Shopify Inc (SHOP) — the peer cohort

Long reads

• The Agentic Winners 25Dossier · $49 · 31 Mar 2026Shopify is the commerce operating system for the agent economy — its integration with Google's UCP positions it as the platform through which AI shopping agents will browse, compare, and purchase on behalf of consumers.
• The SaaS Litmus Test: Is The March Bottom Real?Weekly Signal · 19 Apr 2026

Dailies

• AI Builders — Chips Bounce 4%, AMD Jumps 10% and IREN 20% After a Strong Jobs ReportMidday 10 · 6 Nov 2026Shopify at 149.01 is above its paid line of 146.85.
• AI Trade — Chips Bounce 3% Before AMD; Apple, Palantir and Shopify Slip After Their ReportsMidday 10 · 3 Nov 2026Apple falls 2.1% on a holiday-quarter margin guide that falls short, Palantir pares a 9.2% pre-market fall to 2.5% on slower contract growth, and Shopify and Dynatrace drop 5.4% and 11.0% after trading 13% and 17% lower.
• Chips — memory and optics sold again: Lumentum −7.7%, SanDisk −6.5%, chip fund −2.6%; Meta +3.8%Midday 10 · 12 Oct 2026Software apps rise, software funds don't: Shopify +3.6%, Workday +2.8%, Salesforce +2.5%, Microsoft +1.1% — IGV −0.7%
• Brent closes above $100 for the first time since July and the 10-year hits 4.86%: Wall Street falls a third day while Cloudflare +10%, Datadog +7% and Meta +7% catch the money the chip leaders gave backMorning 10 · 10 Sept 2026The software ETF itself still fell 0.8%: Shopify −5.5%, ServiceNow −2.3%, Salesforce −2.0%, CoreWeave −4.9%, IonQ −5.8%.
• Chips lead the market down as oil tops $105 and the 10-year hits 4.92%: Micron −4%, Intel −4%, Nvidia −2.5% — while software posts its first up day in six and Apple gains 3%Midday 10 · 10 Sept 2026The iShares software ETF is up 0.5% at $102.38, its first gain in six sessions, with ServiceNow +2.1%, Salesforce +0.6%, Datadog +0.5% and Shopify +0.3% after two heavy days; Cloudflare −0.2% at $313 and Meta −0.2% at $652 are holding…
• Oil knocks on $100 and Wall Street sells everything but the AI pipe: Intel +9%, Lumentum +11%, Dow −1.2% — Seoul buys the dip and the Kospi is back above 7,000Morning 10 · 9 Sept 2026Intel +9.1% on another CPU price rise, AMD +5.9%, Broadcom +3.0%, and the optical names went vertical — Lumentum +11.0%, Corning +7.6% on an 80-million-mile fibre contract with Verizon, Coherent +7.1% — while Shopify, UiPath and Atlassian…
• The trade flips at midday: chips fade, software bounces — Meta +6%, Cloudflare +9%, Datadog +6% while oil holds $101 and the 10-year hits 4.85%Midday 10 · 9 Sept 2026The rest of the market is weaker, not stronger: the Russell 2000 is down 1.2%, Booking, Shopify, SpaceX, the cruise lines and Canada are being sold on oil at $101 and a trade fight, and the 10-year yield is at 4.85%, its highest since 2023.
• Chips up again, software down again — Friday's split is turning into a trendMidday 10 · 8 Sept 2026Second session of the same trade, and it is widening: the optical and hardware names are up 7% to 12%, Intel 9%, AMD through $500, while Shopify falls 7%, Intuit, Workday and Booking 6%, and ServiceNow, Salesforce and Adobe 3% to 4%.