20 hottest tech stocks: week ended 2 October 2026

Fei-Fei Li, World Labs’ CEO and co-founder, known as the “Godmother of AI”, pictured in 2017. Photo: Paul Chinn/The San Francisco Chronicle via Getty Images.

Micron earnings

Micron Technology Inc (NASDAQ:MU) is the most bought tech stock on the ii platform so far this week, up three places from last week thanks to a frenzy of trading around its quarterly earnings release on Wednesday.

Fourth-quarter revenue hit $54.23 billion (£41 billion), beating analyst expectations for $51.07 billion, while adjusted profit reached $33.42 per share, also topping forecasts. The company issued rosy guidance, anticipating first-quarter revenue of $61.5 billion, plus or minus $1.5 billion, ahead of consensus estimates.

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Micron said its customers’ long-term supply commitment had increased to $32 billion, up from $22 billion in June. Micron’s president and chief operating officer Manish Bhatiasaid: “Memory is the chief constraint in AI” and “data centre has become the largest market for memory and storage”.

Demand for high bandwidth memory has soared in the AI data centre rollout, propelling Micron’s shares sharply higher this year. According to Refinitiv, shares are up by more than 530% over the last 12 months and by 270% year-to-date. There is a consensus buy recommendation on the stock with an average price target of $1469.92, representing around 39% upside from the current share price.

Nvidia share buyback

NVIDIA Corp (NASDAQ:NVDA) is the second most-bought tech stock on the ii platform so far this week. On Monday, it announced a $150 billion increase to its share repurchase programme, raising the total to $235 billion, which will be executed through to its fiscal year 2028.

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This is the largest share repurchase increase in history, exceeding Apple Inc (NASDAQ:AAPL)’s $110 billion buyback in 2024. Nvidia’s CEO Jensen Huang said: “Nvidia’s growth is being driven by a once-in-a-generation platform shift to AI and accelerated computing.”

Nvidia shares rallied on the announcement that the company at the heart of the AI rollout is returning cash to shareholders. Some analysts argue that Nvidia is buying back shares to support the share price at a time when growth and its valuation could soften slightly. 

Nvidia has missed out on much of the chipmaker rally this year, with shares trailing behind companies like Micron and Advanced Micro Devices Inc (NASDAQ:AMD). Nonetheless, the stock is still up by around 22% year-to-date. And it remains a consensus buy among analysts. 

20 most-bought tech stocks on the ii platform

Source: interactive investor, 28-30 September 2026.

AMD buys World Labs

AMD is the eighth most-bought tech stock on the ii platform so far this week, up one place from last week. On Monday, it announced plans to acquire AI start-up World Labs in an $8.2 billion all-stock deal that is expected to close by the end of 2026, subject to regulatory approvals.

Fei-Fei Li, World Labs’ CEO and co-founder, known as the “Godmother of AI”, will become AMD’s executive vice-president and chief scientist once the deal is completed.

In February, World Labs announced $1 billion in new funding from investors including AMD and Nvidia.

World Labs develops spatial intelligence models, with the goal of trying to understand and predict how physical 3D environments will behave. By focusing on space, geometry and physics, World Labs helps AI agents and robots to navigate and interact with the real world safely. This could have valuable applications such as in autonomous vehicles, robotics and manufacturing. Many AI researchers believe large language models have limitations in terms of understanding the physical world, a gap that World Labs seeks to address.

Week Ahead

TSMC

The world’s largest chipmaker Taiwan Semiconductor Manufacturing Co Ltd ADR (NYSE:TSM) will release its monthly sales for September on Thursday 8 October. Last month, revenue soared 53% year-on-year and 10% month-on-month. August was a record revenue month at NT$514.8 billion (£12.2 billion), surpassing the NT$500 billion milestone for the first time.

Another reading above NT$500 billion for September would provide a reassuring signal to the market that AI demand remains extremely strong. September’s reading will also make it clear whether TSMC will meet or surpass its Q3 revenue guidance of $44.6-45.8 billion.  

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The Taiwanese semiconductor firm has a market cap of around $2.36 trillion, making it the sixth-most valuable company in the world thanks to strong demand for AI chips, supply constraints, and rising prices.

Shares have rallied around 60% year-to-date and 90% year-on-year. Investors are still optimistic towards the stock with a consensus buy recommendation, according to Refinitiv and an average price target of NT$3113.97, up 24% from the current share price.