Market Overview - The S&P 500 is experiencing its third consecutive week of declines, down approximately 0.5% shortly after the opening bell [1] - The ongoing war in Iran is contributing to uncertainty in the stock market, with rising oil prices impacting investor sentiment [2] Economic Indicators - Recent inflationary indicators, including the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE), were flat and did not significantly influence market movements [2] - The Commerce Department reported that economic growth (GDP) was slower than expected in the final three months of 2025, while core inflation began to rise at the start of 2026 [2] Technology Sector Performance - Tech stocks have outperformed the broader market, as indicated by the State Street Technology Select SPDR ETF, which remained effectively flat this week [4] - Memory chip stocks are leading the technology sector, with notable performances from specific companies [4] Company Highlights - **Sandisk**: - Sandisk's stock surged 27% this week, making it the best-performing tech stock on the S&P 500 [5] - Year-to-date, Sandisk is up 182% and has increased 1,230% over the past year [5] - The surge is attributed to reports of NAND memory drives being sold out for 2026, leading to higher demand and prices [6] - Despite its growth, Sandisk is trading at a reasonable valuation of 15 times forward earnings [6] - **Ciena**: - Ciena's stock rose approximately 15.5% this week, marking it as the second-best-performing tech stock [7] - Year-to-date, Ciena's stock is up 45% and has increased 412% over the past year [7] - The positive performance was driven by a strong earnings report that exceeded analysts' expectations [8]