John Authers, Columnist

A Silicon Rally to Knock Your SOX Off

The rise of semiconductor stocks over the last month has been breathtaking.

April 27, 2026 at 4:00 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

SOX it to me.
Photographer: David Paul Morris/Bloomberg

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Whatever your view on the likely outcome in Iran, or the polarization in the US that saw a gunman try to storm a glitzy dinner attended by President Donald Trump at a Washington hotel, the artificial intelligence boom can make your opinion irrelevant. The stock market is at all-time highs, powered by an extraordinary rally for semiconductor stocks.