Technology stocks were advancing on Friday, with the SPDR Technology Select Sector ETF adding 0.9% in value while the Philadelphia Semiconductor Index was rising 0.6% this afternoon.
In company news, Borqs Technologies (BRQS) rose 92% after the Chinese software firm Monday said it received a purchase order valued at more than $15 million to supply mobile online point-of-sale devices into the Indian market.
Apple (AAPL) was rising 1.4% ahead of a deadline later Monday for investors to acquire the company's stock ahead of a 4-for-1 stock split scheduled for August 30. Apple shares also are finding support after Morgan Stanley raised its price target for the tech giant by $89 to a Street-high $520 a share.
Spotify Technology (SPOT) fell fractionally after announcing a new, exclusive partnership with Riot Games to provide audio-streaming for League of Legends events as well as working with the company to create podcasts and playlists for the gaming community.
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