Santa Clara neighbors Palo Alto(PANW) and ServiceNow(NOW) currently trade near their long term averages. Compared to the SP500, these California-based tech firms have gained ~60%. Considering the AI trend is repeated and reinforced in the market narrative, PANW and NOW do stand a chance to pick up their momentum one more time. ServiceNow(NOW) closed at 961.78, whereas Palo Alto(PANW) closed at 190.72 on 7/14/25.