XLK · WMTMT

Oct 4, 2024Apr 8, 2025Oct 9, 2025Apr 10, 2026Oct 9, 2026

Breadth

20 / 75

stocks fell with the index

Concentration

19%

of the decline from ADBE, ACN, ORCL

Biggest driver

ADBE −2.03

ADOBE INC, −52.24%

Biggest offset

NVDA +15.48

NVIDIA CORP, +83.82%

What drove it

75 members · detractors first · 2Y · residual 6693.4bp exceeds 60bp gate

The XLK fell 11.77% (−26.51 pts) over two years, but 55 of 75 members went the other way. ADBE and ACN dragged the tape lower, accounting for 19% of the decline.

Read the latest market-close note: Goldman and Microsoft Push the Dow to a Large Gain While Telecoms Sink Communication Services

+128.3 pts from 51 gainers−10.8 pts from 24 losers

net −26.5 pts · gainers outweigh losers 11.9 to 1

Stock

Points

Return

XLKsum of all 75 stocks

−26.5

−11.77%

ADBEADOBE INC

−2.0

−52.24%

ACNACCENTURE PLC CL A

−1.5

−39.99%

ORCLORACLE CORP

−1.4

−15.13%

CRMSALESFORCE INC

−1.0

−19.33%

INTUINTUIT INC

−1.0

−49.75%

NOWSERVICENOW INC

−0.9

−23.26%

ITGARTNER INC

−0.5

−61.96%

ROPROPER TECHNOLOGIES INC

−0.3

−32.36%

FICOFAIR ISAAC CORP

−0.3

−65.10%

CDWCDW CORP/DE

−0.3

−33.97%

SMCISUPER MICRO COMPUTER INC

−0.2

+1.52%

WDAYWORKDAY INC CLASS A

−0.2

−23.01%

MSIMOTOROLA SOLUTIONS INC

−0.2

+0.49%

TYLTYLER TECHNOLOGIES INC

−0.2

−43.15%

SNPSSYNOPSYS INC

−0.2

+2.18%

45 othersclick to expand the full index

+27.7

STXSEAGATE TECHNOLOGY HOLDINGS

+2.8

+651.55%

CRWDCROWDSTRIKE HOLDINGS INC A

+3.0

+276.46%

SNDKSANDISK CORP

+3.3

+3,154.77%

APHAMPHENOL CORP CL A

+3.4

+41.61%

MSFTMICROSOFT CORP

+3.9

+30.39%

AMATAPPLIED MATERIALS INC

+4.2

+154.80%

CSCOCISCO SYSTEMS INC

+4.4

+132.78%

LRCXLAM RESEARCH CORP

+4.6

+296.47%

PLTRPALANTIR TECHNOLOGIES INC A

+7.2

+422.49%

INTCINTEL CORP

+7.9

+363.48%

AMDADVANCED MICRO DEVICES

+8.0

+255.82%

MUMICRON TECHNOLOGY INC

+9.6

+912.63%

AVGOBROADCOM INC

+10.3

+107.83%

AAPLAPPLE INC

+12.0

+49.53%

NVDANVIDIA CORP

+15.5

+83.82%

Cap weighting, illustrated

MICROSOFT CORP and QNITY ELECTRONICS INC moved almost identically (+30.39% vs +30.85%), yet MSFT moved the XLK 386.5× 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 −26.51 pt move · cell size = points contributed · color = direction, intensity = return

NVDA+15.5 pts(+83.8%)

AAPL+12.0 pts(+49.5%)

AVGO+10.3 pts(+107.8%)

MU+9.6 pts(+912.6%)

AMD+8.0 pts(+255.8%)

INTC+7.9 pts(+363.5%)

PLTR+7.2 pts(+422.5%)

LRCX+4.6 pts(+296.5%)

CSCO+4.4 pts(+132.8%)

AMAT+4.2 pts(+154.8%)

MSFT+3.9 pts(+30.4%)

APH+3.4 pts

SNDK+3.3 pts

CRWD+3.0 pts

STX+2.8 pts

PANW+2.4 pts

WDC+2.2 pts

ANET+2.1 pts

KLAC

MRVL+2.0 pts

ADBE−2.0 pts

IBM

DELL

ADI

ACN

ORCL

TXN+1.2 pts

GLW

LITE

CRM

INTU

HPE

DDOG

Concentration curve

cumulative share of the −26.51 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%+3,100%

From −65.10% (FICO) to +3,154.77% (SNDK). Equal-weight, the XLK would be +108.92% vs the actual −11.77%; the gap is what cap weighting did.

By sector

point contribution · sums to −26.51 pts

-75

+117.5

The year, session by session

every trading day of 2026 · hover for the move

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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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