Tech Focus - March 21, 2026 (EOD)

 ## Tech Sector Wrap The technology sector faced notable headwinds today, with the Technology Select Sector SPDR Fund (XLK) declining 2.27% amid broader market weakness. The Nasdaq 100 also fell 0.99%, reflecting investor caution as geopolitical tensions and rising oil prices weighed on sentiment. The tech sell-off was broad-based, driven by concerns over potential Federal Reserve rate hikes and the impact of elevated energy costs on corporate margins. Despite the overall weakness, select tech names showed resilience or notable activity. The sector's decline was exacerbated by profit-taking in semiconductor stocks and some cloud software providers, while defensive tech names and those with recent positive news managed to outperform. The market's focus remains on AI-related developments and earnings reports that could provide fresh catalysts in the near term. ## Magnificent 7 Performance **$NVDA** - data not available **$AAPL** - data not available **$MSFT** - data not available **$GOOGL** - data not available **$META** - data not available **$AMZN** - data not available **$TSLA** - data not available No significant moves or news were reported for the Magnificent 7 stocks in today’s session based on the available data. ## Semiconductor Recap Chip stocks experienced a mixed but generally negative day amid market-wide risk aversion and concerns about demand softness. - **$NVDA**: Data not available for the session, but Nvidia remains a focal point for AI-related growth expectations. - **$AMD**: Data not available. - **$AVGO**: Data not available. - **$INTC**: Data not available. Among other semiconductor-related names, **$MU** (Micron Technology) declined sharply by 4.22%, reflecting worries about memory demand and inventory levels. **$MRVL** (Marvell Technology) also slipped 0.96%, pressured by broader chip sector weakness. Taiwan Semiconductor (**$TSM**) dropped 2.39%, impacted by geopolitical concerns and cautious demand outlooks. ## Software & Cloud Enterprise software stocks showed some softness amid the tech pullback: - **$NOW** (ServiceNow) fell 1.67%, pressured by profit-taking after recent gains and cautious guidance from peers. - **$CRM** (Salesforce) data not available. - **$SNOW** (Snowflake) data not available. - **$PLTR** (Palantir Technologies) surged 27.15%, driven by strong backlog growth and renewed investor interest in its AI and government contracts. This standout move contrasts with the broader software weakness and highlights Palantir’s unique positioning in AI-driven analytics and defense applications. ## Tech After-Hours After the market close, Planet Labs PBC (**$PL**) reported strong earnings, which helped fuel its 27.15% rally during regular hours. The company highlighted a $900 million backlog, signaling robust demand for its satellite imaging services. This earnings beat and backlog strength have attracted Wall Street’s attention, positioning Planet Labs as a key AI and geospatial data play. No other major tech earnings or news were reported after hours based on the available data. ## Tomorrow's Tech Watch Investors should monitor upcoming earnings and guidance from key software and semiconductor companies, as these will provide critical insights into demand trends and margin pressures amid a challenging macro environment. ServiceNow’s recent weakness suggests traders will be watching closely for any updates on enterprise IT spending. Additionally, developments around AI investments and partnerships, such as Salesforce’s collaboration with Nvidia on AI agents, will remain a focus. Semiconductor stocks like Micron and Marvell will be key to watch for signs of stabilization or further weakness in memory and chip demand. Finally, geopolitical developments and their impact on supply chains and technology exports will continue to influence tech sector sentiment. Traders should also keep an eye on the broader market’s reaction to inflation data and Fed commentary, which could drive volatility in tech stocks.