# Market Recap: September 24, 2026
Tech stocks ended mixed Thursday as semiconductor weakness overshadowed gains in social media and software.
Key Movers: Chips Slide, Social Soars
META led the charge higher, surging 3.0% to $766.45 as investors rotated into social media platforms ahead of the holiday weekend. Cadence Design (CDNS) also posted strong gains, climbing 2.9% to $318.08, while Synopsys (SNPS) added 1.9% to $420.91, suggesting renewed optimism in chip design software despite hardware weakness.
Semiconductor manufacturers faced heavy selling pressure, with Applied Materials (AMAT) dropping 2.4% to $462.92 and Lam Research (LRCX) falling an identical 2.4% to $299.99. NVIDIA declined 1.6% to $221.88, while memory giant Micron (MU) slipped 1.4% to $1,056.77. The tech-heavy TQQQ leveraged ETF tumbled 2.4% to $76.78, reflecting the sector's mixed performance. Even Amazon couldn't escape the pressure, declining 1.2% to $246.23.
AI Market Outlook
Our sentiment models detect a clear rotation within tech, with investors favoring software and platforms over hardware manufacturers. The divergence between chip designers (up) and chip makers (down) suggests supply chain concerns may be emerging. With META's strong close above $766 and semiconductor weakness below key technical levels, we're seeing classic late-cycle rotation patterns that could persist into Friday's session.
What to Watch Tomorrow
• Semiconductor earnings guidance - Any commentary from chip companies could drive sector direction
• $760 support level for META - A break below could signal the rally is losing steam
• NVIDIA at $220 - Key psychological level that could determine broader AI stock sentiment