Broad market strength lifted SPY +0.32% and QQQ +0.50% overnight, with semiconductor exposure SOXL leading at +3.12%. Within tech, AppLovin (APP) rallied 6.7% on growth momentum, Monolithic Power Systems (MPWR) gained 5.2% following Oppenheimer's AI demand thesis, and Seagate (STX) jumped 5.0% after Morgan Stanley's sector upgrade. However, Lumentum (LITE) fell 6.6% as investors took profits after a 90% Q1 run, while Invesco (IVZ) dropped 5.6% on BlackRock's competing Nasdaq-100 ETF filing threat. VeriSign (VRSN) added 5.5% on upgraded earnings growth expectations and Bitcoin-linked MSTR rose 6.3% on fresh $330 million BTC purchases.
Buy:** Semiconductor and AI-adjacent names like MPWR showing fundamental tailwinds remain attractive on dips; STX's Morgan Stanley upgrade validates hard drive recovery. **Sell/Avoid:** LITE has run too far too fast with valuation concerns mounting—use any strength to trim. **Hold:** IVZ is a tactical short until competitive pressure stabilizes, but broader tech remains supported by AI narratives and rising treasury yields justifying current valuations.