I don't know about trends among young developers, but I can tell you that the majority of the fintech world that isn't Microsoft centered (or ancient COBOL hieroglyphics) runs on PHP these days.

I ended up finding myself in finance because I had so much PHP experience from bespoke ecommerce and never left because it's everywhere.

Other language ecosystems have things I like better personally, but if you master PHP, you will never have a problem finding work.