Tech stocks ended the week mixed as investors responded to a weaker-than-expected U.S. jobs report and shifting interest rate expectations. AI-related demand and cloud infrastructure optimism supported gains in select hardware and semiconductor names. However, supply chain concerns created headwinds for other chipmakers and hardware-reliant firms.
As markets navigated volatile conditions, the Technology Select Sector SPDR Fund ETF (NYSEARCA:XLK) gained 2.35%, while semiconductor stocks saw mixed performance. Let’s take a look at this week’s top gainers and losers in the tech industry:
Top weekly gainers:
Oracle (NYSE:ORCL) +25.51% jumped this week despite a small earnings miss, as investors reacted positively to strong cloud growth and a big increase in future contract bookings. Reports of a large AI deal with OpenAI added to the optimism.
Micron Technology (NASDAQ:MU) +19.68% on strong expectations for its upcoming earnings, driven by higher demand for memory chips. Analysts expect the company to beat forecasts, with Citi raising its revenue and earnings estimates for next year.
Lam Research (NASDAQ:LRCX) +13.61% extended its rally this week, reaching a 52-week high, as analysts forecast strong growth in the semiconductor equipment market. Higher demand for DRAM and NAND chips in 2026 is expected to boost revenues, supporting the stock’s rise.
Palantir Technologies (NASDAQ:PLTR) +11.97%
Super Micro Computer (NASDAQ:SMCI) +11.36% after starting shipments of Nvidia’s Blackwell Ultra AI solutions to global customers.
Top weekly losers:
Synopsys (NASDAQ:SNPS) -28.87% after missing Q3 earnings expectations and lowering its full-year forecast. Weakness in design IP revenue hurt results, despite growth in other areas.
EPAM Systems (NYSE:EPAM) -7.89%.
Teradyne (NASDAQ:TER) -6.62%
Accenture (NYSE:ACN) -6.44%. Consulting firms, including Accenture, face criticism for underperforming on generative AI projects, with clients expressing dissatisfaction over unmet promises and lack of expertise.
Enphase Energy (NASDAQ:ENPH) -5.09%
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).