The Nasdaq 100 has gained 180.1% since the start of 2023, putting the tech-heavy index on track for its best four-year run since 1999.

The index, tracked by the Invesco QQQ Trust, Series 1 (QQQ), has recorded four straight 20%-plus years: 53.8% in 2023, 24.9% in 2024, 20.2% in 2025 and 21.3% so far in 2026.

Memory and semiconductor stocks are carrying the index.

SanDisk Corp. (SNDK) has surged 695.8% year to date, Micron Technology Inc. (MU) 278.9% and Intel Corp. (INTC) 229.6%.

Seagate Technology Inc. (STX), Marvell Technology Inc. (MRVL) and Arm Holdings plc (ARM) each rallied over 200% thus far this year.

Dispersion is brutal with software names being the worst performers: Intuit Inc. (INTU) has lost 56.2%, AppLovin Corp. (APP) 51.8%.