03:52 PM EDT, 06/28/2024 (MT Newswires) -- Tech stocks were advancing late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.4% and the SPDR S&P Semiconductor ETF (XSD) gaining 0.8%.

The Philadelphia Semiconductor index added 0.9%.

In corporate news, Apple's ( AAPL ) move to incorporate artificial intelligence in the iPhone, iPad and Mac is likely to add fuel to revenue and earnings growth, Oppenheimer said in a note. Oppenheimer raised the price target on the stock to $250 from $200 and maintained its outperform rating. Apple ( AAPL ) shares shed 0.3%.

Actelis Networks ( ASNS ) shares soared 68% after the company received an initial order to provide hybrid fiber networking services to a municipal utility company in a German city.

Microsoft's ( MSFT ) investment in OpenAI is being eyed by European regulators amid suspicions the company uses its cloud technology dominance to stymie competitors, Bloomberg reported. Microsoft ( MSFT ) shares fell 0.4%.

Nokia ( NOK ) will acquire networking solutions provider Infinera ( INFN ) for $2.3 billion in a cash-and-stock deal as the Finnish telecommunications giant seeks to strengthen its optical networks business. Nokia ( NOK ) shares added 1.2% and Infinera ( INFN ) surged 17%.