02:03 PM EDT, 08/12/2024 (MT Newswires) -- Tech stocks were mixed Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.9% and the SPDR S&P Semiconductor ETF (XSD) decreasing 0.2%.

The Philadelphia Semiconductor Index rose 0.7%.

In corporate news, Monday.com ( MNDY ) shares jumped 11% after it reported better-than-expected Q2 results and lifted its full-year revenue outlook.

Apple ( AAPL ) is expected to ship more iPhone 16 units than Wall Street originally estimated, with potentially more customers looking to upgrade due to the company's artificial intelligence features, Wedbush Securities said in a note to clients. Apple ( AAPL ) shares were adding 0.4%.

Draganfly ( DPRO ) shares surged 33% after it said Monday it has selected Institute for Drone Technology as a distributor of its drone technology in Australia as part of a partnership.