Sizzling Returns: 5 Tech Stocks That Just Hit New All-Time Highs

In this article, we will list the 5 tech stocks that just hit new all-time highs. Please visit 7 Tech Stocks That Just Hit New All-Time Highs if you’d like to see an extended list and how we came up with the list of tech stocks that just hit new all-time highs.

5. Seagate Technology Holdings plc (NASDAQ:STX)

After hitting its all-time high of $727.20 on May 1, 2026, Seagate Technology Holdings plc (NASDAQ:STX) ranks among the 7 tech stocks that just hit new all-time highs. The stock has gained 184.19% so far in 2026 as of May 8, 2026.

Source: Seagate

That surge came as the company underwent a gradual multi-quarter earnings inflection.

At the start of this year, Seagate Technology Holdings plc (NASDAQ:STX) reported Q2 FY2026 revenue of $2.83 billion, up 22% year-over-year. The company’s gross margin widened to 42.2%, while its EPS of $3.11 came in above analyst estimates of $2.78, reflecting improved operational efficiency and stronger demand.

At the same time, Seagate Technology Holdings plc (NASDAQ:STX) had fully allocated nearline capacity through calendar 2026, taking HAMR-based Mozaic 3 drives to all major U.S. CSPs, with Mozaic 4 qualifications also on schedule.

That backdrop preceded the Q3 FY 2026 breakout, reported on April 28, 2026.

With revenue growing 10% sequentially and 44% year-over-year to $3.1 billion, gross margin hit a record 47%, and EPS rose to $4.10, much above the $3.51 consensus. Meanwhile, free cash flow of $953 million, the highest in over a decade, helped management guide for Q4 revenue of $3.45 billion and EPS of $5.00. The expanded profitability and growth outlook indicate that the momentum is far from over.

Notably, analyst support validated the company’s recent progress, with Goldman Sachs and TD Cowen both issuing strong responses on April 29, 2026.

Goldman raised its price target on Seagate Technology Holdings plc (NASDAQ:STX) from $385 to $700, citing constrained HDD supply, hyperscaler demand, and management’s methodical capacity development. That backdrop may support extended peak earnings power, according to the firm.

TD Cowen went one step further and increased the stock’s price target from $500 to $850, citing the industry’s ongoing transition. The firm’s bullishness further stemmed from the expansion of the cloud mix from 25% in 2019 to about 65% in 2026.

Therefore, the analyst calls point toward the key shift driving the case for Seagate Technology Holdings plc (NASDAQ:STX)’s structural re-rating.

Seagate Technology Holdings plc (NASDAQ:STX) is a data storage hardware and infrastructure company specializing in mass-capacity solutions. It designs and manufactures high-performance hard drives, solid-state drives, and edge-to-cloud platforms. By providing essential storage for everything from enterprise data centers to personal gaming rigs, it enables the secure management of massive digital footprints.

4. Intel Corporation (NASDAQ:INTC)

After hitting its all-time high of $100.45 on May 1, 2026, Intel Corporation (NASDAQ:INTC) ranks among the 7 tech stocks that have just hit new all-time highs. The stock has gained 238.54% so far in 2026 as of May 8, 2026.

This rally is anchored in something the market had long stopped expecting: a genuine fundamental comeback.

Following its Q1 earnings release, Intel Corporation (NASDAQ:INTC) surged more than 24% to $83 on April 24, 2026, surpassing its dot-com era peak from 2000 and pushing its market cap above $416 billion, according to a Reuters report.

Intel Corporation (NASDAQ:INTC) reported revenue of $13.6 billion, reflecting a 7% year-over-year increase, with non-GAAP EPS of $0.29 and $1.1 billion in cash from operations. This marked a sixth consecutive quarter of above-guidance revenue.

Rising demand for Xeon server CPUs in AI data centers pushed Intel Corporation (NASDAQ:INTC) to sell chips it had originally written off. Furthermore, Xeon 6 was selected as the host CPU for NVIDIA’s DGX Rubin NVL8 systems, while a multiyear collaboration with Google advanced Xeon deployment across workload-optimized cloud instances.

That momentum continued to build as management guided to Q2 2026 revenue of $13.8–$14.8 billion and non-GAAP EPS of $0.20.

Citing “incredibly strong” Q1 results and 18A execution, Tigress Financial said that an AI data center and PC supercycle confirm Intel’s multi-year structural comeback. Accordingly, the firm raised its price target on Intel Corporation (NASDAQ:INTC) from $66 to $118 on April 30, 2026.

On the same day, Intel Corporation (NASDAQ:INTC) raised $6.5 billion by issuing senior notes with maturities between 2031 and 2066. Part of the proceeds will be directed toward the $14.2 billion agreement signed on April 1, 2026, to repurchase Apollo’s 49% stake in the Fab 34 Ireland joint venture. The company expects the transaction to boost its earnings and credit profile from 2027 onward.

On May 1, 2026, U.S. antitrust authorities completed their review of Intel’s $35 million investment in SambaNova, bringing the company’s stake to 8.2%. The investment came alongside a plan to pair SambaNova’s RDUs with its Xeon 6 processors, reflecting Intel Corporation’s (NASDAQ:INTC) broader push to build out its position in AI infrastructure.

Intel Corporation (NASDAQ:INTC) designs, manufactures, and sells computing and related products and services globally.

3. Applied Optoelectronics, Inc. (NASDAQ:AAOI)

After hitting its all-time high of $185.98 on May 1, 2026, Applied Optoelectronics, Inc. (NASDAQ:AAOI) ranks among the 7 tech stocks that just hit new all-time highs. The stock has gained 327.25% so far in 2026 (as of May 8, 2026), as investors draw confidence from the company’s central role in the AI-driven optical upgrade cycle.

Among the latest catalysts fueling that optimism is Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s April 29, 2026, receipt of a $20.9 million Texas Semiconductor Innovation Fund grant, which is expected to provide support to its Sugar Land expansion. The company’s expansion plan, including a new 210,000-square-foot facility that will create over 500 jobs, is anticipated to accelerate its push to build one of the largest U.S. production hubs for AI-focused transceivers.

At the same time, Applied Optoelectronics, Inc. (NASDAQ:AAOI) is rapidly translating that momentum into capacity, announcing a 388,000-square-foot expansion in Pearland on April 17, 2026. That initiative, along with existing and planned facilities, unlocks an opportunity for the company to produce up to 700,000 units per month of 800G and 1.6T transceivers. Management also remains confident in its laser fabrication capacity expansion of roughly 350% by 2027.

The strong demand backdrop supports that buildout.

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shared an update regarding a $71 million 800G order from a major hyperscaler. The new order, announced on April 2, 2026, builds on previous orders, bringing the total from that same customer to $124 million since mid-March and more than doubling the backlog. Management expects to start delivering these products in the second quarter and continue through the rest of the year. Therefore, that win bolsters the company’s revenue growth outlook.

Applied Optoelectronics, Inc. (NASDAQ:AAOI) intends to leverage strong demand to tap into the next upgrade cycle, announcing the first volume order for 1.6T data center transceivers on March 9, 2026. The order, valued at over $200 million, reflects early hyperscaler adoption. Meanwhile, management plans to deliver these products in the second half of 2026.

At the time of its fourth quarter 2025 earnings call, Applied Optoelectronics, Inc. (NASDAQ:AAOI) laid out its expectations to sustain its strong momentum in 2026, guiding for Q1 2026 revenue of $150 to $165 million and EPS between -$0.09 and $0.00. On May 7, 2026, the company announced its Q1 2026 results, with revenue coming in at $151.1 million, compared with $134.3 million in the previous quarter, though it missed analyst expectations. However, according to Rosenblatt, the quarter still reflected strong underlying momentum, driven by Amazon contributions, including early 800G revenue, anticipated qualification progress with Oracle that could open another revenue stream, and a significant increase in the company’s 2026 guidance. On May 8, 2026, the firm raised its price target on the stock from $140 to $220 and reiterated a “Buy” rating. The firm also cited management’s commentary regarding growing demand across 100G, 400G, 800G, and emerging 1.6T products.

Applied Optoelectronics, Inc. (NASDAQ:AAOI) designs, manufactures, and sells fiber-optic networking products for data centers, telecom, and broadband markets.

2. Sandisk Corporation (NASDAQ:SNDK)

Having reached its all-time high of $1,153.00 on May 1, 2026, Sandisk Corporation (NASDAQ:SNDK) secured a spot on our list of the 7 tech stocks that just hit new all-time highs. The company had been making important strategic moves in the background before that surge, taking the stock 558.16% higher in 2026 so far, as of May 8, 2026.

The year began with Sandisk and Kioxia agreeing to continue their Yokkaichi and Kitakami plant joint ventures in Japan for five additional years through 2034. Sandisk Corporation (NASDAQ:SNDK) pledged over $1.165 billion in manufacturing payments through 2029 to get 3D flash supply ready in advance for the next decade.

Meanwhile, February saw the company strengthen its presence in high-performance consumer storage with the launch of a new lineup of portable SSD products. The portfolio is led by the Extreme PRO, the highest-end model, which delivers up to 4,000 MB/s. These products are designed to serve demanding users like AI creators and professionals.

In the same month, SanDisk Corporation (NASDAQ:SNDK) and SK Hynix announced plans to develop and standardize a new memory technology, High Bandwidth Flash, that bridges HBM and SSD technologies. The initiative will be carried out through a consortium launched under the Open Compute Project, with initial samples of this technology expected in the second half of this year, and early device integration targeted for early 2027.

That backdrop set the stage for a strong earnings beat and guidance, released on April 30, 2026.

For the third quarter of 2026, the company’s reported revenue of $5.95 billion (+251% YoY) surpassed management guidance of $4.4 to $4.8 billion. Datacenter revenue, up 645% YoY to $1.47 billion, contributed heavily to that top-line growth, further driving non-GAAP gross margin to 78.4% and non-GAAP EPS to $23.41. Management had guided for EPS of $12 to $14 per share.

With the balance sheet remaining debt-free and free cash flow reaching $2.99 billion, management looks ahead with optimism, guiding Q4 revenue to $7.75 to $8.25 billion and non-GAAP EPS to $30 to $33.

As management signaled the acceleration is far from over, Bernstein drew confidence from the company’s stronger-than-expected performance, raising its price target on SanDisk Corporation (NASDAQ:SNDK) from $1,250 to $1,700. Further citing the robust near-term pricing strength, the firm keeps an “Outperform” rating as of May 4, 2026.

Sandisk Corporation (NASDAQ:SNDK) is a semiconductor and flash storage hardware company.

1. AXT, Inc. (NASDAQ:AXTI)

Having reached its all-time high of $96.00 on May 1, 2026, AXT, Inc. (NASDAQ:AXTI) secured a spot on our list of the 7 tech stocks that just hit new all-time highs.

The company’s 611.68% year-to-date surge (as of May 8, 2026) came as it marked its transition from a cyclical substrate supplier into a key enabler of AI-driven optical infrastructure. That transition is well-supported by the convergence of earnings execution, margin expansion, and capacity acceleration. AXT, Inc. (NASDAQ:AXTI) announced its Q1 2026 results on April 30, 2026.

Indium Phosphide stood out as a key catalyst amid strong demand seen across AI data center applications, contributing $13.6 million in revenue. That momentum helped AXT, Inc. (NASDAQ:AXTI) report Q1 2026 revenue of $26.9 million, while having reported $23.0 million revenue in Q4 2025 and $19.4 million in Q1 2025. The quarter marked a decisive inflection in profitability, with non-GAAP gross margins expanding sharply to 29.9% from 21.5% in the previous quarter. Meanwhile, a year ago, the company’s gross margin was negative.

Management attributed that performance particularly to higher volumes and a richer InP product mix, with pricing actions framed as potential supporting drivers. Looking ahead, they cited demand visibility, driven by an InP backlog exceeding $100 million. Accelerating AI infrastructure needs are further improving the demand profile, with management expecting Q2 to be the largest InP quarter so far. Management also eyes profitability in the second quarter.

On the strategic front, AXT, Inc. (NASDAQ:AXTI) is directing its recent $632.5 million capital raise toward aggressive Indium Phosphide capacity buildouts and next-generation 6-inch wafer development. That, alongside improving execution, positions the company to scale in line with hyperscaler demand.

That earnings inflection point translated into improved overall sentiment, with Wedbush lifting its price target on AXT, Inc. (NASDAQ:AXTI) to $93 on May 1, 2026, after raising it from $28 to $80 two days earlier. The bullishness the firm holds on the stock comes amid accelerating profitability, record backlog visibility, and aggressive capacity scaling.

Those catalysts are shifting AXT, Inc. (NASDAQ:AXTI) from a turnaround narrative to a structural growth story, while driving its breakout to new all-time highs. Its stock surged 40% from $68.71 on April 28 to close at $96 on May 1.

AXT, Inc. (NASDAQ:AXTI) is a material science company that develops and manufactures semiconductor substrate wafers. The company’s wafers are made up of indium phosphide (InP), gallium arsenide (GaAs), and germanium (Ge).

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