Goldman Sachs International
May 19, 2026
TMT Special Sales: Momentum Unwind and Tech Updates
Market ReportEquitiesCommoditiesMacro Economic IndicatorsInformation TechnologyCommunication Services
The report highlights a sharp 14% unwind in TMT momentum stocks, technical rebounds in software, and strategic consolidation in the delivery sector as Uber hits a 25% stake in Delivery Hero.
Key Takeaways
- 1.Momentum in TMT sectors has seen a sharp 14% drawdown over the last three sessions.
- 2.Uber has significantly increased its stake in Delivery Hero to approximately 25%, following strategic filings and option acquisitions.
- 3.Memory market concerns are emerging for late 2027 due to expected surges in Chinese capacity and potential ROI decreases for Big Tech.
Table of Contents
- TODAY'S WRAP
- TECH
- TELCOS
- MEDIA & INTERNET
- MACRO AND TRADING
- 2026 EMEA Conferences
- 2026 Conferences
- TMT RESEARCH TEAMS
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Authors
Sean Johnstone
Securities
NOWDelivery HeroSPOTSamsung Electronics700 HK2330
Themes
Momentum UnwindAI-Driven Memory Demand vs. Future CorrectionStrategic Consolidation in Online Delivery
Regions
North AmericaAsia PacificEuropeUnited StatesSouth KoreaGermany