The start of 2026 trading features a significant market rotation. Investors are shifting capital away from software stocks and into hardware and semiconductor companies.
ASML has emerged as a key beneficiary of this trend, with its stock surging at the beginning of the year. This movement reflects a broader investor focus on tangible AI infrastructure over speculative software plays.
The rally in chipmaker stocks is fueled by growing confidence in AI-related hardware demand. Analysts cite the build-out of AI infrastructure as the primary driver.
This shift in investment strategy highlights a market recalibration. The focus favors companies boasting foundational technology and clear returns on capital within the AI sector.