Software ETF Jumps 14% Versus 7.5% Gain in Semiconductors
The iShares Expanded Tech-Software Sector ETF gained roughly 14% last week, outpacing the iShares Semiconductor ETF’s approximately 7.5% rally. While Oracle jumped over 25%, companies such as ServiceNow, Snowflake and Shopify climbed at least 15%, leaving semiconductor names like AMD trailing with roughly 7.5% gains.
1. Sector Performance Comparison
Last week the software-focused ETF (IGV) surged about 14%, significantly outpacing the 7.5% gain in the semiconductor ETF (SOXX), which includes companies such as AMD. This divergence underscores renewed investor appetite for cloud and growth software stocks over hardware and chip makers.
2. Leading Software Stock Movers
Major software companies drove the rally, with Oracle jumping more than 25% and RingCentral, Datadog, Snowflake, Shopify, Atlassian and ServiceNow each rising at least 15%. Despite the strong bounce, many of these names remain below their all-time highs, indicating room for further recovery.