Top gainers and losers in tech sector this week: First Solar gains while Micron lags

U.S. stocks ended mixed on Friday, just a day after Wall Street’s major averages climbed into record territory, as more tariff drama continued to mute markets.

Earlier on Friday, The Financial Times reported that President Trump is pushing for a 15% to 20% minimum tariff on all imports from the European Union, reigniting trade and political tensions.

According to Deutsche Bank’s Jim Reid, investors dialed down the amount of Fed rate cuts expected this year due to stronger data and a continued rise in market inflation pricing.

“The problem for the Federal Reserve and markets is that the U.S. administration’s policy continues to create considerable uncertainty about the economic outlook,” UBS’ Paul Donovan said.

With markets touching record highs this week, the tech sector also charted considerable growth. The Technology Select Sector SPDR Fund ETF (NYSEARCA:XLK) rose more than 2% in the past week, outperforming the broader benchmark index.

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

Gainers:

First Solar (NASDAQ:FSLR) +8.26% According to Mizuho analysts, First Solar is positioned to gain as domestic clean energy manufacturers, especially those outside China’s supply chain, are expected to benefit the most under Trump’s new tax bill.

Palantir Technologies (NASDAQ:PLTR) +8.04% Palantir was upgraded to Neutral from Underperform by Mizuho Securities as its sustained revenue growth has proven to be stronger than expected and has changed the minds of doubters.

Advanced Micro Devices (NASDAQ:AMD) +7.22% Evercore sees potential upside to 2025 estimates for Advanced Micro Devices’ after the company said that it will resume shipments of its MI308X chips to China after receiving U.S. approval.

Oracle (NYSE:ORCL) +6.46% Oracle’s recent run, which includes landing a deal that could provide $30B in cloud computing revenue by fiscal 2028 prompted Evercore ISI to name the company as the “fourth global hyperscaler.” Evercore maintained its Outperform rating on Oracle and boosted its price target to $270 from $215.

Fortinet (NASDAQ:FTNT) +6.42%

Losers:

Micron Technology (NASDAQ:MU) -8.14% Micron Technology shares dipped after its South Korean competitor, SK Hynix, was downgraded to Neutral from Buy by Goldman Sachs.

Enphase Energy (NASDAQ:ENPH) -5.44% J.P. Morgan downgraded shares to Neutral from Overweight with a $37 price target, slashed from $64, to reflect expected share loss and margin pressure as the industry gravitates towards third-party owned systems.

Gartner (NYSE:IT) -5.07%

Uber Technologies (NYSE:UBER) -5.03% Uber said it will develop a “next generation premium global robotaxi program” using Nuro autonomous vehicle technology. As part of the deal, Uber will invest $300M in Lucid and a “multi-hundred-million dollar” investment in Nuro.

Fortive Corp (NYSE:FTV) -4.10%

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).