Salesforce, Workday, and Adobe gain 3-5% despite broader tech index decline on semiconductor weakness.
Salesforce, Workday, and Adobe climbed 4.9%, 4.3%, and 3%, respectively, in early trading Monday as enterprise software outperformed. The gains contrasted with a nearly 1% decline in the Nasdaq Composite, driven by semiconductor stock weakness.
The tech-heavy index, which includes all three software stocks, faced pressure from underperforming chipmakers. Meanwhile, the IGV software ETF rose, reflecting sector strength amid broader market volatility.
Analysts noted potential upside for cybersecurity firms, citing acquisition integrations and next-gen security demand.