Meta, Micron, Palantir among notable tech headlines this week

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โดย Seeking Alpha·Read original
Summary · why it matters

The tech sector remained in focus this week after facing intense sell-off pressure from investors. The Nasdaq Composite closed 0.8% lower on Thursday, mostly dragged down by a drop in chipmaker stocks including Nvidia and Sandisk. For the week, the Technology Select Sector SPDR Fund fell 2.6%. Among the top S&P 500 technology gainers, Palantir surged 20.54%, Workday rose 19.01%, ServiceNow gained 18.77%, Palo Alto Networks added 18.76%, and Datadog climbed 17.84%. The top losers were Sandisk, down 25.27%, ON Semiconductor, down 23.18%, Teradyne, down 21.80%, Western Digital, down 20.19%, and Seagate Technology Holdings, down 20.01%. In notable stories, Meta Platforms closed nearly 9% higher on Wednesday after Bloomberg reported the company is building a cloud business for excess AI compute, forming a unit to sell access to AI models and computing power. Michael Burry disclosed a short position in Micron Technology at $1,051.87 per share, calling the rally driven by fear of missing out and greater fool theory. DA Davidson upgraded Palantir to Buy with a $175 price target, HSBC upgraded Adobe to Buy with a $308 target citing limited AI disruption, and HSBC raised Intel's price target to a new Wall Street high of $200. Microsoft is reportedly planning a new round of job cuts affecting less than 2.5% of its workforce and investing $2.5 billion in a new AI solutions unit. Apple is planning an ambitious iPhone launch with at least five new models and a larger volume of folding handsets, Nikkei Asia reported.

Impact on stocks 21

Artificial Intelligence▲ · 7 stocks
Microsoft Corporation
MSFT
± MixedCapitalrelevance

Planning job cuts (<2.5% workforce) and investing $2.5B in AI unit; mixed signals.

Semiconductors± Mixed · 6 stocks
Micron Technology Inc
MU
▼ NegativeCapitalrelevance

Michael Burry disclosed a short position in Micron, calling the rally driven by FOMO and greater fool theory.

Intel Corporation
INTC
▲ PositiveCapitalrelevance

HSBC raised Intel's price target to new Wall Street high of $200.

Cloud & Digital Infrastructure▲ · 4 stocks
Spatial Computing / AR/VR▲ · 1 stocks
Meta Platforms Inc.
META
▲ PositiveDemandrelevance

Building a cloud business to sell AI compute and models, driving demand for its services.

Defense & Geopolitical Fragmentation▲ · 1 stocks
Financials▲ · 1 stocks
Cybersecurity & Digital Trust▲ · 1 stocks
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