On the basis of data collected from 1208 apple farmers in the provinces of Shaanxi and Gansu, this study utilizes the weighted-frequency method to investigate the priority sequence of farmers’ preferences in choosing fertilizer-reduction and efficiency-increasing technologies. Subsequently, ordered-probit models, a mediating-effect model, and a moderating-effect model are employed to empirically analyze the influence of capital endowment on farmers’ choices related to fertilizer-reduction and efficiency-increasing technologies and their underlying mechanisms. The study further examines how agricultural-technology extension moderates these mechanisms. The main findings are: (1) The priority sequence of farmers’ choices concerning fertilizer-reduction and efficiency-increasing technologies is as follows: organic fertilizer substitution, new efficient fertilizers, soil testing and formula fertilization, green manure cultivation, straw mulching, fertilizer-reduction application, and deep mechanical application. (2) Capital endowment significantly enhances farmers’ choices in fertilizer-reduction and efficiency-increasing technologies. (3) The mechanism analyses indicate that capital endowment can promote farmers’ choices in fertilizer-reduction and efficiency-increasing technologies by improving their information-acquisition capabilities. (4) Moderation effects reveal that agricultural-technology extension methods, such as technical training, financial subsidies, and government publicity, significantly and positively moderate the relationship between information-acquisition capabilities and farmers’ choices in fertilizer-reduction and efficiency-increasing technologies. The moderating effects of educational attainment and generational differences on different agricultural-technology extension methods are heterogeneous. Technical training, financial subsidies, and government publicity can effectively enhance the positive impact of information-acquisition capabilities on farmers with a higher educational attainment. Financial subsidies can effectively strengthen the positive impact of information-acquisition capabilities on the older generation of farmers. Therefore, it is recommended to prioritize the accumulation of farmers’ capital endowment, improve their information-acquisition capabilities, and intensify agricultural-technology extension efforts, especially taking into account farmers’ educational attainment and generational differences.