Sector Update: Tech

Sector Update: Tech

MT newswire2026/08/28 19:27

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03:27 PM EDT, 08/28/2026 (MT Newswires) -- Tech stocks were lower late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.6%. The Philadelphia Semiconductor index was down 3.4%. In corporate news, Microsoft (MSFT) workers have raised concerns about the impact of its AI data centers on energy use, water consumption, emissions, and local communities, Bloomberg reported, citing Development Chief Noelle Walsh's memo to employees. Microsoft shares were up 1.7%.

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Michael Burry suggested that the AI bubble could burst as early as next summer and has replaced all his short positions on Micron, Nebius, SOXX semiconductor ETF, and Palantir with put options to obtain lower cost and higher leveraged short exposure. He believes the AI boom is built on the unproven assumption of "sustained capital expenditure," and once revenues disappoint, capital will quickly flee.

华尔街见闻•2026/09/29 04:01