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Read more CNBC tech newsThis relief rebound comes after technology stocks had a difficult start to 2026. Technology stocks were particularly affected. last month amid a broader market sell-off driven by concerns over the war in Iran.
Software stocks have collapsed in recent months due to fears that artificial intelligence could disrupt software business models.
The erasure coincided with the actions of Big tech companies under pressure in February as investors wondered when they would start to see a return on their massive AI spending plans.
Microsoft stocks have been battered more than most tech names due to concerns about their AI Strategy. The stock fell 23% in the first quarter, a steeper decline than any of its tech peers or the Nasdaq, which fell 7% during that period.