What’s going on here?

Apple moved closer to a $4 trillion valuation this week on strong iPhone demand, even as semiconductor stocks slipped and broader tech indexes struggled to find direction.

What does this mean?

Tech investors had plenty to digest: the Technology Select Sector SPDR Fund posted a modest gain, but semiconductor ETFs and the Philadelphia Semiconductor Index finished lower. Apple stole the spotlight, with Wedbush analysts anticipating the company could beat sales expectations for fiscal Q4 – crediting robust iPhone 17 demand in both the US and China. In M&A news, CoreWeave’s CEO reaffirmed the firm’s $9 billion offer for Core Scientific, which led to a mixed market response: CoreWeave shares slipped, while Core Scientific shares jumped. Meanwhile, platform safety was in focus, as CEOs from Meta, Snap, and Instagram were ordered to answer questions in a Los Angeles Superior Court about social media’s effect on young users, nudging shares of both Meta and Snap higher.

Why should I care?

For markets: Big names steady the ship as volatility swirls.

Apple’s climb toward a $4 trillion valuation stands out in a sector marked by patchy results. Strong iPhone sales have reassured investors, but semiconductors remain under pressure – a reflection of ongoing swings in demand. Major deal activity, like CoreWeave’s $9 billion pursuit, highlights how investor sentiment can shift quickly when risk and reward are up for grabs.

The bigger picture: Regulators keep tech firms on their toes.

The call for social media CEOs to testify about youth safety marks a clear trend: regulators are ramping up accountability for big tech. With more oversight looming in the US and abroad, decisions made in courtrooms and regulatory halls could reshape the industry – tweaking valuations and investor sentiment long after the headlines have faded.

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