Daily Tech Report

Research cutoff: Monday, August 31, 2026, roughly 08:30 BST.
U.S. price cutoff: Friday, August 28 regular-session close.
Horizon: roughly the next 1–7 U.S. trading sessions.
Pre-market note: At this hour it is still before the most liquid U.S. individual-stock premarket period, so I am using confirmed Friday closes plus the latest reliable index-futures snapshot rather than pretending every stock has a meaningful live quote.

The quick read

Monday starts with a worse macro backdrop than Friday ended with.

Fresh fighting between the U.S. and Iran around the Strait of Hormuz pushed Brent crude back above $90 a barrel, while Treasury yields remain elevated after Fed Chair Kevin Warsh's hawkish Jackson Hole speech. Reuters' latest early-morning snapshot had U.S. and European equity futures down roughly 0.4%–0.5%.

That matters for technology because the market is now dealing with two inflation problems at once:

1. Warsh has already made a September rate hike a live possibility.
2. Higher oil can keep inflation pressure elevated and make it harder for the Fed to stay on hold.

The AI fundamental story, however, is still strong. Nvidia just forecast roughly 70% revenue growth next fiscal year, said demand is accelerating even at its current scale, and expects AWS to deploy another 2 million Nvidia GPUs across 2027–2028.

So today's setup is not "AI is broken." It is:

Excellent AI demand is colliding with a less friendly rate-and-oil backdrop. I would prefer relative-strength names on controlled pullbacks and wait for confirmation before buying the semiconductor laggards.

The biggest company event this week remains Broadcom earnings after Wednesday's close, followed by the August U.S. jobs report on Friday.

Market pulse before the U.S. open

Friday itself was already a split market. The Nasdaq fell 0.52%, but Microsoft, Alphabet, Apple, Meta and Amazon all rose while Nvidia, AMD and Tesla fell.

That divergence remains the most useful signal going into Monday.

The tech board

Nvidia: the business story is stronger than the short-term chart

Nvidia's quarter remains the clearest evidence that the AI infrastructure boom has not run out of steam.

The company reported roughly $96.2 billion of quarterly revenue, including around $89 billion from data centers. It guided the current quarter to $108 billion, versus Wall Street expectations of about $104 billion, and made the unusual decision to forecast roughly 70% revenue growth for the following fiscal year.

Nvidia also said its Vera Rubin platform has started shipping and will account for about a fifth of current-quarter data-center revenue. The constraint is not demand; management says it remains supply-constrained, especially around memory and components.

Friday's chart was messy after Thursday's post-earnings surge:

• Friday low: $216.81
• Friday close: $217.55
• Friday high: $229.26

NVDA decision zones

• $216–218: first stabilization area. This is basically Friday's low/close zone.
• $228–230: first meaningful reclaim area.
• Below ~$216: I become more cautious about automatically buying the dip.

My preference today is simple: do not chase the story; make the price prove that buyers are defending the earnings move.

Microsoft: still the cleanest normal setup

Microsoft was one of Friday's best relative-strength signals. The stock gained 1.68% to $513.53 while the Nasdaq fell.

That matters because Microsoft gives exposure to AI from several angles—Azure compute, enterprise software distribution and model access—without requiring the semiconductor group to trade well every day.

There is also an interesting platform-development angle. Reuters reported last week that China's Moonshot AI is in early-stage talks with Microsoft Azure, AWS and Google Cloud about hosting its Kimi K3 model under a revenue-sharing structure. There is no guarantee of a deal, and the talks have political and compliance complications, but it illustrates how cloud providers are becoming distribution marketplaces for competing frontier models rather than betting on a single model family.

Friday's range:

• Low: $504.87
• High: $517.78

MSFT decision zones

• $504–505: my preferred pullback/hold zone.
• $517–518: breakout test.

If Nasdaq futures weakness turns into a real cash-session dip but MSFT continues to hold near $505, that would strengthen the relative-strength case.

Google: still my favorite catch-up candidate

Alphabet finished Friday at $346.59, up 1.74%.

The stock has several small but useful positives behind it:

• Google changed its European spam-policy enforcement to address EU Digital Markets Act concerns, reducing one near-term regulatory risk.
• Google continues expanding Gemini into enterprise verticals, including legal workflows.
• It remains one of the major cloud providers positioned to monetize third-party AI models as well as its own.

Friday's range was $340.27 to $349.14.

GOOGL decision zones

• $340–342: first support area.
• $349–350: immediate breakout test.

This is still one of my preferred names because it is showing relative strength without the same violent post-earnings volatility as NVDA.

Amazon: strongest momentum, but entry quality matters

Amazon was Friday's standout megacap, rising 3.97% to $266.43.

The AI infrastructure backdrop remains supportive. Nvidia said AWS and Nvidia plan to deploy an additional 2 million GPUs across 2027–2028, reinforcing the scale of Amazon's long-term compute buildout.

But a stock can have a strong thesis and a poor immediate entry. Friday's range was $257.78 to $267.56.

AMZN decision zones

• $257–260: much more attractive on a controlled retest.
• $267–268: breakout area.

With futures lower and oil above $90, I would rather see how AMZN behaves on weakness than buy the top of Friday's nearly 4% candle.

Apple: tomorrow starts the Ternus era

Apple closed Friday at $319.70, up 1.63%.

The next Apple-specific catalyst is approaching quickly. John Ternus takes over as CEO on September 1, and Apple's next major product event is scheduled for September 9, where the company is expected to unveil its next iPhone lineup and potentially its first foldable iPhone.

That gives Apple a catalyst path that is less dependent on this week's semiconductor earnings.

Friday's range:

• Low: $315.45
• High: $322.37

AAPL decision zones

• $315–316: first pullback support area.
• $322–323: immediate breakout test.

If rates pressure the entire market but Apple holds above Friday's low, I would view that as constructive.

Meta: legal risk reduced, execution risk remains

Meta rose 1.21% to $578.02 Friday.

The company recently agreed to pay as much as $18 billion over ten years to resolve U.S. lawsuits over children's social-media addiction. The headline number is huge, but Reuters noted that the agreement leaves Meta's personalized feeds and advertising engine largely intact and removes a major legal overhang.

That is fundamentally better than the headline sounds.

At the same time, Reuters' investigation into Meta's internal AI-driven workforce transformation showed that aggressive attempts to replace more software-development work with AI created execution problems and were partially rolled back. That is a useful distinction for investors: AI spending can be strategically important without instantly producing perfect productivity gains.

Friday's range:

• Low: $571.00
• High: $589.19

META decision zones

• $571–572: first support area.
• $589–590: breakout test.

META remains constructive, but I rank it behind MSFT and GOOGL for the next few sessions.

AMD: fresh Europe AI-compute win, but the chart still needs proof

AMD gets one of the freshest positive headlines this morning.

Europe's EuroHPC program selected a roughly €388 million AI supercomputer called LUMI-AI, expected to come online in the second half of 2027. Reuters reports that the system will use AMD chips, IBM storage and Nokia networking.

This is not large enough by itself to transform AMD's earnings, but it is strategically useful evidence that AMD continues winning real high-performance/AI infrastructure deployments outside the U.S. hyperscalers.

The chart, however, remains weak after Friday's 2.33% decline to $465.58.

Friday's range:

• Low: $465.29
• High: $478.75

AMD decision zones

• $465 area: stabilization zone.
• $478–480: first useful reclaim area.

If AMD cannot respond positively to fresh infrastructure demand and instead breaks Friday's low, I would not force the catch-up thesis.

Broadcom: Wednesday decides whether custom AI silicon catches the Nvidia bid

Broadcom closed Friday at $368.79, down 0.74% and reports fiscal third-quarter results Wednesday, September 2 after the U.S. market close. Broadcom's investor-relations site confirms the earnings call for 5:00 p.m. ET.

This is the week's most important company-specific event for the AI trade.

The question is not whether custom AI silicon is a large opportunity. Broadcom has already laid out an enormous long-term AI opportunity. The question is timing and visibility.

Marvell provided the warning last week. Its results were strong, but shares fell sharply because investors focused on how far away meaningful revenue from a major Google custom-chip agreement may be.

That means Broadcom needs to show investors not just a huge pipeline, but a pipeline converting into near-term revenue at the pace the valuation expects.

Friday's range:

• Low: $365.35
• High: $376.59

AVGO decision zones

• $365–369: immediate support/close area.
• $376–377: first breakout area.

Those technical levels matter less once earnings hit because the stock can gap straight through them. I would treat AVGO as an event trade, not a normal support/resistance trade, until after Wednesday.

Tesla: Cybercab remains the catalyst, but the chart is not helping

Tesla closed Friday at $348.75, down 1.71%.

The company has been preparing to start its Cybercab rollout in Austin, initially with employee rides and then integration into the existing robotaxi service, according to reporting cited by Reuters earlier this month. The autonomous-vehicle story remains the main upside narrative.

But the short-term chart is weaker than the large platform names, and higher rates are particularly uncomfortable for Tesla's valuation.

Friday's range:

• Low: $345.20
• High: $358.80

TSLA decision zones

• $345: first support test.
• $355–359: repair/reclaim zone.

Until the stock can recover that upper area, TSLA remains lower priority for me than MSFT, GOOGL or even AMD on a confirmed rebound.

Relative strength: what I would actually pay attention to today

Friday's leaders among the nine names were:

1. AMZN +3.97%
2. GOOGL +1.74%
3. MSFT +1.68%
4. AAPL +1.63%
5. META +1.21%

The laggards were:

• AVGO -0.74%
• TSLA -1.71%
• AMD -2.33%
• NVDA -4.57%

The important idea is not "buy the losers because they are cheaper."

I would separate them into four groups:

• MSFT / GOOGL: relative-strength names where a controlled macro-driven dip could improve the entry.
• AMZN: momentum leader where I want a retest rather than a chase.
• NVDA / AMD: semiconductor rebound ideas that require stabilization first.
• AVGO: earnings event where guidance can reset the whole AI-hardware group.

Today's macro problem: oil is now part of the tech trade

The Gulf conflict is no longer just an energy-market story.

Reuters reported Brent above $90 after fresh U.S.–Iran fighting, with Gulf oil exports still materially below pre-war levels. Higher energy costs feed directly into the inflation debate just as Warsh has made clear that the Fed is not comfortable declaring victory.

That combination keeps Treasury yields elevated and makes expensive growth stocks more sensitive to every headline.

Today itself has relatively little scheduled U.S. data. The main event is the G20 finance ministers and central bankers meeting in North Carolina. The heavy U.S. calendar starts tomorrow.

This week's catalyst calendar

Tuesday, September 1 — ISM Manufacturing + JOLTS

The BLS confirms that July JOLTS is due at 10:00 a.m. ET, and ISM's manufacturing report is also scheduled for the first business day of the month.

Watch the combination rather than one number in isolation:

• Strong activity + strong labor demand can push yields higher.
• Weak data can reduce hike odds but increase growth worries.
• Moderate data is probably the cleanest outcome for large-cap tech.

Wednesday, September 2 — Broadcom earnings

Broadcom reports after the close. For the AI complex, this is the most important corporate event of the week.

Thursday, September 3 — ISM Services + productivity data

Services inflation and employment components matter because the Fed is focused on whether inflation is broadening rather than simply fading in goods.

Friday, September 4 — August jobs report

The BLS confirms the Employment Situation is due at 8:30 a.m. ET.

Reuters' current poll expects roughly 58,000 jobs added and unemployment at 4.1%, following July's surprise 23,000 employment decline.

With September hike odds already around 58%, this report has unusually high market-moving potential.

AI ecosystem: two fresh signals beyond the megacaps

There are two useful industry stories this morning.

First, Reuters reports that Europe is continuing to build sovereign AI infrastructure, with the new LUMI-AI supercomputer using AMD processors. The important theme is broader than the individual contract: governments are becoming another durable buyer of AI compute alongside hyperscalers and AI labs.

Second, Reuters reports that OpenAI has been issued warrants reportedly worth about $5.5 billion in SB Energy, according to draft IPO documents reviewed by the Wall Street Journal. Reuters could not independently verify the details, so this should be treated as reported rather than confirmed economics.

Still, it fits the larger trend: AI labs are becoming deeply involved not only in chips and cloud capacity, but also in power infrastructure. That is another sign that the bottleneck is expanding from GPUs into electricity, networking, memory and data-center buildout.

What I'd watch today

This is a ranking of setups, not a recommendation to buy everything at the open.

1. MSFT — cleanest risk/reward setup

Friday relative strength was excellent. If macro weakness pulls MSFT toward $504–505 and buyers defend it, that is my preferred normal setup.

2. GOOGL — best catch-up / relative-strength idea

I like $340–342 as the first support zone and $349–350 as the breakout test. It has enough company-specific positives without having gone vertical.

3. AVGO — biggest event watch

I would not front-run Wednesday aggressively. Broadcom's guidance can decide whether money rotates back into custom silicon and AI networking or stays concentrated in the megacap platforms.

4. AMD — fresh positive catalyst, but confirmation required

The new European AI-supercomputer win gives AMD a genuine fundamental headline today. I still want $465 to hold and preferably a reclaim of $478–480 before treating it as a catch-up trade.

5. AMZN — strongest momentum, less attractive entry

Friday's +4% move was excellent. I prefer a retest toward $257–260 rather than chasing above Friday's high.

6. NVDA — strongest AI fundamentals, still a volatile entry

The fundamental report was exceptional. The chart needs either a successful defense of $216–218 or a reclaim of $228–230.

7. AAPL — independent catalyst calendar

Tomorrow's CEO transition and the September 9 product event keep AAPL interesting. I would watch $315–316 on weakness.

8. META — constructive but less urgent

Legal risk has improved and Friday's relative strength was good, but I see cleaner near-term setups elsewhere.

9. TSLA — chart needs repair first

The Cybercab story is interesting, but I want to see $355–359 reclaimed before prioritizing it.

Bottom line

Monday's market is starting with a very different tone from Thursday's Nvidia celebration.

The AI demand story itself has not weakened. Nvidia's numbers, AMD's fresh European compute win and ongoing hyperscaler infrastructure plans all point in the same direction: the world still wants more AI compute.

But the macro discount rate is getting harder to ignore.

Oil above $90 + a hawkish Fed + elevated two-year yields means I do not want to blindly chase the highest-beta AI names at the open.

My preferred approach for the next few sessions is:

• MSFT around $504–505 if relative strength holds;
• GOOGL around $340–342 or through $349–350;
• AMD around $465 only if buyers actually defend it;
• AMZN around $257–260 on a controlled retest;
• NVDA $216–218 for stabilization, or $228–230 on a reclaim;
• and AVGO after Wednesday's earnings, when we finally get the next major read on custom AI silicon.

The big picture remains bullish for AI infrastructure. The short-term tape is simply telling us to be more selective about where we express that view.

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Sources

Checked August 31, 2026:

Markets and macro

• Reuters — Morning Bid: Oil climbs as missiles fly in the Gulf
• Reuters — Shares ease in Asia as oil climbs, yields stay high
• Reuters — Wall St Week Ahead: Jobs report, Broadcom results pose next hurdles
• BLS — September 2026 release calendar
• ISM — Manufacturing and Services PMI release calendar

AI and semiconductors

• Reuters — Nvidia forecasts 70% sales growth next year
• Reuters — Europe expands AI computing network with €390 million order
• Reuters — Marvell selloff deepens as investors question Google AI-deal timing
• Broadcom IR — Q3 FY2026 earnings call, September 2

Megacap and AI-platform developments

• Reuters — Moonshot in talks with Microsoft, Amazon and Google over K3 revenue sharing
• Reuters — Meta settlement leaves core advertising business intact
• Reuters — Apple's September 9 iPhone event
• Reuters — Tesla prepares Cybercab rollout
• Reuters — OpenAI reportedly issued $5.5 billion of SB Energy warrants

Price references

• StockAnalysis Friday, August 28 closes and ranges for NVDA, MSFT, AAPL, GOOGL, META, AMZN, TSLA, AMD and AVGO.

Market research only, not individualized financial advice. Short-term levels are observation zones derived from recent trading, not guarantees. Earnings, geopolitical headlines and macro data can gap prices through them.