04:01 PM EDT, 04/24/2024 (MT Newswires) -- Tech stocks were gaining late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) increasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.4%.

The Philadelphia Semiconductor index rose 1.1%.

In corporate news, Apple's ( AAPL ) share of new smartphone activations in the US dropped to 33% in the 12 months ended March from 40% a year earlier, Consumer Intelligence Research Partners reported. Apple ( AAPL ) shares were advancing 1.4%.

First Solar ( FSLR ) and six other US solar manufacturers filed petitions with two US regulatory agencies to investigate potentially illegal trade practices by Cambodia, Malaysia, Thailand and Vietnam. First Solar ( FSLR ) shares were shedding 1.4%.

Nvidia ( NVDA ) shares fell 3.4% as the company said it agreed to buy Israel-based workload management and orchestration software provider Run:ai.

Teledyne Technologies ( TDY ) shares sank almost 11% after the company reported Q1 results below analysts' expectations and lowered its full-year adjusted earnings guidance.