Small-cap stocks enjoy their best first half in 35 years. Here's what's driving it

Impact · against what's priced in

The rally in small-cap AI suppliers is largely a reflection of the ongoing infrastructure buildout, which is now clearly visible in the 400% gains for MXL, AEHR, and ICHR. While earnings revisions for the broader Russell 2000 are positive, the primary risk is the sensitivity of these small-caps to potential interest rate hikes.

MXL+0.40: No priced-in read yet

Small-cap stocks enjoy their best first half in 35 years. Here's what's driving it

What matters in this story

SIMO Stock Falls 33.5% in a Month as Growth Meets Execution Risks

Small-cap stocks enjoy their best first half in 35 years. Here's what's driving it

What matters in this story

SIMO Stock Falls 33.5% in a Month as Growth Meets Execution Risks

How each ticker is affected

Connected tickers

Track these names every morning.

A Volatile Quarter, and Where We See It Heading

AEHR Q1 Earnings Beat Estimates on AI Demand, Revenue Outlook Raised

SIMO Earnings Surge as Enterprise and AI Storage Drive New Momentum

Coherent Rallies 6% Ahead of Earnings as Optical Stocks Rebound; Applied Optoelectronics Gains 5%, Lumentum Ticks Up

Small-cap stocks enjoy their best first half in 35 years. Here's what's driving it

What matters in this story

Next reads from the same story arc

SIMO Stock Falls 33.5% in a Month as Growth Meets Execution Risks

Small-cap stocks enjoy their best first half in 35 years. Here's what's driving it

What matters in this story

Next reads from the same story arc

SIMO Stock Falls 33.5% in a Month as Growth Meets Execution Risks

How each ticker is affected

Connected tickers

Track these names every morning.

A Volatile Quarter, and Where We See It Heading

AEHR Q1 Earnings Beat Estimates on AI Demand, Revenue Outlook Raised

SIMO Earnings Surge as Enterprise and AI Storage Drive New Momentum

Coherent Rallies 6% Ahead of Earnings as Optical Stocks Rebound; Applied Optoelectronics Gains 5%, Lumentum Ticks Up