Tech Up as Traders Buy Back Into Beaten-Down Sector -- Tech Roundup

Dow Jones

Mar 12, 2025

Shares of technology companies rose as the sector found some stability in the wake of a rout on Monday.

After a yearlong speculative boom based on ebullience about the new capabilities of generative AI, the mega-cap artificial-intelligence firms may be facing a "major top" akin to the 2000 peak in Dotcom stocks, said Lorenzo Di Mattia, manager of hedge fund Sibilla Global Fund.

Last week, the technology sector saw the biggest single-stock outflows since October, according to a client survey from Bank of America Securities.

Shares of the Roundhill Magnificent Seven exchange-traded fund, which tracks seven of the largest U.S. tech companies, ticked up, but remains down by roughly 14% for the year-to-date.

Oracle shares slid after the business software maker's earnings lagged Wall Street expectations, and even as it forecast brisk growth in its data-center operations for the year ahead.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

March 11, 2025 17:31 ET (21:31 GMT)

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