Tech stocks had a mixed week as investors focused on growing demand for AI and semiconductor products. Strong earnings and optimistic forecasts helped some chipmakers gain, supported by partnerships and new technology investments. At the same time, some tech companies saw their shares fall due to cautious outlooks and profit-taking.
Overall, the market showed a clear divide between companies benefiting from the AI boom and others facing challenges.
The Technology Select Sector SPDR Fund ETF (NYSEARCA:XLK), which tracks major U.S. tech stocks, slipped 1.65% for the week, reflecting the uneven performance across the sector.
Let’s take a look at this week’s top gainers and losers in the tech industry:
Top weekly gainers:
Intel (NASDAQ:INTC) +20.01% surged on optimism around U.S. chip policy, PC market strength, analyst upgrades, and renewed investor confidence in turnaround plans.
Teradyne (NASDAQ:TER) +12.9% rose after Susquehanna raised its price target, citing strong traction with TSMC and long-term AI test equipment demand.
Applied Materials (NASDAQ:AMAT) +7.27% rose after Morgan Stanley’s upgrade and higher price target, supported by improved earnings outlook and recent strong price momentum despite some demand concerns.
International Business Machines (NYSE:IBM) +6.72% gains are fueled by its recent collaboration with AMD on quantum computing, with a recent HSBC trial showing how quantum tech could improve bond trading efficiency.
Top weekly losers:
Oracle (NYSE:ORCL) -8.16% amid concerns over AI valuations and cloud growth projections. Rothschild’s sell rating raised doubts, suggesting the market overestimates the impact of recent AI deals on Oracle’s core business.
Cadence Design Systems (NASDAQ:CDNS) -6.22%
Zebra Technologies (NASDAQ:ZBRA) -5.89%
HP (NYSE:HPQ) -5.15% due to contracting margins and weaker performance in its printing division, with declines in both consumer and commercial segments.
U.S. Tech-based ETFs to track: (NASDAQ:QQQ), (NYSEARCA:VGT), (XLK), (NASDAQ:SMH), (NYSEARCA:IYW), (NYSEARCA:FTEC), (NASDAQ:SOXX), (BATS:IGV), (NASDAQ:CIBR), (NYSEARCA:IGM), (NYSEARCA:IXN).