Sector Update: Tech

Tech stocks were rising late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) increasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) gaining 1.9%.

The Philadelphia Semiconductor index rose 1.1%.

In corporate news, Apple's AAPL share of new smartphone activations in the US dropped to 33% in the 12 months ended March from 40% a year earlier, Consumer Intelligence Research Partners reported Wednesday. Apple shares were advancing 1.2%.