T-Rex 2X Long SNOW Daily Target ETF

After a turbulent stretch earlier this year, US tech stocks have roared back in convincing fashion.

The market has staged a sharp rally of about 13% since late March — its sharpest rise since April 2020 — fueled by improving geopolitical sentiment and rising corporate confidence.

The most recent sessions underscored just how strong the momentum is. US equities closed at record highs on May 29, with the Nasdaq settling at 26,972, the S&P 500 climbing to 7,580, and the Dow crossing 51,000 — all three indexes hitting fresh all-time intraday highs.

The catalysts? A mix of strong earnings and mega-deal energy. Snowflake's surge on robust earnings and a multibillion-dollar Amazon partnership helped tech lead the broader market to fresh gains. Dell Technologies saw its best single day on record — shares surging nearly 33% — after beating expectations on both revenue and earnings and raising its full-year guidance.

Underneath it all, the AI buildout remains the structural driver. AI investment is expected to contribute roughly 40% of S&P 500 earnings growth this year, with the largest cloud computing companies planning to spend an estimated $670 billion in 2026.

Goldman Sachs sees the momentum continuing. The S&P 500 is forecast to climb 6% to a year-end target of 7,600, built on expectations of 12% earnings-per-share growth in 2026.

For long-term investors, the message is clear: stay diversified, stay the course, and don't let the short-term noise distract from the bigger picture