Jun. 27 at 2:13 AM
Technology stocks suffered one of their weakest weeks of 2026 as investors questioned whether massive AI-related investments will generate returns quickly enough to justify current valuations. The Nasdaq Composite and the S&P 500 declined over the week, with semiconductor and memory-chip stocks leading losses as concerns over AI spending and demand weighed on sentiment.
Memory-chip maker Micron and SanDisk were among the biggest decliners, reflecting fears of slowing AI infrastructure momentum. The weakness also spread to the "Magnificent Seven," whose strong performance has been a key driver of broader market gains this year, highlighting the market's continued dependence on a handful of mega-cap technology companies.
Despite the broader selloff, some enterprise software names, including Salesforce, ServiceNow and Palantir, outperformed as investors rotated toward companies expected to benefit from AI adoption with less exposure to costly infrastructure spending.
$SNDK $PLTR $CRM