Software stocks showed significant gains led by $DDOG (+28.2%), $NOW (+5.7%), and the $IGV ETF (+3.6%), with positive movement also noted in $ADBE, $MSFT, $PLTR, and $CRM. Conversely, semiconductor assets faced a downturn, including $AAOI (-14%), $ARM (-10%), $SNDK (-7.1%), and the $SMH ETF (-1.9%), alongside losses for $MU, $INTC, and $AMD. The author views software names like $PLTR, $APP, and $DDOG as cheap following strong earnings, but questions if a sustained rotation from semiconductors into software is underway.