Nasdaq falls by 0.78% as Micron plunges nearly 10%, semiconductor sector under pressure

Palo Alto Networks and Software Drive the Market Forward

In a generally bleak environment, technology stocks focused on software and security have managed to stand out. Palo Alto Networks led the gains with a surge of 4.99% to $154.35, confirming investors' appetite for cybersecurity players. Workday also benefited from this trend, rising 3.70% to $128.77, while The Trade Desk increased by 3.43% to $22.01. The cybersecurity sector as a whole shone: Zscaler climbed 3.08% to $137.26 and CrowdStrike rose 2.84% to $380.06. Major professional software players were not left behind. Intuit gained 3.02% to $429.03, Adobe 2.68% to $241.13, and Autodesk 2.54% to $235.68. CoStar Group and Atlassian rounded out this positive picture with increases of 2.82% to $40.89 and 2.70% to $66.88, respectively. This momentum reflects a shift in capital flows toward growth stocks considered more defensive in an uncertain environment.

Micron and the Semiconductor Market in Turmoil

The downside was concentrated in the semiconductor sector, which underwent a harsh correction. Micron Technology experienced the heaviest drop on the Nasdaq, plunging 9.92% to $321.80, significantly impacting the index. Marvell Technology was not spared, falling 7.45% to $87.81, while Lam Research dropped 5.43% to $199.93. Arm Holdings slid 4.97% to $136.96, and Onsemi decreased 4.61% to $55.66. Intel, already under pressure for several sessions, lost 4.50% to $41.19. Suppliers to the chip industry also suffered: KLA Corporation fell 4.20% to $1,382.58 and Applied Materials dropped 4.17% to $323.12. Baker Hughes slipped 4.02% to $60.68, and even Palantir Technologies, focused on software but exposed to artificial intelligence, lost 3.85% to $137.55. This wave of skepticism reflects profit-taking after the sector's strong gains in recent months.

A Cautious End to the Quarter

The session on March 30 highlights the prevailing nervousness just hours before the close of the first quarter of 2026. In the absence of a major catalyst, investors focused on sector rotations, moving away from semiconductors in favor of software stocks perceived as more stable. The Nasdaq, at 22,953.38 points, remains near its recent highs but struggles to gain new momentum. Upcoming sessions are expected to be influenced by the release of the initial quarterly results and US economic indicators, which could provide a clearer direction for the tech market.