What Happened?

A number of stocks jumped in the afternoon session after the Nasdaq rebounded, up 1.8%, as Trump's Iran peace deal announcement released the rate pressure that weighed on the sector. 

Oil prices fell more than 3% following the cancellation of planned strikes on Iran, easing the inflation pressure that had been driving rate hike expectations. The 10-year Treasury yield fell to 4.47% from 4.55%, a move that expands the forward earnings multiples tech stocks trade on. Every basis point of yield reduction matters more to a company priced on earnings years into the future than to almost any other sector.

The combination of lower oil, lower yields, and geopolitical risk being removed from global supply chains was precisely the backdrop tech needed to recover after three consecutive sessions of selling.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Network Security company Palo Alto Networks (NASDAQ: PANW) jumped 5.2%. Is now the time to buy Palo Alto Networks? Access our full analysis report here, it’s free.
• Data Analytics company Strategy (NASDAQ: MSTR) jumped 3.3%. Is now the time to buy Strategy? Access our full analysis report here, it’s free.
• Data Infrastructure company C3.ai (NYSE: AI) jumped 3.4%. Is now the time to buy C3.ai? Access our full analysis report here, it’s free.

Zooming In On Palo Alto Networks (PANW)

Palo Alto Networks’s shares are quite volatile and have had 16 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 13 days ago when the stock gained 8.3% on the news that a two-day wave of AI conviction, sparked by Snowflake's best single-session day on record and extended by Dell's blowout earnings continued to weaken the narrative that weighed on the software sector. 

Snowflake's Q1 results sent the stock up 36% on May 28, its strongest single-day gain since its 2020 IPO, showing that AI is accelerating demand for enterprise data platforms rather than cannibalizing them. Then Dell's Q1 report, published after the bell on May 28, confirmed the physical infrastructure layer is expanding at a scale most analysts had not modelled: $43.8 billion in revenue, up 88% year-over-year, AI server revenue of $16.1 billion up 757%, and a record AI backlog of $51.3 billion. 

The combined read-through was hard to ignore: enterprises are deploying AI at scale, and they need both the software layer and the hardware stack to do it. A supportive macro backdrop provided additional lift. The 10-year Treasury yield fell to 4.45% on reports of a US-Iran truce extension, reducing the discount rate on long-duration growth stocks.

Palo Alto Networks is up 54.8% since the beginning of the year, and at $277.73 per share, it is trading close to its 52-week high of $300.48 from May 2026. Investors who bought $1,000 worth of Palo Alto Networks’s shares 5 years ago would now be looking at an investment worth $4,555.

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