[MARKET ANALYSIS] : NDX extends on recent gains amid bullish tech stories

Tech gains, and outperforms, continuing on from Monday's bid.

On Monday, Alphabet shares profited, leading the Nasdaq gains, amid reports it is developing a new server chip, however, shares have trimmed some gains in pre-market trade as Tae Kim said Google is a secular short.

Back to the tech outperformance on Tuesday, due to a couple of bullish factors, which is seeing a rally in semis and AI plays such as data center and infrastructure following a surge in Asian markets helped by more positive newsflow. Amongst others, there are numerous reasons contributing to the gains seen.

• 1) Taiwan export orders in June +59.4% Y/Y, surpassing Wall St. consensus of 49.5%
• 2) Nikkei reported that TSMC (TSM) is set to raise prices for both advanced and mature chip production services by up to 10% in 2027
• 3) Nvidia (NVDA) disclosed a 9.3% passive stake in Nebius (NBIS), and the stake includes Nvidia's earlier USD 2bln investment
• 4) Hut 8 (HUT) and Iren Limited (IREN) extend on gains after recent order news

In terms of the path ahead, Alphabet earnings on Wednesday AMC will be eagerly watched, with attention on capex updates.