Tech Stocks Dip Mildly Amid Strategic Moves and Positive Analyst Ratings

1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Wedbush Securities says performances of Microsoft and AMD alleviate AI monetization concerns, urging investors to focus on industry leaders. Palantir and Microsoft signed a deal to deliver AI services to defense sectors. Goldman Sachs and Raymond James maintain their ratings on Palantir.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. Block disclosed two insider transactions on August 8, with Director Roelof Botha purchasing 313,100 shares on August 6. Block's mid-year report for 2024 showed revenue of $12.113 billion, up 15.08% year-over-year, and net profit of $661 million. Various analysts maintained positive ratings with target prices ranging from $80 to $99.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings reported H1 2024 revenue of $35.92 billion and net profit of $1.72 billion. Mizuho upgraded Vertiv Holdings to Outperform with a price target of $92.00. Goldman Sachs maintains Buy rating with a target of $104.00 on July 25.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike has paused its online sales in Turkey following an increase in import taxation on overseas purchases. Additionally, ahead of the Olympics, Nike strategically signed endorsement deals with athletes like Qinwen Zheng, who won the women's singles tennis gold medal. Finally, Nike disclosed an insider sale by executive Matthew Friend on August 8, 2024.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony Group has seen a strategic shift focusing on entertainment, music, and gaming ecosystems, contributing to its growth, despite challenges in the PlayStation division such as declining sales and team layoffs. PSN issues persist, but efforts are ongoing to enhance user experience with a new review system.