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Technology 7 February 2025 - 10 March 2025
Broadcom shares rose 4.7% on Thursday, marking a second consecutive gain, but remain well below their early June highs as investors question the sustainability of AI-driven expectations. Goldman Sachs reduced its 2026 and 2027 smartphone shipment forecasts, citing rising memory costs, and noted that Apple’s planned price increases reflect the impact of the AI chip shortage. Micron’s upcoming June 24 earnings are seen as a key test for the sector. Cerebras Systems gained 9.85% on June 18, up about 9.7% for the week, but still trades significantly below its debut price. Dell lost 2.34% in its latest session but is up 3.5% since June 12. Applied Digital closed up 2.24% Thursday and completed a $1.59 billion senior-secured notes sale. Seagate shares rose 0.39% Thursday and are up nearly 15% for the week, with AI storage demand noted as a driver. Applied Optoelectronics fell 3.3% Thursday and 4.3% for the week, with recent filings and management comments highlighted. Western Digital surged 4.79% Thursday and 32.6% for the week, outperforming the Nasdaq Composite. Rocket Lab ended Thursday down 0.69% but is up 4.7% for the week, helped by an analyst upgrade and index inclusion. Marvell rose 7.27% Thursday and is set to join the S&P 500, with KeyBanc raising its price target. The S&P 500, Nasdaq, and Dow all posted gains for the week, with semiconductor stocks rebounding, led by Intel’s 10.6% jump after news of an Apple partnership. Sandisk climbed 11.54% Thursday, with the semiconductor index up 7% for the week. Astera Labs jumped 11.31% Thursday and 13.6% for the week, ahead of its addition to the Nasdaq-100. Vertiv rose 4.87% Thursday and nearly 10% for the week, with AI data-center cooling demand cited. Keel’s shares rose on both the TSX and Nasdaq. TSMC and Nvidia posted strong weekly gains, while Microsoft lagged the broader market. Shopify’s shares were little changed for the week after a midweek drop. Micron rose 8.7% Thursday and 15.5% for the week, with investors awaiting its earnings. Snap declined for a third straight session.