Big Tech's first half was a story of hardware versus software
Key takeaways
- Chip stocks, outside of Nvidia (NVDA), had a blowout six months on euphoria around memory and storage sales and the need for traditional processors to power the AI build-out.
- Micron (MU) was the poster child for explosive growth in the first two quarters of the year, with shares rising an astonishing 308%.
- Meta (META) and Microsoft (MSFT), meanwhile, were on the flip side, with Meta stock declining 15% and Microsoft fell 23% during the first half.
Big Tech's first half was a story of hardware versus software Daniel Howley · Technology Editor Wed, July 1, 2026 at 7:03 PM GMT+7 2 min read AMD MSFT NVDA MU META The second quarter has come to a close, and it was a series of major ups and downs for the biggest names in tech. Chip stocks, outside of Nvidia (NVDA), had a blowout six months on euphoria around memory and storage sales and the need for traditional processors to power the AI build-out.
Micron (MU) was the poster child for explosive growth in the first two quarters of the year, with shares rising an astonishing 308%. Intel (INTC), which is continuing its turnaround effort, rose a similarly impressive 280%, while AMD (AMD) rocketed 173% higher in the period.
Meta (META) and Microsoft (MSFT), meanwhile, were on the flip side, with Meta stock declining 15% and Microsoft fell 23% during the first half.