本周市场风向突变，此前持续受压的软件类股重获资金青睐，而半导体板块则出现回调。跟踪软件股的iShares ETF本周涨幅约达6.5%，同期追踪半导体制造商的ETF跌幅约5.7%，二者表现差距突破12个百分点。
年内跌幅均超15%的软件板块权重股——ServiceNow、Intuit与Salesforce，周四集体跻身标普500指数涨幅榜前列。反观半导体巨头英伟达近期下跌约1.3%，光纤供应商兼近期人工智能宠儿康宁公司暴跌8%，成为标普500中表现最差的成分股之一。
软件板块在2026年初表现疲软，主因投资者担忧人工智能技术可能侵蚀传统软件需求。而半导体板块则受益于科技巨头大规模数据中心建设的资本开支，年内走势相对稳健。
不过本周的反弹尚未扭转整体趋势。台积电和阿斯麦年初至今涨幅显著，而软件ETF年内累计跌幅仍超过17%。
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