20 hottest tech stocks: semiconductors, Corning, Microsoft, SpaceX

Semiconductors

Semiconductors dominate the list of most bought tech stocks on the ii platform this week, accounting for 35% of the top 20 names. Micron Technology Inc (NASDAQ:MU) takes the top spot from previous winner Space Exploration Technologies Corp Class A (NASDAQ:SPCX), which drops to second place. SanDisk Corp Ordinary Shares (NASDAQ:SNDK), SK hynix Inc ADR (NASDAQ:SKHY), NVIDIA Corp (NASDAQ:NVDA), Advanced Micro Devices Inc (NASDAQ:AMD) and Intel Corp (NASDAQ:INTC) have all pushed higher up the leaderboard this week too.

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ii customers have been snapping up these stocks at a discount amid the recent widespread AI semiconductor sell-off, which followed a meteoric ascent for many of these names this year. The Philadelphia Semiconductor index is still up by over 80% over the last 12 months, even after accounting for its 12% slide this week. Selling was sparked by concerns about the heavy levels of AI infrastructure spending. SK Hynix’s earnings also spooked investors. Although AI demand was extremely strong, second-quarter profit and revenue fell short of lofty expectations.

Corning

Corning Inc (NYSE:GLW) is a new addition to this most bought list. ii customers have been trading the stock around its volatile earnings release. Shares fell by over 11% on Tuesday after its third-quarter outlook missed expectations. The speciality glass manufacturer and key Apple Inc (NASDAQ:AAPL) supplier expects Q3 earnings per share (EPS) of between $0.85 and $0.89 and revenue of between $4.9 billion (£3.6 billion) and $5 billion. Second-quarter results, however, were stronger than expected, with EPS hitting $0.78 and revenue rising 17% year-on-year to $4.74 billion. It has benefited from demand for products linked to generative AI infrastructure. However, it was also hit by weaker global smartphone demand and high memory pricing.

Corning suffered a series of price target cuts from the analyst community this week including from JP Morgan, UBS, Morgan Stanley, Citigroup and Barclays. However, it retains its consensus ‘buy’ recommendation, according to Refinitiv, with an average price target of $198.07, up 60% from the current share price.

Shares are down by more than 50% over the last month but have still doubled over the last year.

Microsoft

Microsoft Corp (NASDAQ:MSFT) has dropped down the leaderboard but remains popular as investors digest this week’s slew of mega-cap tech earnings. Microsoft shares came roaring back after-hours Wednesday when it reported net income up 31% to $35.8 billion, thanks to its stake in Anthropic. Total sales also rose 18% year-on-year to $90 billion. On top, 43% growth for Azure and other cloud services revenue helped soothe investors by proving that Microsoft’s AI infrastructure demand remains very strong. 

CEO Satya Nadella said: “This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their AI transformation.”

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The outlook was also better than expected – Microsoft is forecasting current quarter revenue of $90.4 billion, ahead of Wall Street estimates, and it kept its full-year capital expenditure outlook unchanged after reporting quarterly capex of $41 billion. The stock enjoyed a much-needed bounce after a painful period for Microsoft’s shareholders.  

Analysts have an average ‘buy’ recommendation on the stock, according to Refinitiv. Several analyst teams including at Barclays and Piper Sandler, upped their price targets in response to this week’s earnings report.

20 most-bought tech stocks on the ii platform

Source: interactive investor, 27-29 July 2026.

Week Ahead

SpaceX

SpaceX prepares to deliver second-quarter results on Tuesday 4 August in its first earnings release since becoming a public company. Elon Musk’s space business is expected to report a quarterly loss per share, while total revenue is likely to hit around $6.9 billion. Profits at its Starlink satellite internet division will likely be offset by losses in its rockets operation and heavy AI infrastructure spending.

And on Thursday 6 August one of SpaceX’s important lock-up periods expires, meaning that many pre-IPO investors will be able to start selling their shares. This is expected to increase the supply of SpaceX shares in the market, potentially pressurising the share price. Further lock-up expiries will take place over the next year.

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SpaceX has been a hugely popular tech stock on the ii platform since its flotation in mid-June. After a strong start to public life, shares reached an all-time high on 16 June, its fourth trading day, hitting $225.64 per share, way ahead of its $135 IPO price. But since then, SpaceX has struggled, plunging roughly 50% from the peak and down around 30% over the last month.

According to Refinitiv, there is a consensus ‘buy’ recommendation on SpaceX with an average price target of $240.45, up 111% from the current share price.