01:52 PM EDT, 10/07/2024 (MT Newswires) -- Tech stocks were mixed Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) advancing marginally and the SPDR S&P Semiconductor ETF (XSD) down 0.3%.

The Philadelphia Semiconductor index was rising 0.5%.

In corporate news, Super Micro Computer ( SMCI ) shares jumped over 13% after the company said it recently deployed over 100,000 graphics processing units in one quarter.

Algorhythm ( RIME ) shares popped more than 20% after the company said Monday it has been awarded a service contract from an unnamed major global beverage, food, and snack company.

Apple ( AAPL ) received a favorable verdict in a patent infringement case by Identity Security related to user verification and data security technology in its iPhone products, Bloomberg reported Friday. Apple ( AAPL ) shares were shedding 1.4%.