# MongoDB falls 6% and Oracle slides on AI software profit worries; Micron results due after the bell _MongoDB fell 5.8% and Oracle shed 4.6% on Wednesday as investors questioned near-term AI software earnings visibility. Dell Technologies bucked the selloff, gaining 1.5% on continued AI server demand, while Micron's after-hours earnings loomed as the session's biggest follow-on catalyst._ **Published:** 2026-06-24 **Source:** https://www.startuphub.ai/ai-news/ai-stocks-daily/2026/ai-stocks-2026-06-24 --- **MongoDB Inc. (NASDAQ: MDB) tumbled 5.8% and Oracle Corp. (NYSE: ORCL) shed 4.6% on Wednesday as investors questioned whether AI software sector valuations can survive a prolonged wait for material earnings uplift.** The S&P 500 slipped 0.1% to 7,358, the Nasdaq Composite fell 0.4% to 25,477, and the SOXX semiconductor ETF edged 0.3% lower to 601.50, with Micron Technology's after-hours quarterly results the session's defining catalyst. What we track This recap analyzes the top 25 publicly-listed AI stocks selected by these criteria: **chips and chip equipment** ($NVDA, $AVGO, $AMD, $ARM, $INTC, $TSM, $ASML, $AMAT, $LRCX, $SMCI, $DELL); **hyperscalers and AI labs** ($MSFT, $GOOGL, $AMZN, $META, $ORCL, $CRM, $NOW); **pure-play AI and data infrastructure** ($PLTR, $SNOW, $MDB, $DDOG); **AI-adjacent security and platform** ($CRWD, $NET, $PANW); plus **$TSLA** for autonomy and **$BIDU** for the China-AI overhang. Macro reference: $SOXX (semis ETF), S&P 500, Nasdaq Composite. End-of-day prices via Yahoo Finance. ## Today's biggest movers | Ticker | Close | Day | 1mo | YTD | | --- | --- | --- | --- | --- | | $DELL | $434.06 | +1.47% | +42.28% | +239.64% | | $TSM | $440.83 | +1.02% | +6.91% | +37.93% | | $DDOG | $222.65 | +0.94% | -0.45% | +66.44% | | $LRCX | $374.80 | +0.93% | +16.15% | +102.53% | | $AMAT | $588.97 | +0.53% | +29.48% | +119.05% | | $MDB | $302.44 | -5.77% | -1.60% | -24.32% | | $ORCL | $157.53 | -4.62% | -18.40% | -19.51% | | $PLTR | $113.50 | -2.74% | -16.91% | -32.38% | | $SMCI | $32.45 | -2.61% | -12.53% | +4.81% | | $MSFT | $365.46 | -2.27% | -12.16% | -22.73% | ## MongoDB slides 6% as post-earnings momentum fades MongoDB Inc. (NASDAQ: MDB) closed at $302.44 on Wednesday, its sharpest single-session drop in weeks, as sellers unwound a portion of the gains earned after a strong fiscal first quarter. MDB's Q1 2026 results beat on both lines: revenue of $687.6 million outpaced the $664.2 million analyst consensus by 3.5%, and adjusted EPS of $1.32 topped the $1.18 estimate by 11.5%. The stock had run from around $325 to nearly $360 following those results, and Wednesday's move represents a partial give-back as the broader AI software complex softens under macro and valuation pressure. Tigress Financial analyst Ivan Feinseth maintained a Buy rating and raised his price target to $515 from $430 this month. Scotiabank also raised its target, moving to $395 from $310 with an Outperform rating. MDB's next earnings report is scheduled for August 27. [MDB chart by TradingView](https://www.tradingview.com/symbols/NASDAQ-MDB/?aff_id=158908) ## Oracle sheds 5% as AI data-center pivot weighs on near-term margins Oracle Corp. (NYSE: ORCL) fell 4.6% to $157.53, extending a month-long retreat that has taken the stock down 18.4% in June and 19.5% year-to-date. The company beat its fiscal Q4 2026 earnings estimate - EPS of $2.11 against consensus of $1.89 - and delivered full-year 2026 revenue of $67.36 billion, a 17.4% increase over the prior year. However, Oracle simultaneously announced a 13% workforce reduction as management redirects capital toward a $70 billion AI data-center build-out, a commitment analysts flagged as a meaningful near-term margin headwind with a long payback horizon. The average Wall Street price target of $252.64 implies roughly 60% upside from current levels, reflecting the gap between long-term confidence in Oracle's cloud infrastructure positioning and near-term execution risk. The next earnings call is September 8. [ORCL chart by TradingView](https://www.tradingview.com/symbols/NYSE-ORCL/?aff_id=158908) ## Palantir extends losing streak toward worst monthly drop since early 2021 Palantir Technologies Inc. (NYSE: PLTR) dropped 2.7% to $113.50, and is now down 16.9% for the month, a pace that would mark the stock's steepest monthly decline since February 2021 if it holds. The sell-off sits in stark contrast to the company's operating fundamentals: Q1 2026 revenue grew 85% year-over-year, and management raised its full-year guidance substantially. Rosenblatt Securities analyst John McPeake maintained a Buy rating with a $225 price target, citing Palantir's ontology platform as a durable competitive moat and noting significant upside from prevailing levels. With the stock down 32.4% year-to-date after a dramatic run-up through 2025, investors appear to be resetting expectations around how much of the AI platform narrative was already priced in at the peak. For context on the multi-day AI software rotation affecting Palantir and its peers, see [Tuesday's recap on the semiconductor and software sell-off](https://www.startuphub.ai/ai-news/ai-stocks-daily/2026/ai-stocks-2026-06-23). [PLTR chart by TradingView](https://www.tradingview.com/symbols/NYSE-PLTR/?aff_id=158908) ## Dell bucks the trend as AI server backlog holds firm Dell Technologies Inc. (NYSE: DELL) added 1.5% to $434.06, the strongest day-session performance in the 25-ticker universe. The company's Q1 2026 results showed revenue growth of 87.5% year-over-year, driven by hyperscaler and enterprise demand for AI-optimized server infrastructure. Analysts covering DELL set an average 12-month price target of $465.95, with the most bullish estimate at $700. Dell is the year's standout AI infrastructure beneficiary, up 239.6% year-to-date, and Wednesday's session offered no new catalyst - simply the quiet bid that tends to accompany a company with a growing AI hardware order book. For more on how Dell has separated from the broader hyperscaler trade this year, see [Monday's recap on the hardware-versus-software divergence](https://www.startuphub.ai/ai-news/ai-stocks-daily/2026/ai-stocks-2026-06-22). [DELL chart by TradingView](https://www.tradingview.com/symbols/NYSE-DELL/?aff_id=158908) ## Notable but quieter **$ARM:** Arm Holdings plc (NASDAQ: ARM) closed down 2.0% to $359.08 but posted the widest intraday range in the universe, trading from $344.21 to $374.56 - an 8.5% spread relative to close. The stock is still up 213% year-to-date, but New Street Research's downgrade last week (Buy to Neutral, citing a trailing price-to-earnings ratio above 480x following the year's rally) continues to cap near-term enthusiasm. TD Cowen raised its target to $475 and Bernstein moved its target to $500, keeping the bull case intact. **$MSFT:** Microsoft Corp. (NASDAQ: MSFT) lost 2.3% to $365.46 and is down 22.7% year-to-date. Goldman Sachs maintained its Buy rating, describing AI tailwinds for Azure as "limitless," but the stock traded in line with the broader software derating. **$SMCI:** Super Micro Computer Inc. (NASDAQ: SMCI) slipped 2.6% to $32.45, giving back a portion of the 15.7% surge posted Monday after GF Securities upgraded the stock to Buy with a $48 target. Tech investor Dan Niles disclosed he trimmed semiconductor exposure Wednesday, citing uncertainty over whether hyperscaler capital outlays will generate adequate near-term returns. **$NOW:** ServiceNow Inc. (NYSE: NOW) fell 2.2% to $93.80, extending a 36.4% year-to-date drawdown despite Q1 2026 subscription revenue growth of 22.1% and a recently expanded multi-year partnership with IBM connecting the ServiceNow AI Platform to IBM's watsonx and Red Hat infrastructure. Benchmark raised its price target to $130 last week, calling ServiceNow one of the "cleanest operating models in SaaS." ## What to watch Thursday Micron Technology reported its fiscal Q3 2026 results after Wednesday's close, the week's most consequential AI infrastructure data point. Memory pricing and high-bandwidth memory demand from hyperscalers will set the tone for NVDA, SMCI, and the chip equipment cohort ($AMAT, $LRCX, $ASML) at Thursday's open. On the macro side, the May PCE deflator is on the calendar, and any upside surprise there could renew rate pressure on high-multiple AI names across the software stack. Oracle's restructuring progress and further analyst commentary on its $70 billion data-center commitment are also worth tracking into the back half of the week. Not investment advice. --- Original analysis from [startuphub.ai](https://www.startuphub.ai), the #1 AI startup directory.