The tech sector is trading lower today, trailing slight gains in the broader market. Semiconductors are showing relative weakness as well with the SOX trading 0.6% lower. Within the chip index, STM (-2.9%) is a notable laggard. Among other major indices, the SPY is trading 0.04% higher today, while the QQQ and the NASDAQ are trading 0.3% lower on the session. Among tech bellwethers, INTC (-2.6%) is showing notable weakness. In news, MLNX (-10.3%) announced the retirement of its CFO.
In notable analyst upgrades this morning in the tech space, S (+4.2%) was upgraded to Buy at Nomura and AMD (+2.6%) was upgraded to Neutral at Goldman. Among downgrades, ERIC (-0.3%) was downgraded to Neutral at UBS, DOX (-1.0%) was downgraded to Hold at Jefferies and Argus downgraded STX (-0.8%) to Hold. PANW (+1.2%) is the only notable name in tech scheduled to report quarterly results today after the close.






