(Bloomberg) -- Investors on Wall Street and beyond are betting that the great tech rally of 2023 has staying power, even as they appear skeptical that the artificial-intelligence era will live up to the hype. Most Read from BloombergLots of US Homeowners Want to Move. They Just Have Nowhere to GoBurning Ship’s Operator Says Almost 500 EVs Are on BoardBodegas Put on Notice as Visa Fights Back on Card SurchargesItaly Must Exit China Pact While Avoiding Crisis, Minister SaysArab States Sour on Isra
Meanwhile, less than 10% see a bubble in the sector bursting anytime soon. That bullishness has pushed the Nasdaq 100 to its best first half in history, ramping up market valuations and blindsiding pros on the Street.
Shares of Seagate Technology, Western Digital and Micron Technology shares are all trading sharply higher as spending on AI-related hardware accelerates.
Memory and Disk Drive Stocks Rally. Surprise! The Driver Is Generative AI. barrons.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barrons.com Daily Mail and Mail on Sunday newspapers.
Microsoft shares lost some of the recent momentum generated by its push for artificial intelligence (AI) as the company's fourth quarter earnings report highlighted a slowdown in its Azure cloud and Windows PC businesses.