September is a notoriously difficult month for stocks, and already August’s tech rally shows signs of losing ground.
The tech-heavy Nasdaq composite is down 1.1 per cent this week and the S&P 500 dropped 0.7 per cent.
Last month’s tech darlings were some of the biggest fallers this week. Nvidia dropped -4.09 per cent in the last five days, landing at $470.61. Meanwhile, Apple dropped -1.01, coming in at $182.91.
Apple’s fall comes as the Chinese government continues to impose further restrictions on the tech giant. This week the government asked its workers to not do their work on foreign brands, including Apple.
Atlassian was one of the biggest gainers this week with a 7.62 per cent increase in share price in the last five days.
Netflix stocks were up 3.6 per cent, despite news breaking that the streamer had lost subscribers for the first time since launching in Australia.
Adobe and Salesforce both reported gains of more than 4 per cent, rising 4.09 and 4.66 per cent respectively.
|Company||Opening price||Closing price||Change (%)|
|Macquarie Telecom Limited (ASX: MAQ)||$66.81||$67.36||+0.82|
|REA Group (ASX: REA)||$165.20||$161.19||-2.43|
|Atlassian (NAS: TEAM) (USD)||$198.78||$206.40||+7.62|
|Xero (ASX: XRO)||$125.40||$121.49||-3.12|
|Carsales.com (ASX: CAR)||$28.63||$28.39||-0.84|
|NEXTDC (ASX: NXT)||$13.59||$12.92||-4.89|
|WiseTech Global (ASX: WTC)||$69.22||$68.49||-1.05|
|Appen (ASX: APX)||$1.60||$1.50||-6.25|
|Airtasker (ASX: ART)||$0.20||$0.20||-1.50|
|Telstra (ASX: TLS)||$4.00||$3.94||-1.50|
|Adobe (NAS: ADBE) (USD)||$539.88||$561.94||4.09|
|Salesforce (NYSE: CRM) (USD)||$211.75||$221.62||4.66|
|Apple (NAS: AAPL) (USD)||$184.78||$182.91||-1.01|
|Alphabet (NAS: GOOGL) (USD)||$135.39||$134.46||-0.22|
|Meta (NAS: META) (USD)||$297.26||$299.17||0.64|
|Microsoft (NAS: MSFT) (USD)||$328.72||$332.88||1.27|
|Amazon (NAS: AMZN) (USD)||$134.96||$135.36||0.30|
|Nvidia (NAS: NVDA) (USD)||$490.69||$470.61||-4.09|
|Netflix (NAS: NFLX) (USD)||$430.26||$445.76||3.60 |
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