May. 22 at 9:50 PM
YTD performance leaders in the Nasdaq 100 -2
Momentum has been heavily concentrated in semis + cybersecurity
classic AI cycle leadership.
$MRVL +124% AI networking / infra acceleration
$AMD +110% compute demand re-rating
$LRCX +77% semiconductor equipment cycle strength
$AMAT +66% fab capex tailwinds continue
$FTNT +63% cybersecurity demand + enterprise spend resilience
This is a clear signal: the market isn’t rotating out of tech ,It’s narrowing into high-beta AI & infrastructure leaders.
Trend stays intact as long as liquidity keeps chasing semis + AI capex names.