08:49 AM EDT, 04/07/2025 (MT Newswires) -- Technology stocks fell premarket Monday, with the Technology Select Sector SPDR Fund (XLK) down 2.8% and the SPDR S&P Semiconductor ETF (XSD) 7% lower recently.

AppLovin ( APP ) Chief Executive Officer Adam Foroughi said in a CNBC interview Friday that his company's offer for TikTok is "a much stronger bid than others." In a statement emailed to MT Newswires, Foroughi said the company has a deal that can "provide a win for the Trump administration and for the creators of TikTok." Shares of AppLovin ( APP ) declined by over 8% premarket.