Big Tech stocks are poised for a record-setting week, with Oracle, Advanced Micro Devices (AMD), and Microsoft leading the charge. Oracle has surged 32% this week, marking its best performance since October 1999, following a significant AI data center deal with Bloom Energy. AMD is also making headlines, rising 13% to reach an all-time high, supported by a remarkable 12-day winning streak. Meanwhile, Microsoft has rebounded over 14%, recovering from its worst quarter since 2008.
This rally reflects broader trends in the tech sector, with the iShares Expanded Tech-Software ETF (IGV) up about 15% week-to-date, potentially achieving its best week since October 2001. The recent gains come amid renewed optimism following key announcements from Intel and a potential easing of geopolitical tensions, which have buoyed investor sentiment.
For market professionals, the significant uptick in these major players indicates a potential shift in sentiment within the tech sector, suggesting opportunities for strategic positioning as the market reacts to both earnings and macroeconomic developments.
Source: cnbc.com