Tech Focus - February 28, 2026 (Morning)

 ## Tech Sector Pulse Tech stocks faced notable pressure overnight as broader market concerns about AI-driven economic disruption intensified. The Nasdaq 100 declined 0.63%, while the Technology sector ETF (XLK) fell 1.60%, reflecting investor caution despite pockets of strength in select software and semiconductor names. The market is digesting mixed signals from AI-related earnings and geopolitical tensions, which are adding to uncertainty around growth prospects and capital spending in the tech space. Investor sentiment is also being weighed down by a sharp banking selloff that has spilled over into tech, exacerbating fears of a deeper market rotation in 2026. While AI remains a key growth driver, worries about potential job displacement and economic slowdown due to AI adoption are tempering enthusiasm. This cautious tone is evident in the underperformance of mega-cap tech stocks and the broader sector, signaling that traders are selectively positioning ahead of upcoming earnings and macroeconomic data. ## Big Tech Watch **$AAPL** Apple shares declined 3.44% to $263.55 amid broader tech weakness and profit-taking following recent gains. There was no specific news overnight, but the stock is likely feeling pressure from the general risk-off sentiment in tech and concerns about consumer spending trends impacting iPhone and services growth. **$AMZN** Amazon edged up 0.63% to $209.23, showing resilience despite the sector selloff. The modest gain may reflect investor optimism around Amazon’s cloud business and e-commerce strength, as well as anticipation of upcoming earnings. No major news was reported overnight. **$TSLA** Tesla dropped 1.66% to $401.80, pressured by the overall tech selloff and concerns about demand in the electric vehicle market. There were no company-specific developments overnight, but the stock remains sensitive to broader market volatility and shifts in consumer sentiment. ## AI & Semiconductors Nvidia’s recent earnings beat has not fully alleviated AI-related anxieties among investors. Despite strong sales growth driven by AI chip demand, Nvidia shares have struggled to maintain momentum, reflecting concerns about the sustainability of AI capital expenditures and the broader economic impact of AI adoption. Reports indicate Nvidia is planning new chips to accelerate AI processing, signaling ongoing innovation in AI infrastructure, but the market remains cautious. Chip stocks broadly are mixed amid the tech selloff. **$AMD** fell 2.11% to $199.37, **$AVGO** declined 1.25% to $317.69, and **$TSM** slipped 0.74% to $374.03. These modest declines suggest investors are taking profits after recent rallies and digesting mixed signals on demand visibility. Data center spending, a key driver for semiconductor demand, is expected to surge 32% this year, which could support chipmakers in the medium term, but near-term uncertainty remains. ## Software & Cloud Enterprise software stocks faced selling pressure overnight. **$CRM** declined 2.51% to $194.46, **$NOW** fell 1.14% to $108.05, **$SNOW** dropped 3.27% to $167.40, and **$ORCL** slid 3.74% to $144.69. The pullback comes despite some positive analyst commentary on cloud growth prospects. Investors appear cautious ahead of earnings and are reassessing valuations amid concerns about macroeconomic headwinds and the pace of enterprise IT spending. ## Tech Catalysts Today Today’s calendar includes earnings from Sociedad Quimica Y Minera de Chile (SQM), a specialty chemicals company with relevance to tech supply chains due to lithium demand for batteries. While not a pure tech name, its results could impact sentiment around EV and battery supply chains. No major tech mega-cap earnings are scheduled today, but traders should monitor updates from chipmakers and cloud software companies in the coming days. Additionally, macroeconomic data such as the February Non-Farm Payrolls report will be crucial for gauging labor market stability, which influences tech spending outlooks. ## Tech Trading Ideas - **$ADSK** (Autodesk): Shares jumped 4.63% to $244.25 on optimism around sales optimization and cloud business growth. Autodesk’s focus on digital transformation tools positions it well to benefit from enterprise IT spending, making it a key stock to watch for momentum. - **$DELL** (Dell Technologies): Surged 21.53% to $147.60 after a blowout earnings report and dividend hike. Dell’s strong data center and infrastructure business growth amid rising demand for AI and cloud hardware make it a compelling trading candidate. - **$NFLX** (Netflix): Rose 12.98% to $95.57, rebounding sharply despite broader tech weakness. Netflix’s streaming growth and content investments could attract buyers looking for growth outside traditional tech sectors. Traders should watch these names for potential continuation of momentum or pullbacks as the market digests broader AI and macroeconomic developments.