01:56 PM EST, 02/07/2025 (MT Newswires) -- Tech stocks fell in Friday afternoon trading with the Technology Select Sector SPDR Fund (XLK) decreasing 0.8% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.

The Philadelphia Semiconductor index declined 1.8%.

In corporate news, Amazon.com ( AMZN ) reported higher Q4 earnings and net sales late Thursday and issued Q1 net sales guidance below expectations by analysts. The shares fell 3.8%.

Microsoft ( MSFT )-backed (MSFT) OpenAI is set to receive a $40 billion primary investment from SoftBank at a $260 billion pre-money valuation, CNBC's David Faber reported. Microsoft ( MSFT ) shares fell 1.6%.

Pinterest ( PINS ) shares jumped 17%, a day after the company forecast double-digit Q1 revenue growth and posted better-than-expected sales in Q4.