From Nasdaq: 2025-06-04 13:42:00

In May, the Nasdaq surged 9.6%, its largest monthly gain since November 2023, with Information Technology and Communication Services leading the way. Big Tech stocks, including the “Magnificent Seven,” reported strong Q1 earnings, showcasing their resilience in the current economic climate.

Chipmakers like NVIDIA and AMD received a boost from new AI infrastructure projects in the Middle East, announced during President Trump’s visit. NVIDIA’s robust earnings exceeded expectations, highlighting the strength of the AI trade, supported by heavy investments from Microsoft, Meta, Alphabet, and Amazon.

Microsoft impressed investors with strong growth in its Azure cloud computing division, fueled by AI services. Meta allayed investor concerns about tariffs affecting its digital advertising business, raising its capital expenditure guidance. Apple and Amazon faced challenges from tariffs, with Apple also lagging in the AI race.

Tesla investors welcomed news of Elon Musk dedicating more time to his companies. To learn more about key ETFs like QQQM, MGK, QTOP, and MAGS, watch the informative video above and sign up for Zacks’ free Fund Newsletter for weekly updates on ETF news and analysis.



Read more at Nasdaq: Why Big Tech Stocks Are Powering Market Gains Again