03:58 PM EDT, 06/06/2025 (MT Newswires) -- Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) advancing 1.1% and the SPDR S&P Semiconductor ETF (XSD) adding 1.2%.

The Philadelphia Semiconductor index increased 0.6%.

In sector news, President Donald Trump is expected to sign an executive order that will delay enforcement of a law banning TikTok or requiring its sale ahead of a June 19 deadline, The Wall Street Journal reported Friday.

In corporate news, Applied Materials ( AMAT ) shares rose 1.6% after Morgan Stanley upgraded the stock to equalweight from underperform while trimming its price target to $158 from $162.

Circle Internet ( CRCL ) shares surged 32% following the stablecoin issuer's debut on the New York Stock Exchange Thursday.

Alphabet (GOOG) defeated three investor bids to report on potential hazards associated with AI, Bloomberg reported Friday, citing preliminary results from the company's annual meeting. Alphabet shares were rising 3.2%.

Apple's ( AAPL ) outlook is bullish before its developer conference, which is seen as pivotal to its monetization phase of its AI backbone, Wedbush said in a report. Wedbush reiterated its outperform rating. Apple ( AAPL ) shares were up 2.2%.

Broadcom's ( AVGO ) most recent quarterly results and outlook narrowly beat estimates, but left investors disappointed as they were hoping for a more substantial upside surprise, Truist Securities said in a note. Broadcom ( AVGO ) shares fell 5%.