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Three software heavyweights stumbled together on Monday, September 28, as Meta (NASDAQ:META)'s enterprise AI push collided with surging bond yields.
Corning (NYSE:GLW), Coherent (NYSE:COHR) and Lumentum (NASDAQ:LITE) fell hard on Monday, September 28, as doubts about AI spending and a jump in bond yields hit the companies that wire the world's data centers.
● nCino (NCNO) closed near $18.60 on Monday, down about 4.2% from $19.41, and about 13% below its September 17 close.
● About 6.6 million shares changed hands, far above the roughly 725,000 traded on Friday, according to exchange data.
● Cable One (CABO) traded down about 11.5% at $12.96 in Monday's afternoon session, from a $14.65 Friday close.
● DigitalOcean (DOCN) closed at $136.29 on Monday, down about 2.5% from $139.75, as cloud and software stocks retreated.
● Agilysys (AGYS) closed at $97.10 on Monday, down about 2.6% from $99.64, and about 11% below its September 14 close.
The rebound follows an unusual first half. First Trust calculated that the Magnificent 7 made up 33.4 percent of the S&P 500 at mid-year, yet three of the seven posted negative returns through June. Microsoft (NASDAQ:MSFT) fell 22.5 percent, Meta 14.5 percent and Tesla …
Advanced Micro Devices (NASDAQ:AMD) joined Nvidia, Broadcom and Micron as the fourth US chipmaker valued at USD 1 trillion, after shares reached a record close near USD 607 on September 21. The trigger was a 10 percent price increase across AI accelerators, consumer GPUs …
The iPhone 18 lineup was unveiled September 9 and went on sale September 18. JPMorgan data published September 28 show lead times steady at 23 days for the iPhone 18 Pro and 29 days for the Pro Max. Separate tracking showed wait times rising …
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