Amazon, Google, Nvidia and other tech stocks rise as Donald Trump announce ceasefire in Iran-US war
Technology stocks jumped back after US President Donald Trump announced a two-week ceasefire with Iran, triggering a broad market rally that sent some of the biggest names in the technology sector sharply higher after weeks of losses. Tech companies, including Meta, Amazon, Google-parent Alphabet and Nvidia led the charge among the ‘Magnificent 7’ stocks, as investors sitting on the sidelines rushed back into the market following news of the truce, CNBC reported.The report further says that the gains were striking across the board. Taiwan Semiconductor Manufacturing Company (TSMC) climbed 7%, while ASML, Applied Materials and Micron each surged 9%. Lam Research, Western Digital and Seagate all rose 10% — a remarkable single-day recovery for companies that had been battered in recent weeks.
What triggered the tech stocks rally
Trump said the US had received a proposal from Iran and that the two sides would continue negotiations while fighting was paused. The announcement, posted on Truth Social, was enough to send markets into immediate relief mode.However, the situation on the ground remains fragile. Ship traffic through the Strait of Hormuz has not yet returned to pre-war levels, and Saudi Arabia’s east-west pipeline was struck by a drone just hours after Trump’s post.
Why tech was hit hard
Wednesday’s rally reflects how deeply the Iran conflict had damaged technology stocks in recent weeks. Notably, some tech names had already been struggling heading into 2026, and the war piled on additional pressure through surging energy prices, supply chain concerns and a broader investor retreat from risk assets.Software stocks had been hit hard on fears that artificial intelligence (AI) may disrupt traditional software business models.Meanwhile, the Big Tech giants faced their own specific headwinds. Microsoft, specifically, had a turbulent time that the software giant’s shares fell 23% in the first quarter. This is a steeper decline than any of its major tech peers and significantly worse than the Nasdaq, which dropped 7% over the same period.