This week, the battered stock has been given a strange new job. They stopped acting like a second-mover and started leading the screen. Oracle (NYSE: ORCL), Microsoft (NASDAQ: MSFT), and AMD (NASDAQ: AMD) posted big weekly gains on Friday, resetting the charts and putting them on track to forcing traders to stop laughing at the stocks they wrote off.
Oracle rose 27% for the week, its highest price since June 1999. AMD is up 14% for the week and hit a new all-time high on Thursday, continuing a 13-session winning streak that has pushed the stock more than 42%.
Microsoft also rose 14%, making it its best week since April 2015. The software giant lost about a quarter of its stock value in the March quarter, its worst quarter since 2008.
Tesla (NASDAQ: TSLA) is up about 15% this week after Elon Musk said Wednesday that the company has reached a key milestone with its AI5 chip.
Broadcom (NASDAQ: AVGO), Micron (NASDAQ: MU), and ON Semiconductor are each up about 30% so far in April. Marvel is up 41% this month. The iShares Expanded Tech Software ETF (IGV) is up about 14% week to date, on track for its best week since October 2001, which was a record week.
The SPDR Infotech Fund, known as XLK, hit its highest price on Friday for the first time since October 2025, ending at a record level after 13 consecutive days of gains. The fund had its best week since April 2025.
Oracle locks down power while AMD and Microsoft raise power significantly
Oracle on Monday expanded its artificial intelligence data center power contract with Bloom Energy, securing 1.2 gigawatts of capacity from Bloom.
Oracle had also been issued a warrant to buy $400 million worth of Bloom stock the week before. This adds another layer to the story and gives traders even more reason to follow this move.
AMD’s rise looked even more dramatic on the charts. The stock is up 14% this week, but the weekly numbers only tell part of the story. The stock price rose more than 42% during a 13-day rally. This is AMD’s longest winning streak in over 20 years.
Meanwhile, Microsoft just finished its worst quarter since 2008 in March, when it lost nearly a quarter of its market value. We are currently on track for our best week since April 2015.
Many stocks have been sold off since the beginning of this year on concerns that AI will overwhelm old software models or force higher spending.
But this week, hopes for a permanent peace deal between the United States and Iran spurred an industry-wide backlash. Even after this rally, IGV is still down about 19% year-to-date.
Tesla joins rapid growth as chip names and technology funding pile up
However, Tesla’s setup is more complicated. Musk said Wednesday that Tesla has reached a key milestone with its AI5 chip, and the stock is up about 15% this week.
Wall Street analysts expect sales to fall 9% from a year ago to $22.08 billion. We also expect adjusted EPS to be $0.35. Adjusted EBITDA was $3,217 million, a decrease of 14.4% year over year.
Tesla announced earlier this month that it delivered 358,023 vehicles worldwide in the first quarter. Although it fell short of the 364,645 expected by analysts, it was still an increase of 6.3% from the previous year. There is a catch in this year-over-year figure.
Last year’s total was unusually low due to the switch to the new Model Y, meaning the base of comparison was already low. Tesla is also expected to update investors on its full self-driving efforts and robotaxi plans.
Meanwhile, Jim Cramer discussed the recent market rotation on Mad Money and kept the focus on Broadcom, saying: “You might think it’s fanciful to discuss an unknown company like Broadcom, but did you realize that it’s actually bigger than the meta by market cap? After the stock went up 4.2% today, that’s incredible, right? You never know with these things, so I’m going to be convinced of this. But I have to tell you, this meta is back, okay? But I think you need to keep an eye on Broadcom.”
