Editorial companion

What stands out

Bloomberg opened with a striking swing: chip stocks logged their biggest one-day gain in more than a year while the big cloud winners and hardware names diverged sharply. Amazon popped after cloud revenue accelerated for a fifth straight quarter, Microsoft exploded after an earnings beat that added roughly $450 billion in market value in a single session, and Apple sold off on supply-shortage guidance, an instant lesson in how software-driven optimism and physical supply frictions can move markets in opposite directions. For anyone allocating to tech, the clip compresses a long-term story into one volatile morning.