On August 5, iShares Expanded Tech-Software Sector ETF rose 5.07% in regular trading, trading at $102.345/share, with turnover of $1.031 billion.

On the news front, heavyweight constituent Palantir reported Q2 earnings that massively exceeded expectations, surging over 21% intraday and lifting the broader software sector. Palantir posted Q2 adjusted EPS of $0.41, beating the consensus estimate of $0.35 by 17%. Revenue came in at $1.935 billion, up 93% year-over-year, far surpassing the $1.802 billion estimate. Q3 revenue guidance of $2.16 billion also topped the $2.00 billion consensus. The company raised its full-year revenue outlook to $8.15-$8.158 billion from $7.65-$7.662 billion previously, well above the Street estimate of $7.725 billion. CEO Alex Karp described the results as otherworldly, stating demand for AI sovereignty has been fully unleashed and growth momentum will persist for at least 18 months. Deutsche Bank upgraded Palantir from Hold to Buy following the results.

The fund generally invests at least 80% of its assets in the component securities of its underlying index, which measures the performance of U.S.-traded stocks from the software industry and select companies from interactive home entertainment and interactive media sub-industries in the U.S. and Canada.

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