Tech stocks had a nice oversold bounce on Monday. Earnings this week will determine if it's for real

Traders work on the floor of the New York Stock Exchange during morning trading on Oct. 14, 2026 in New York City. Michael M. Santiago | Getty ImagesThis week's major earnings hold the key to whether this technology comeback has legs, investors said.The S&P 500 and Nasdaq Composite rallied Monday, largely due to a rebound in artificial intelligence companies. Chip stocks surged, with the iShares Semiconductor ETF (SOXX) on pace to snap a nine-day slump. The Magnificent Seven outperformed, as did memory chip makers. The iShares MSCI South Korea ETF (EWY), dominated by SK Hynix and Samsung Electronics, surged 4% after also suffering steep declines over the past week. That comes after the S&P 500 fell nearly 2% last week, its worst weekly decline since late June. The Nasdaq Composite dropped 4.5% over the same five-day span. Stock Chart IconStock chart iconNasdaq Composite, YTDMonday looked like a bounce from oversold conditions, but a bigger move will depend on this week's big tech earnings — which include results from major names such as Meta Platforms and Tesla — to clear some of the recent worries about the sustainability of the AI trade. SpaceX reports after the bell Tues...