Yes it will. Electricity is generated when a magnetic field cuts across a conductor. EMP creates an enormous magnetic field. As that field cross the conductive traces and wires of a device, it creates a very large voltage spike. That damages the devices. The Russians built their aircraft with vacuum tube electronics to "harden" them against EMP voltage spikes. The modern semiconductor chips run at very low voltages to avoid arcing between the very closely spaced components. Such devices are VERY sensitive to EMP.
U.N. Employee Questioned After Blast At British Consulate
http://www.wnbc.com/news/4452005/detail.html
Thanks, Myrddin.
~running around the house wrapping things in foil~