09:09 AM EDT, 08/05/2024 (MT Newswires) -- Technology stocks were retreating premarket Monday as the Technology Select Sector SPDR Fund ( XLK ) was down 6.5% and the SPDR S&P Semiconductor ETF ( XSD ) recently fell by 8.8%.

Berkshire Hathaway (BRK.A, BRK.B) slashed its stake in Apple ( AAPL ) to $84.2 billion in Q2, compared with $135.4 billion at the end of the previous quarter, regulatory filings showed. Shares of Apple ( AAPL ) were down almost 10% pre-bell.

Nvidia's ( NVDA ) new artificial intelligence chips could be delayed by at least three months due to design issues and this could affect major customers such as Microsoft ( MSFT ) , Meta Platforms ( META ) and Alphabet's (GOOG, GOOGL) Google ( GOOG ), The Information reported Friday, citing unnamed sources familiar with the matter. Nvidia's ( NVDA ) shares were nearly 12% lower premarket.

Thoughtworks Holding ( TWKS ) shares were up nearly 26% after saying it signed a definitive merger agreement in which an affiliate of funds advised by Apax Partners will buy all of the outstanding shares of Thoughtworks ( TWKS ) common stock they do not already own for $4.40 per share. The deal implies a total enterprise value for Thoughtworks ( TWKS ) of about $1.75 billion.