08:49 AM EDT, 04/28/2026 (MT Newswires) -- Technology stocks were lower pre-bell Tuesday, with the State Street Technology Select Sector SPDR ETF (XLK) retreating by 2.2% and the State Street SPDR S&P Semiconductor ETF ( XSD ) falling 3.3%.

Microsoft ( MSFT ) was down more than 1% premarket after Raymond James and BMO Capital cut their price targets for the company. The Wall Street Journal reported that Microsoft ( MSFT )-backed OpenAI recently missed its own targets for new users and revenue.