Nasdaq 100 Index top gainers and losers in 2026 revealed

• Memory chip makers dominate top gainers: Western Digital rose 67%, Seagate 53%, driven by elevated DRAM and NAND chip demand, though recent price declines suggest the surge may be cooling
• Software sector leads laggards with Atlassian down 57%, AppLovin down 43%, and Workday, Intuit, and Zscaler each falling over 36% amid AI disruption concerns and valuation resets
• Mixed chip sector performance: Intel (+33%) and Arm Holdings (+20%) gain on strategic moves, while former leaders NVIDIA and AMD remain in correction territory

Nasdaq 100 Index Performance Summary - 2026

Market Overview

The Nasdaq 100 Index has declined 8% from its year-to-date high as of April 6, 2026, pressured by concerns over a US-Iran war and private credit industry issues.

Top Gainers

Memory Chip Companies Lead:

• Western Digital: +67%
• Seagate Technology: +53%
• Strong performance driven by ongoing DRAM and NAND chip supply shortages, with manufacturers sold out for the year
• However, recent DRAM price declines suggest potential momentum slowdown

Other Semiconductor Winners:

• Intel: +33%
• Arm Holdings, Applied Materials, Marvell Technology, Lam Research: +20%+
• Marvell boosted by NVIDIA's $2 billion stake
• Arm Holdings expanding into chip manufacturing beyond traditional licensing model

Diverse Sector Gainers:

• Baker Hughes: +32% (benefiting from Iran war conditions)
• DiamondBack Energy, Ross Stores, Costco, Linde also posted strong gains

Top Losers

Software Sector Under Pressure:

• Atlassian: -57% (down 68% over five years)
• AppLovin: -43% (profit-taking after 451% five-year gain)
• Workday, Intuit, Zscaler: -36%+
• Adobe, Shopify, Microsoft also declining

Other Notable Decliners:

• Thomson Reuters: -30%
• Axon Enterprise, Qualcomm, Cognizant Technology, PayPal, Take-Two Interactive

Market Implications

The selloff stems from AI disruption fears and valuation resets following the tech boom. However, analysts suggest the decline may create buying opportunities as companies integrate AI into operations. The divergence between memory chip strength and software weakness reflects shifting market dynamics around AI technology adoption.