Seagate Technology Holdings Plc, Western Digital Corp., and Micron Technology Inc. are leading the stock market with significant gains, showcasing the unrelenting demand for AI computing gear. Major tech companies are investing billions yearly in infrastructure to support AI technology, boosting chipmakers like Nvidia and Taiwan Semiconductor Manufacturing Co.

Despite being in a bubble, the AI craze has boosted interest in seemingly mundane companies like electricity producer Vistra Corp. and chipmaker Broadcom Inc. Even legacy companies like Oracle Corp. have seen surges in value due to the demand for cloud-computing services. Seagate, Western Digital, and Micron remain profitable but are among the cheapest stocks in the S&P 500.

Seagate’s revenue is expected to rise 16% in fiscal 2026, while Western Digital and Micron also have strong sales outlooks. However, the rapid rise in stock prices has left analysts struggling to keep up with price target adjustments. Some Wall Street analysts warn that high valuations may signal it’s time for investors to take profits in these companies.

Read more at Yahoo Finance: The hottest thing in the stock market is suddenly boring tech