Shares of cybersecurity-related companies are trading lower. Akamai's seven-year, $11.6 billion cloud services agreement with Anthropic may be weighing on the sector due to losing business to a competitor, as well as the heavy capex burden and dilution incumbent upon the company as part of the deal.

Chip Stocks Endure Longest Losing Streak Since 2006 as CoreWeave Credit Concerns Mount: This Week on Wall Street

The iShares Semiconductor ETF is on a nine-session losing run unseen since May 2006, as the KOSPI posts its worst week since 2008, optical names suffer dot-com-era drops and Bank of America sees a Cisco echo.

Shares of software companies are trading lower amid a rotation out of technology and AI-related stocks. Rising inflation concerns and elevated oil prices are fueling expectations for further Fed tightening, while elevated borrowing costs could weigh on demand, valuations and debt metrics.

Nasdaq 100 Slides As Micron, SanDisk, CoreWeave Sink: Stock Market Today

The Nasdaq 100 fell 1.5% at midday Friday as memory chips and AI-debt names sold off, while Fed Chair Warsh declined to rule out an October hike after hot CPI and PPI. WTI held near $96, the 10-year yield hovered around 5.1%, gold bounced toward $4,200 and bitcoin traded near $81,300.

Keybanc Maintains Overweight on CrowdStrike Holdings, Raises Price Target to $265

Mizuho Maintains Underperform on Fortinet, Raises Price Target to $160

Wells Fargo Maintains Underweight on Fortinet, Raises Price Target to $160