Tech stocks have their strongest month since the start of the pandemic

• Alphabet had its best month since October 2004, climbing 34%, while chip stocks saw exceptional gains with Intel and Marvell surging 53% and 74% respectively
• Intel stock doubled in April, marking the best month in the company's 55-year history, driven by continued data center demand
• The Nasdaq was down roughly 7% at the end of March but recovered to a 7% year-to-date gain, with most gains concentrated in April

Summary: Tech Stocks Record Strongest Month Since April 2020

Key Performance Metrics

The Nasdaq Composite surged 15.29% in April 2026, marking its best monthly performance since April 2020 during the pandemic's onset. Year-to-date, the index gained 7%, with most gains concentrated in April after declining approximately 7% through March.

Major Company Highlights

Alphabet jumped 34% for the month following strong earnings—its best monthly performance since going public in October 2004. Meta declined 9% Thursday after announcing increased capital expenditure but still posted nearly 7% monthly gains. Broadcom gained 35%, while Amazon achieved its best single-day performance since 2019.

Semiconductor Sector Surge

Chip stocks experienced exceptional growth driven by continued data center demand. AMD and Marvell Technology surged 53% and 74% respectively. Most notably, Intel stock doubled in April, representing the company's strongest month in its 55-year history.

Market Context

The rally represents a significant reversal for the tech sector, which struggled early in 2026 amid concerns about artificial intelligence-driven disruption, particularly affecting software stocks. Strong earnings reports from major tech companies—including Apple, Microsoft, and Amazon—beat first-quarter expectations and catalyzed the sector's recovery.

Outlook

April's performance signals a potential turning point for technology stocks after a challenging start to the year, with investors regaining confidence despite ongoing AI disruption concerns. The semiconductor subsector appears particularly well-positioned given robust data center demand.