The Nasdaq 100 index has gained 180.1% since the start of 2023, putting the technology-heavy index on track for its best four-year rally since 1999. The index, which is tracked by the Invesco QQQ Trust, Series 1 (NASDAQ: QQQ), has recorded four consecutive years with gains of 20% or more.
The performance breakdown for each year is as follows: the index rose 53.8% in 2023, 24.9% in 2024, 20.2% in 2025, and is up 21.3% so far in 2026.
Memory and semiconductor stocks are currently driving the index's performance. SanDisk Corp. (NASDAQ: SNDK) has surged 695.8% year to date. Other significant gainers include Micron Technology Inc. (NASDAQ: MU), which is up 278.9%, and Intel Corp. (NASDAQ: INTC), which is up 229.6%. Seagate Technology Inc. (NASDAQ: STX), Marvell Technology Inc. (NASDAQ: MRVL), and Arm Holdings plc (NASDAQ: ARM) have each rallied over 200% thus far this year.
Conversely, software names have been the worst performers. Intuit Inc. (NASDAQ: INTU) has lost 56.2%, and AppLovin Corp. (NASDAQ: APP) has declined 51.8%.
