Tech stocks saw a rebound in trading last week, as softer-than-expected inflation boosted hopes that the US Federal Reserve would soon curb the pace of key tightening. its strong monetary book. The deceleration in consumer price growth is a boon for a struggling sector, which is already reeling from earnings disappointments and layoffs from Twitter, Meta Platforms, ride-sharing company Lyft and the tech giant. Private fintech company Stripe. The tech-heavy Nasdaq Composite led a stock rally last week, gaining 8.1% to post its biggest weekly gain since March, beating other major indexes like the Dow Jones Industrial. Average and S&P 500. Unsurprisingly, technology stocks were among the best performing individual stocks globally last week. Of the 25 stocks on the MSCI World Index with a gain of more than 20%, 7 are in the technology sector. Leading the group is California-based cloud communications company RingCentral, whose stock price rose 34.9% last week. Despite delivering third-quarter earnings that “exceeded guidance on every key indicator,” the company announced on Thursday that it was cutting 10 percent of its workforce, joining a group of public companies. Technology has taken similar measures in recent weeks. Among analysts of the stock, 70% have a “buy” rating on the stock, giving the stock an average upside potential of 33%, according to FactSet data. Israeli solar technology company SolarEdge Technologies was another top performer last week. The Nasdaq-listed company rallied 31.9% last week, after the company reported record revenue that beat market expectations, and management also aimed for continued growth in the fourth quarter. . The stock is rated “buy” by 64% of the analysts that include it, who generally give it a 16.6% upside potential. Shares of cloud communications software maker Twilio rose 29.3% last week, beginning a more than 30% decline in share price that began after the company announced third-quarter results with a massive expansion of the stock market. low revenue expectations. With a bounce back, the stock now has an average upside potential of 46.7%, with nearly 60% of analysts rating it as a buy. Other tech stocks that jumped last week included cloud data platform provider Snowflake, semiconductor company Applied Materials and database platform provider MongoDB.