09:11 AM EDT, 04/12/2024 (MT Newswires) -- Technology stocks were falling premarket Friday, with the Technology Select Sector SPDR Fund ( XLK ) down 1.2% and the SPDR S&P Semiconductor ETF ( XSD ) 2.9% lower.

Richtech Robotics ( RR ) stock was up 0.6% after the company said overnight it formed a joint venture with Zipphaus to launch a series of robot-operated cafes in hospitals, airports, colleges and universities.

Intel ( INTC ) and Advanced Micro Devices ( AMD ) will be hit hardest after Chinese officials directed the country's largest telecom carriers to phase out foreign chips used in their networks by 2027, The Wall Street Journal reported, citing people familiar with the matter. Intel ( INTC ) and Advanced Micro Devices ( AMD ) stocks were more than 2% lower in recent Friday premarket activity.

The US Cybersecurity and Infrastructure Security Agency said Thursday that Moscow-linked hackers infiltrated Microsoft's ( MSFT ) email system to pilfer emails between officials and the tech firm. Microsoft's ( MSFT ) shares were down 0.7% in recent Friday premarket activity.