Over the long term back-tested period, the index outperformed its benchmark by 150 bps since April 30, 2006, while also demonstrating lower volatility with reduced drawdowns.
While AI investment may be booming across the world, analysts are worried that hyperscale investments may slow down if near-term returns from AI applications remain difficult to quantify.
Shares of non-lethal weapons company Byrna (NASDAQ:BYRN)
jumped 4.8% in the afternoon session after an analyst at B. Riley maintained a 'Buy' rating and a $46 price target on the stock.
Shares of semiconductor manufacturing equipment maker KLA Corporation (NASDAQ:KLAC)
fell 2.8% in the afternoon session after a broad sell-off in the semiconductor sector and U.S. restrictions on chip equipment sales to China.
Shares of memory chips maker Micron (NYSE:MU)
fell 2.7% in the afternoon session after the semiconductor sector pulled back, triggered by a disappointing forecast from peer Marvell Technology.
Shares of cloud security and performance company Cloudflare (NYSE:NET) fell 2.8% in the afternoon session after a broad-based selloff in the technology sector pulled the wider market down from recent highs.
Shares of ride sharing and on-demand delivery platform Uber (NYSE:UBER)
fell 3.2% in the afternoon session after the company, along with rival Lyft, signed off on a deal to allow its California ride-hail drivers to unionize.
Shares of self defense company AXON (NASDAQ:AXON)
fell 3.6% in the afternoon session after a broader downturn in the technology sector placed the company among the Nasdaq 100's biggest decliners.
Shares of semiconductor equipment maker Lam Research (NASDAQ:LRCX)
fell 4.3% in the afternoon session after the U.S. government tightened restrictions on the use of American semiconductor manufacturing equipment in China.
Shares of digital advertising platform Magnite (NASDAQ:MGNI) fell 2.5% in the afternoon session after a broader market sell-off particularly impacted technology stocks.
Shares of chip designer Allegro MicroSystems (NASDAQ:ALGM) fell 3.5% in the afternoon session after the broader semiconductor industry declined following new U.S. trade and export restrictions.
Shares of cloud communications provider 8x8 (NASDAQ:EGHT) fell 2% in the afternoon session after a broader market selloff that particularly impacted technology stocks.
Shares of power management chips maker Monolithic Power Systems (NASDAQ:MPWR)
fell 3.1% in the afternoon session after broad sell-off in the semiconductor sector, triggered by a disappointing forecast from peer chipmaker Marvell Technology.
Shares of customer experience management platform Sprinklr (NYSE:CXM) fell 2.3% in the afternoon session after the major indices retreated particularly affecting technology stocks. The move comes as the wider market took a breather from a recent rally, with major indexes declining. The tech-heavy Nasdaq Composite was down 1.2%, creating headwinds for tech companies across the board. Sprinklr's decline appears to be tied to this general market sentiment rather than any specific company news. As of the previous day, analyst consensus for the stock was a "Hold," indicating a neutral stance before the market-wide dip.
Roblox Corporation (NYSE: RBLX) shares are trading lower Friday as the stock faced competing pressures from analyst support, unusual options activity and ongoing legal challenges.
While Nvidia has historically averaged a one-day change of nearly +/-8% following earnings, its reaction to this quarter's report was a decline of less than 1%.
Stay updated with the movements of the S&P500 index one hour before the close of the markets on Friday. Discover which stocks are leading as top gainers and losers in today's session.
