The Week

Spdr Select Tech fell 0.52% this week to close at $198.78, down from $199.81 the previous Friday. The S&P 500 rose 1.15% over the same period, so the ETF lagged the broader market by about 1.67 percentage points. The daily bars show an early push that faded: Monday opened at $200.27 and closed at $200.93 after touching $201.30; Tuesday hit a weekly high of $203.25 and ended at $202.00; Wednesday held at $201.39; Thursday broke lower to a low of $196.48 and finished at $197.78; Friday rebounded slightly to $198.78. For the week, the range was about 3.38%.

Sector News

Tech sector news this week was dominated by AI revenue expectations, chipmaking, and divergence within the group. OpenAI’s revenue came in $20 billion below earlier reports, though a later story said annualised revenue was expected to exceed $70 billion by year-end; the back-and-forth weighed on Oracle and Nvidia, and the Philadelphia Semiconductor Index fell more than 3% on Thursday. BofA noted the third-largest weekly single-stock outflow since 2008, and US equity funds recorded their first weekly outflow in three weeks. Applied Materials and Intel collaborated on AI chipmaking technology, while Apple reportedly cut iPhone 18 Pro orders on weak consumer demand. Palantir gained ground after Barclays and Goldman turned positive on the name, rising 5% to a record high on Friday; Cisco closed up 3.05%.

The Week Ahead

Next week brings a run of US macro data: on 13 October, the NFIB small business optimism index and existing home sales; on 14 October, CPI and core CPI, where prior readings are 3.4 and 2.4 against forecasts of 3.7 and 2.5. A hotter inflation print could shift expectations for the Fed’s next steps. Beyond that, traders will watch whether the AI complex stabilises after the OpenAI revenue scare, and whether Apple’s iPhone 18 production adjustments show up in supply-chain signals.

In Short

The ETF lagged the S&P 500 this week, with pressure from the AI revenue story and a pullback in semiconductors, while software names such as Palantir and Cisco firmed up late in the week. Valuation sits near 4.2x earnings and 1.2x book; the latest single-day money-flow snapshot shows large-lot buyers outpacing sellers by roughly 1.58 to 1, though that is a one-day reading rather than a weekly trend. Next week’s CPI release and follow-through in AI-related names will determine whether this divergence narrows or persists.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.