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AI-driven U.S. stocks soar! S&P 500 May Bull Stocks Review: Dell and Micron Lead Strongly

As the closing bell rang on Friday, the U.S. stock market ended its last trading day of May this year. Along with market expectations of an imminent ceasefire agreement between the U.S. and Iran and ongoing high optimism about AI, the U.S. stocks recorded an astonishing rally.

Recently, U.S. stocks hit new highs. By the close on Friday, the S&P 500 index rose 0.22%, to 7,580.06 points. This marked the S&P 500’s rare nine-week consecutive rise, the longest streak since December 2023.

For investors, as long as they didn’t deliberately avoid the information technology sector in May, they are bound to reap rewarding returns.

Although 8 out of the 11 sectors in the S&P 500 declined in May, the benchmark index still posted a 5.1% monthly gain. The information technology sector was the biggest contributor, with a monthly increase of 15.9%.

As infrastructure supporting generative artificial intelligence continues to advance, the semiconductor sector remains a key area for investor focus. The iShares Semiconductor ETF surged 23% in May, with a total increase of 89% so far in 2026 (this ETF gained 40% in 2025).

However, the rally in tech stocks is not limited to semiconductors. The S&P 500 Software and Services Index rose 16.3% in May. According to data from LSEG, from the beginning of this year to the end of April, this sector declined 15.7%. This indicates a clear reversal in market sentiment toward this sector in May.

Top Gainers: Dell and Micron Lead Strongly

Looking at individual stocks, Dell Technologies’ performance in May topped the S&P 500 components. Stimulated by explosive earnings reports (AI server revenue in Q1 FY2027 surged 757% YoY), Dell’s stock price skyrocketed 33% in a single day this past Friday, doubling in value over the entire month.

Micron Technology followed closely, with a nearly 90% increase in May. The ongoing super cycle of storage chips driven by the AI boom and backing from U.S. President Trump are key drivers behind Micron’s significant stock price surge.

Datadog ranked third on the gainers list, with an 87% increase in May, becoming one of the important representatives of the software rebound driven by AI. Datadog is a U.S.-based SaaS company providing monitoring services for servers, databases, and more.

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Notably, Microsoft, the third-largest company by market cap among the S&P 500 components, did not make the list, as its stock only rose 10% in May. However, considering that from the beginning of the year to the end of April, Microsoft’s stock declined 15.7%, the rapid rebound of tech stocks in May is evident. $MU