Chip stocks more than double in first half of 2026
The first six months of 2026 have been turbulent, with the Iran war and geopolitics affecting markets. Despite this, key parts of the AI story have seen a boom, with chip stocks more than doubling.
The second quarter was the best on record for the U.S. SOX chip index, driven by increased spending by hyperscalers. However, June was the worst month so far this year for major spenders.
Oil prices have returned to pre-Iran war levels, with peace talks planned in Doha. The U.S. economy may be running hot, with Federal Reserve rate-hike bets still in the mix for the second half of the year.