01:34 PM EDT, 05/22/2026 (MT Newswires) -- Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.6%.

The Philadelphia Semiconductor index added 2.6%.

In corporate news, Dell Technologies ( DELL ) shares surged 16% after Wells Fargo raised the company's price target to $270 from $180.

Zoom Communications ( ZM ) appears poised for growth acceleration following a strong Q1, given sustained momentum in its AI products, RBC Capital Markets said in a note. Zoom shares jumped past 10%.

Take-Two Interactive Software ( TTWO ) reported a narrower fiscal Q4 net loss as revenue increased. MoffettNathanson adjusted its price target on the company's shares to $196 from $206 while maintaining its neutral rating. Take-Two shares were down 3.6%.