09:07 AM EDT, 06/04/2024 (MT Newswires) -- Technology stocks were lower to flat pre-bell Tuesday as the SPDR S&P Semiconductor ETF ( XSD ) was unchanged and the Technology Select Sector SPDR Fund ( XLK ) was recently down 0.4%.

Taiwan Semiconductor Manufacturing ( TSM ) considered relocating parts of its chip foundry business off the island amid rising tensions with China but finally determined that such a move would be impossible, Reuters reported, citing the company's chairman, C.C. Wei. Taiwan Semiconductor Manufacturing ( TSM ) shares were nearly 1% lower premarket.

GitLab ( GTLB ) shares were down almost 2% after the company said it expects fiscal Q2 sales of $176 million to $177 million, slightly missing the $177.3 million consensus from analysts polled by Capital IQ.

STMicroelectronics ( STM ) shares were up over 1% after the company said it signed a long-term silicon carbide, or SiC, supply agreement with automobile manufacturer Geely Auto Group to boost their existing partnership on SiC devices.