01:58 PM EDT, 05/15/2025 (MT Newswires) -- Tech stocks were mixed Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.5% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.8%.

The Philadelphia Semiconductor index eased 0.2%.

In corporate news, Nvidia ( NVDA ) will be allowed to ship its AI chips to the United Arab Emirates under a draft agreement between the US and the UAE, Reuters reported. Nvidia ( NVDA ) shares added 0.4%.

President Donald Trump said he asked Apple ( AAPL ) Chief Executive Tim Cook to move iPhone production to the US from India, according to media reports. Apple ( AAPL ) was down 0.4%.

Alibaba's ( BABA ) fiscal Q4 earnings and revenue rose year over year but missed Wall Street's estimates despite the company recording double-digit sales growth in its cloud business. Its shares fell past 7%.