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This article identifies the "major movers" - those stocks that have advanced or declined by 5% today, Thursday, July 25th.

• Yesterday 33 (58%) of the 57 AI stocks that munKNEE tracks on a weekly basis declined by 5% or more and only 1  advanced by more than 5%.
• Today, only 2 declined while 4 advanced and, as mentioned in our previous article (see here), we think this segment of the market should rebound and reach new heights in the months ahead and, as such, now is the time to buy the dip and, as they say, back up the truck and buy with both hands before the slight rebound we are experiencing today really takes hold.

Below are the increases and decreases of today's 6 "major movers" along with a description of their areas of focus, the munKNEE Portfolios they are constituents in,  and whatever news, analyses and/or commentary that explains the reasons behind these moves:

1. ServiceNow (NOW): UP 13.4% today
   • Area of Focus: provides end to-end intelligent workflow automation platform solutions for digital businesses
   • Constituent: Pure-Play Cloud SaaS Computing Portfolio
   • Reason for Major Move: The company announced a generative AI Controller, which connects its Now platform to generative AI tools, unveiled Now Assist for Search to pull information and make searching across the customer environment easier and is expanding its strategic partnership with Microsoft around AI and other use cases. (Source)
2. Atlassian Corporation (TEAM): UP 6.3% today
   • Area of Focus: designs, develops, licenses, and maintains various software products worldwide
   • Constituent: Pure-Play Cloud SaaS Computing Portfolio
   • Reason for Major Move: Company's reported that its earnings per share exceeded analyst estimates in Q2, their quarterly sales were higher than expected and subscription revenue also grew substantially YoY. (Source)
3. SoundHound AI (SOUN): UP 6.2% today
   •  Area of Focus: offers voice AI solutions that let businesses offer conversational experiences to their customer in 25 different languages
   • Constituent: Micro/Small Cap AI Stocks Portfolio
   • Reason for Major Move: GDP increased 2.8% annually in the second quarter largely driven by consumer spending and, since many of SoundHound’s customers are in the restaurant industry, this strength in the consumer market could encourage continued spending on growth initiatives and help the company beat sales expectations. (Source) 
4. D-Wave Quantum (QBTS): UP 5.1% today
   • Area of Focus: develops and delivers quantum computing systems, software, and services worldwide
   • Constituent: Pure-Play Quantum Computing Stocks Portfolio
   • Reason for Major Move: The Company announced the introduction of a new hybrid quantum solver and the deployment of a second U.S.-based Advantage quantum computer. (Source)
5. Infineon Technologies (IFFNY): DOWN 5.8% today
   • Area of Focus: designs, develops, manufactures, and markets semiconductors and semiconductor-based solutions worldwide
   • Constituent: Integrated Device Manufacturers (IDM) Portfolio 
   • Reason for Major Move:  The company’s CFO mentioned prolonged demand weakness in key markets as a reason for lowered expectations
6. STMicroelectronics (STM): DOWN 15.4% today
   • Area of Focus: designs, develops, manufactures, and sells semiconductor products
   • Constituent: Integrated Device Manufacturers (IDM) Portfolio 
   • Reason for Major Move: Company reports that Q2 earnings were hit by weakness in the industrial and automotive sectors (Source)

More By This Author:

The AI/Tech Stock Selloff Is Overdone - It’s Time To Buy The Dip - Here's Why
Almost All AI Stocks Declined Sharply On Wednesday - Here's Why
These 7 AI Stocks Were Major Movers On Monday/Tuesday - Here's Why