From Nasdaq:

Tech stocks were higher late Friday afternoon, with the XLK adding 2.1% and the XSD up 3%. The Philadelphia Semiconductor Index jumped 4%.

In corporate news, UEIC said the US Court of Appeals upheld a prior ruling by the US International Trade Commission that banned the import and sale of streaming products by ROKU. UEIC shares were up 6.7%, while ROKU was up 3.1%.

Texas Instruments shares jumped past 4% after UBS upgraded the company’s rating to buy and raised its price target to $195 from $170. META is bringing its two major artificial intelligence research groups “closer together” as part of its efforts to build general intelligence, CEO Mark Zuckerberg said, with Meta shares rising 1.7%.

SMCI shares soared 36% after the firm said its fiscal Q2 results will likely exceed its previous guidance. CMBM shares dropped 12% after it said it expects Q4 revenue of about $40.0 million compared with its previous outlook of $45 million to $50 million.



Read more: Technology Sector Update for 01/19/2024: UEIC, IRBT, META, SMCI, CMBM