01:26 PM EST, 02/28/2025 (MT Newswires) -- Tech stocks were lower Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1% and the SPDR S&P Semiconductor ETF (XSD) easing 0.1%.

The Philadelphia Semiconductor index shed 0.6%.

In corporate news, NetApp ( NTAP ) shares fell past 17% following its quarterly results overnight. The company "unexpectedly stumbled" in fiscal Q3 with revenue at the low end of guidance, and Q4 rebound expectations "muted," Wedbush said Friday.