Gainers & Losers in tech sector this week: Jabil gains while Enphase Energy declines

Wall Street’s major market averages seesawed back and forth on Friday and finished mixed as Federal Reserve Governor Christopher Waller hinted at potential rate cuts in July.

Markets seemed to look for direction throughout the week with escalating tensions in the Middle East, U.S. involvement in the conflict, and the latest Fed decision.

Federal Reserve Chair Jerome Powell said uncertainty stemming from tariffs continued to call for a “wait-and-see” approach to monetary policy actions, as the Fed left its policy rate at 4.25%-4.50% on Wednesday for a fourth straight meeting.

However, markets got some relief on Friday after Waller said he sees little risk that tariffs will stoke inflation and signaled the central bank could start cutting interest rates as soon as July.

The Technology Select Sector SPDR Fund ETF (NYSEARCA:XLK) declined 1.03% throughout the week, in-line with the 1.08% decline in the broader benchmark index.

Let’s take a look at this week’s gainers and losers in the tech industry:

Gainers:

Jabil Inc (NYSE:JBL) +15.14%: Argus Research raised its intermediate-term rating on Jabil’s stock to Buy from Hold after the company delivered fiscal third quarter 2025 revenue and non-GAAP EPS that “sharply exceeded Street expectations and company guidance.”

The company returned to positive annual topline growth for the first time since fiscal third quarter 2023.

Advanced Micro Devices (NASDAQ:AMD) +8.22%: AMD shares soared after Piper Sandler said it expects a “snap back” in its GPU business. AMD recently made several announcements, including showing off its MI350 series AI accelerators. The company also hinted at its upcoming MI400 AI accelerator.

Western Digital Corp (NASDAQ:WDC) +6.29% :Morgan Stanley reiterated its Overweight rating on Western Digital. Analysts led by Erik Woodring pointed to confidence in the company’s competitive positioning within hard disk drives; stronger gross margins; earlier-than-expected capital returns; and near-term de-leveraging.

Dell Technologies (NYSE:DELL) +5.26% : Evercore ISI stayed bullish on Dell’s artificial intelligence ramp ups and impressive supply chain execution. The brokerage firm maintained its Outperform rating and increased Dell’s price target to $150 from previously $140.

Losers:

Enphase Energy (NASDAQ:ENPH) -19.79% : Solar companies faced a setback this week, after the U.S. Senate proposed to fully phase out federal tax credits for solar and wind energy projects by 2028.

First Solar (NASDAQ:FSLR) -13.60% : Solar stocks tumbled after the GOP tax bill proposed ending solar, wind credits by 2028, sparking fears over renewable energy subsidies.

Accenture (NYSE:ACN) -10.30% : Accenture reported its fiscal third quarter results, highlighting an ongoing decline in new bookings. The company, which is facing challenges from a sluggish U.S. federal contracting landscape, posted third quarter bookings of $19.7B, implying a fall of 6% in U.S. dollars and 7% in local currency.

Arista Networks (NYSE:ANET) -9.94%

Corpay (NYSE:CPAY) -9.64%

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).