IGV News & Analysis
2 articles
Market Mood
Oracle (ORCL) Soars 27% This Week; AMD (AMD) Hits All-Time High
Oracle (ORCL) saw a 27% gain this week, marking its best performance since June 1999, following an expansion of a 1.2-gigawatt AI data center deal with Bloom Energy. Advanced Micro Devices (AMD) rose 13% this week, achieving an all-time high amid a streak of 13 consecutive days of gains, totaling over a 42% increase. Microsoft (MSFT) increased by 14%, rebounding after a significant quarterly loss. The iShares Expanded Tech-Software ETF (IGV) also climbed nearly 14% week-to-date, indicating a broader recovery in the tech sector.
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Tech Stocks Divergence: Software ETFs Fall Over 4% Amid Hardware Gains
On Thursday, the IGV software ETF, a metric for software performance, declined over 4%. Major software companies Salesforce and Adobe saw drops of nearly 3% and 4% respectively, while CrowdStrike fell 7.5% amid broader market movements. Conversely, hardware-associated stocks like Marvell Technology and Intel each gained nearly 5%, with Corning rising 2.85%. This divergence indicates a prevailing sentiment favoring hardware over software, a trend that CNBC's Jim Cramer suggests may continue amidst ongoing market volatility related to geopolitical events.
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