Salesforce, ServiceNow, Micron, Elastic, Veeva Systems, and SentinelOne rose.

Is this move temporary or long-term?

It's unclear, but it reflects a short-term sector rotation trend.

What is Micron's role in the software stock rally?

Micron is a chip stock whose prior gains prompted profit-taking and rotation into software.

Enterprise Software Stocks Surge Amid Chip Profit-Taking

Enterprise software stocks surged in the afternoon session as investors rotated into oversold names amid profit-taking in chip stocks. The move reflects a sector rotation trend.

July 14, 2026

1 min read

Source: StockStory

Enterprise software stocks, including Salesforce (CRM), ServiceNow (NOW), and Micron (MU), saw a notable rally in the afternoon trading session as investors took profits in chip stocks and rotated into undervalued software names.

Possible Reasons

The move is attributed to a sector rotation from chip stocks, which had recently experienced significant gains, to enterprise software stocks that had lagged behind. This type of rotation often occurs when investors seek buying opportunities in sectors that have not appreciated as much.

Context

Over the past month, chip stocks like Micron (MU) had rallied strongly, prompting some investors to lock in profits. In contrast, enterprise software stocks such as Salesforce (CRM) and ServiceNow (NOW) had underperformed, making them attractive for bargain hunting.

Similar Moves in the Sector

The rally was not limited to the mentioned stocks; other software companies like Elastic, Veeva Systems, and SentinelOne also rose by varying degrees.

Frequently Asked Questions

They rose due to profit-taking in chip stocks and rotation into undervalued software names.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.