The Technology sector is on pace for its strongest first half since 2023, rallying roughly 28% year to date as investors pile into AI infrastructure builders. Since the market bottomed on March 30 amid US-Iran tensions, tech stocks have soared 37%, putting the S&P 500 on track for its best quarter in six years. However, the so-called Magnificent Seven megacaps are lagging, with Microsoft down 22% since the start of the year and Meta down 14% over the past six months, while Alphabet, Apple, and Nvidia post only modest gains. In contrast, semiconductor and component makers like Micron, Western Digital, Seagate, and Intel have surged more than 200% year to date, driving the iShares Semiconductor ETF up 100%. Wall Street remains bullish, with analysts predicting a 21% gain in the S&P 500 over the next 12 months and JPMorgan raising its year-end target to 7,800.
Apple Inc.
Alphabet Inc Class C
Microsoft Corporation
NVIDIA Corporation
Intel Corporation
Micron Technology Inc
Seagate Technology PLC
Western Digital Corporation
Meta Platforms Inc.