Bubbles and Boring Bets: What’s Coming for Tech Stocks in 2026

While tech giants like Alphabet Inc. and Nvidia Corp. delivered strong gains, unsung corners of the industry, like memory chips and hard disk drives, proved to be far better places for investors. With the bull market in US stocks stretching into a fourth year, there are more concerns than ever about the sustainability of heavy spending on AI computing and whether the returns will justify the investments.