Nasdaq 100 Flirts with Records, Oil Sinks for Fifth Day: Stock Market Today
Nasdaq 100 printed an intraday record on AI enthusiasm while financials slid nearly 2% and crude fell for a fifth straight session.
Economy · News reference
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Nasdaq 100 printed an intraday record on AI enthusiasm while financials slid nearly 2% and crude fell for a fifth straight session.
After four and a half months of consolidation, technology stocks are breaking out to the upside, led by semiconductor and AI-related companies. Despite concerns about AI safety and higher interest rates, the underlying economics of AI infrastructure investment remain strong, with demand for computing power continuing to expand beyond GPUs to CPUs, memory, and networking equipment. Bitcoin's rally signals returning risk appetite among investors.
Three AI infrastructure stocks—Amkor Technology, Ciena Corp, and TTM Technologies—are recommended as strong buys despite rallying 35-85% year-to-date, as they trade at 42-43% discounts to their 52-week highs. All three benefit from accelerating AI and data center demand with significant upside potential ranging from 34% to 96%.
Amkor Technology reported record Q2 2026 revenues of $1.90 billion, up 26% year-over-year, driven by strong AI and data-center demand. The company is advancing advanced packaging technologies including 2.5D, HDFO, and co-packaged optics through partnerships with TSMC and NVIDIA. Amkor guided Q3 sales of $1.95-$2.05 billion with gross margins of 18.5%-19.5%, while announcing a $12 billion Phase 2 expansion of its Arizona campus. Competitors TSMC and Intel are also investing heavily in advanced packaging capabilities to capture AI/HPC growth opportunities.