Tech stocks were sharply higher late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.4% and the SPDR S&P Semiconductor ETF (XSD) climbing almost 3%.
The Philadelphia Semiconductor index rose 3%.
In corporate news, Dell (DELL) shares popped 4.8% after JPMorgan upgraded the company’s stock to overweight from neutral and raised its price target to $90 from $77.
Apple (AAPL) gained 2.1% after it said Monday its Vision Pro mixed-reality headset will go on sale in US physical and online stores on Feb. 2, with pre-orders starting Jan. 19.
Nvidia (NVDA) is planning to start production of its H20 artificial intelligence chip that was designed for China in Q2, Reuters reported Monday. Its shares jumped 5.9%.
Upwork (UPWK) soared past 10% after Jefferies upgraded the company’s stock to buy from hold and raised its price target to $20 from $13.
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