XLK · WMTMT

Aug 20, 2024Feb 21, 2025Aug 25, 2025Feb 24, 2026Aug 25, 2026

Breadth

23 / 73

stocks fell with the index

Concentration

12%

of the decline from ADBE, ACN, INTU

Biggest driver

ADBE −2.39

ADOBE INC, −51.28%

Biggest offset

AAPL +12.54

APPLE INC, +37.83%

What drove it

73 members · detractors first · 2Y · residual 6804.0bp exceeds 60bp gate

The XLK fell 18.94% (−42.48 pts) over two years, but 50 of 73 members went the other way. ADBE and ACN dragged the tape lower, accounting for 12% of the decline.

Read the latest market-close note: Nvidia and Goldman Sachs Lead a Narrow Advance as Energy and Staples Slide

+113.2 pts from 48 gainers−10.0 pts from 25 losers

net −42.5 pts · gainers outweigh losers 11.3 to 1

Stock

Points

Return

XLKsum of all 73 stocks

−42.5

−18.94%

ADBEADOBE INC

−2.4

−51.28%

ACNACCENTURE PLC CL A

−1.4

−41.11%

INTUINTUIT INC

−1.2

−45.70%

NOWSERVICENOW INC

−0.7

−24.26%

SNPSSYNOPSYS INC

−0.7

−26.61%

CRMSALESFORCE INC

−0.6

−20.29%

ITGARTNER INC

−0.5

−59.55%

SMCISUPER MICRO COMPUTER INC

−0.4

−37.04%

CDWCDW CORP/DE

−0.3

−33.66%

FICOFAIR ISAAC CORP

−0.3

−35.03%

ROPROPER TECHNOLOGIES INC

−0.3

−23.56%

TYLTYLER TECHNOLOGIES INC

−0.2

−39.29%

GDDYGODADDY INC CLASS A

−0.2

−38.78%

NXPINXP SEMICONDUCTORS NV

−0.1

−8.26%

WDAYWORKDAY INC CLASS A

−0.1

−16.36%

43 othersclick to expand the full index

+23.2

STXSEAGATE TECHNOLOGY HOLDINGS

+2.5

+722.17%

CRWDCROWDSTRIKE HOLDINGS INC A

+2.5

+178.21%

IBMINTL BUSINESS MACHINES CORP

+2.6

+25.17%

SNDKSANDISK CORP

+2.9

+2,946.85%

AMATAPPLIED MATERIALS INC

+3.7

+136.80%

CSCOCISCO SYSTEMS INC

+4.5

+131.12%

MSFTMICROSOFT CORP

+4.5

+17.36%

LRCXLAM RESEARCH CORP

+4.5

+270.86%

INTCINTEL CORP

+4.6

+316.77%

AMDADVANCED MICRO DEVICES

+5.8

+206.38%

MUMICRON TECHNOLOGY INC

+7.9

+769.33%

PLTRPALANTIR TECHNOLOGIES INC A

+9.7

+434.44%

AVGOBROADCOM INC

+9.8

+118.97%

NVDANVIDIA CORP

+11.2

+67.70%

AAPLAPPLE INC

+12.5

+37.83%

Cap weighting, illustrated

MICROSOFT CORP and MOTOROLA SOLUTIONS INC moved almost identically (+17.36% vs +16.28%), yet MSFT moved the XLK 88.8× as much. In a cap-weighted index, the bigger company's weight turns the same percentage move into far more points.

Attribution map

slicing the −42.48 pt move · cell size = points contributed · color = direction, intensity = return

AAPL+12.5 pts(+37.8%)

NVDA+11.2 pts(+67.7%)

AVGO+9.8 pts(+119.0%)

PLTR+9.7 pts(+434.4%)

MU+7.9 pts(+769.3%)

AMD+5.8 pts(+206.4%)

INTC+4.6 pts

LRCX+4.5 pts

MSFT+4.5 pts(+17.4%)

CSCO+4.5 pts(+131.1%)

AMAT+3.7 pts(+136.8%)

SNDK+2.9 pts(+2,946.9%)

IBM+2.6 pts

CRWD+2.5 pts

STX+2.5 pts

ADBE−2.4 pts

APH+2.3 pts(+140.8%)

WDC+2.3 pts(+829.9%)

KLAC+2.2 pts

MRVL+2.0 pts

PANW

ANET

ADI+1.4 pts

ACN−1.4 pts

GLW+1.2 pts

INTU−1.2 pts

TXN

LITE

NOW

SNPS

TER

CRM

HPE

FLEX

TEL

Concentration curve

cumulative share of the −42.48 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−100%+100%+300%+500%+700%+900%+1,100%+1,300%+1,500%+1,700%+1,900%+2,100%+2,300%+2,500%+2,700%+2,900%

From −59.55% (IT) to +2,946.85% (SNDK). Equal-weight, the XLK would be +100.88% vs the actual −18.94%; the gap is what cap weighting did.

By sector

point contribution · sums to −42.48 pts

-73

+103.2

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUG

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What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

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