Tech stocks close out best month since start of Covid pandemic in 2020

• Alphabet climbed 34% in April, its best month since going public in 2004, while chip stocks Marvell and Broadcom surged 53% and 74% respectively
• Intel stock doubled during the month, representing the best performance in the company's 55-year history, driven by rising data center demand
• The April rally reversed earlier losses, with the Nasdaq now up 7% year-to-date after being down roughly 7% at the end of March

Summary

Key Performance Metrics:

The Nasdaq Composite surged 15.29% in April 2026, marking its strongest monthly performance since April 2020 at the pandemic's onset. Year-to-date, the index is up 7%, with nearly all gains concentrated in April following a roughly 7% decline through March.

Major Companies and Performances:

• Alphabet: Jumped 34% for the month after beating earnings expectations—its best monthly performance since October 2004
• Meta: Rose 9% despite Thursday weakness from increased capex announcements, still gaining nearly 7% monthly
• Broadcom: Surged 35%
• Apple and Amazon: Both exceeded first-quarter earnings expectations

Chip Sector Standouts:

The semiconductor industry experienced exceptional gains driven by data center demand:

• Micron and ASML: Climbed 53% and 74% respectively
• Intel: Stock doubled in April, representing the best month in the company's 55-year history

Market Context:

The rally represents a significant reversal for the tech sector, which struggled early in 2026 amid concerns over artificial intelligence-driven disruption, particularly affecting software stocks. Strong earnings across major technology companies fueled the April recovery, with big tech reporting solid first-quarter results that exceeded analyst expectations.

Outlook:

The robust performance signals renewed investor confidence in the tech sector despite ongoing AI disruption concerns, with data center demand particularly supporting chip manufacturers.