Tech shares led the ASX 200 amid NVIDIA scandal and Microsoft outage last week

详细摘要

Xero's 1H FY27 results and a strong lead from Wall Street pushed the tech sector higher. The post Tech shares led the ASX 200 amid NVIDIA scandal and Microsoft outage last week…

S&P/ASX 200 Index (ASX: XJO) tech shares led the 11 market sectors with a 2.18% gain last week.

Meanwhile, the benchmark index rose 0.68% to close at 9,082.2 points on Friday.

Surprisingly upbeat half-year results from a local tech company and a strong lead from Wall Street were behind the sector's outperformance.

Overnight on Thursday, news broke that NVIDIA Corp (NASDAQ: NVDA) co-founder and CEO Jensen Huang had resigned.

Huang left the company he had led for 33 years following the fallout of his alleged affair with a woman suspected of being a Chinese spy.

NVIDIA is the second-largest publicly listed company in the US and is likely held in most Australians' superannuation portfolios.

Then on Friday, Microsoft Corp (NASDAQ: MSFT) endured an all-day global outage affecting Microsoft 365, Teams, and Outlook.

NVIDIA shares fell 11% last week; however, the Nasdaq Composite Index (NASDAQ: .IXIC) still managed to rise 3.2%.

This strong lead from Wall Street helped propel Australian tech shares higher last week.

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