cash deal worth about $55 billion. Electronic Arts ( EA ) shares gained 4.5%.

AppLovin ( APP ) is set to launch a new ad platform for its non-gaming business, viewed as a "key catalyst" and "execution proof point" for growth, according to a Morgan Stanley note. The investment bank adjusted its price target to $750 from $480, while maintaining its overweight rating on the stock. AppLovin ( APP ) shares rose 6.3%.