TMTB EOD wrap

Feb 27, 2026

∙ Paid

Good afternoon. Early one today. QQQs -55bps acting decently despite some fears around XYZ’s 40% cut reduction. Semis/Software both down equally today so no big rotation under the surface. GARP/Quality continues to outperform today helped by NFLX +12% / SPOT +2% in internet and ADSK +6% in software.

MS TMT will dominate conversations next week, which is biggest and most well attended one of the year. That starts Monday and runs through Thursday (Dario keynote on Tuesday, Jensen & Satya keynotes on Wed). Full Schedule here:

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