Why Tyler Technologies Stock Tanked This Week
Yahoo Finance ·
This week was one to forget for Tyler Technologies ( TYL +3.12% ) and its investors. The dynamic in tech stocks was a shift out of software titles and into companies active in the artificial intelligence (AI) hardware space. Although Tyler is somewhat insulated from such potential disruption, its shares took quite a hit anyway. They fell by nearly 10% across the week, according to data compiled by S&P Global Market Intelligence . In recent weeks, major tech companies have indicated that they aim to spend significant amounts of capital on AI hardware. This implies that the proportion of IT budgets will shift, perhaps meaningfully, from software to hardware -- hence that mirroring trend with tech investors. Concerns about this grew significantly on Wednesday, when tech sector giant Alphabet reported its second-quarter earnings. The company did well during the quarter, as it frequently does, yet many investors were worried about management's pronouncements regarding capital expenditures.
DYAX Investor Sentiment
Bullish (Long) 58% · Bearish (Short) 42%
325 participants
Related News
- Verizon Just Signed a More Than $1 Billion Dark Fiber Deal With Google. Here's What It Means for the 6.3% Dividend.
- Why Verizon Stock Climbed Today
- 10 Years Later: 5 Brexit-Inspired Stocks
- Kevin Warsh Just Vowed to Bring a "Regime Change" to the Fed. It Could Rattle Wall Street.
- Big Banks Cash In, IBM Crashes Out
- Michael Saylor's Strategy Just Unveiled a New Bitcoin Banking Index. Here's What That Signals for MSTR Stock.
