Software ETF Rallies 14% While Oracle Jumps 25%
Software stocks surged, with the iShares Expanded Tech-Software ETF jumping 14% last week, outpacing the 7.5% rise in semiconductors. Oracle led gains with a 25% jump, while Microsoft notched its best week since March 2020 but remains 24% below its record high.
1. Software Sector Outperforms
The iShares Expanded Tech-Software Sector ETF surged 14% over the last week, outpacing the 7.5% gain in the semiconductor space and marking the strongest weekly performance for software stocks in 2½ decades.
2. Top Performing Software Stocks
Oracle spearheaded the rally with a 25% climb, while RingCentral, Datadog, Snowflake, Shopify, Atlassian and ServiceNow each gained at least 15%, reflecting renewed investor appetite for cloud and higher-beta growth names.
3. Recovery Status of Major Names
Microsoft recorded its best week since the March 2020 pandemic low by rallying back to its 100-day moving average, yet remains 24% below its all-time high. Snowflake sits 6% below its peak, and ServiceNow, HubSpot and Intuit are still down single digits, showing the bounce is strong but incomplete.