AI Investors Eye Applied Digital Earnings and Microsoft Event
AI-driven momentum continues to shape investor focus as the third-quarter earnings season approaches later this month. Micron's recent strong earnings report highlighted robust AI demand, lifting sentiment across semiconductor stocks. Now, attention shifts to Applied Digital's upcoming earnings, which could provide further insights into AI infrastructure demand.
This week also brings key events that will keep AI, PCs, and tech infrastructure in the spotlight. Microsoft's Windows and Surface event on October 7 is expected to unveil new devices and updates, with notable attendees including CEO Satya Nadella and Nvidia CEO Jensen Huang. Meanwhile, SF Tech Week (October 5-11) will feature hundreds of events covering AI, startups, and enterprise tech.
In other tech news, smart-ring maker Oura postponed its planned $2.2 billion U.S. IPO, citing volatile market conditions. The company's shares were previously set to list on the Nasdaq on September 30. Additionally, the Invesco QQQ Trust Series 1 (QQQ) rose 0.7% last week, while the iShares Semiconductor ETF (SOXX) gained 2.7%, and the iShares Expanded Tech-Software Sector ETF (IGV) rose 2.3%.
Tech stocks saw mixed movements ahead of Monday, with Lumentum (up 15.3%), Synopsys (up 15.1%), and Teradyne (up 12%) among the gainers, while AppLovin (down 13.7%), Western Digital (down 9.1%), and Qualcomm (down 8.5%) were among the losers.