The Nasdaq 100 Index ETF (QQQ) has surged by 30% since late March, currently on track for its ninth weekly gain in the past ten weeks. This remarkable growth is primarily fueled by a boom in artificial intelligence (AI), with big tech companies expected to spend approximately $750 million this year on AI data centers and infrastructure, and forecasts suggesting spending could exceed $1 trillion annually by 2027 and 2028.
High-performance memory companies, particularly Micron (MU) and SanDisk (SNDK), are among the biggest beneficiaries of this spending boom. Currently, there is a strong global demand for memory, projected to result in severe supply shortages for at least two years. As a consequence, analysts expect significant earnings per share growth for both companies, with Micron’s stock rising 851% and SanDisk soaring 4,185% in the past year.
5 Stocks Our Experts Predict Could Double In the Next Year
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