Tech stocks on pace for best 6 months since 2023 — even with much of the 'Magnif

The Technology (XLK) sector is on pace to notch its strongest first half of the year since 2023, when the AI boom first drove equities significantly higher. The sector has rallied roughly 28% year to date as investors piled into the companies building the infrastructure behind the AI boom.

Much of those gains have come since the market bottomed on March 30 as the US-Iran conflict wreaked havoc on stocks. Tech stocks have soared 37% since then, with the Energy (XLE) and Industrials (XLI) sectors following. The V-shaped recovery over the past two months has put the broad-based S&P 500 (^GSPC) index on track for its best quarter in six years.

But while the "Magnificent Seven" megacap stocks were the drivers of the tech sector three years ago, their performance in 2026 has been anything but magnificent. If anything, Big Tech players that plan to spend more than $650 billion on AI this year have been punished, as the returns on those investments remain hazy.

"Investors seem to be experiencing AI Fatigue," veteran strategist Ed Yardeni wrote in a recent note. "They are questioning whether the hyperscalers' massive spending on AI infrastructure will ever pay off."

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Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/article/tech-stocks-on-pace-for-best-6-months-since-2023--even-with-much-of-the-magnificent-7-in-the-penalty-box-chart-of-the-day-100000120.html)