01:29 PM EST, 11/06/2024 (MT Newswires) -- Tech stocks were sharply higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 3.8%.

The Philadelphia Semiconductor index was 2.8% higher.

In corporate news, Apple ( AAPL ) has approached Foxconn about producing artificial intelligence servers in Taiwan, Nikkei Asia reported. Apple ( AAPL ) shares were rising 0.3%.