03:57 PM EDT, 04/07/2025 (MT Newswires) -- Tech stocks were advancing late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.5% and the SPDR S&P Semiconductor ETF (XSD) adding 1.7%.

The Philadelphia Semiconductor index climbed 2.8%.

In corporate news, AppLovin ( APP ) Chief Executive Adam Foroughi told MT Newswires that the company's offer for TikTok can "provide a win for the Trump administration and for the creators of TikTok." AppLovin ( APP ) shares were rising 5.5%.

Meta (META) is planning a nearly $1 billion data center project in Wisconsin as part of its efforts to increase investments in AI and cloud infrastructure, Bloomberg reported Saturday. Separately, Meta said Saturday it released the first models from its latest open-source artificial intelligence software Llama 4. Meta shares rose 2.2%.

Apple ( AAPL ) is considering to outsource more iPhone manufacturing to India to avoid the high overheads from China tariffs, The Wall Street Journal reported Monday. Wedbush said Sunday that Apple's ( AAPL ) overwhelming dependence on China for its supply chain and production makes the tariffs imposed by Trump "a complete disaster" for the iPhone maker. Wedbush cut its price target on the stock to $250 from $325, while keeping the outperform rating. Apple ( AAPL ) shares were down 3.6%.

Microsoft ( MSFT )-backed (MSFT) OpenAI is interested in buying the startup of its Chief Executive Sam Altman and Jony Ive, which is developing an AI-backed household device, The Information reported. Microsoft ( MSFT ) shares were shedding 0.6%.