Chip Index Hits 94% H1 Gain as Tech Fuels June Market Close

U.S. equity markets closed June on a tech-led rally June 30, with the Nasdaq rising 1.1% and the SOXX semiconductor ETF surging 3.6%. The Philadelphia chip index has advanced 94% year-to-date—its second-best first-half performance since 1994 and just shy of the 2000 dotcom peak. The move follows a broad Nasdaq rebound of 2.1% on June 29 amid easing geopolitical tensions and continued strength in AI infrastructure names such as Micron, Intel, and Marvell. Broader tech is on pace for its strongest first half since 2023 despite lagging Magnificent 7 components, underscoring a rotation toward chip and memory stocks.