eToro Reports Record Retail Buying in Semiconductors, Fueled by AI Chip Rally

According to data from eToro, retail investors on its US platform set a new record for semiconductor stock buying in May 2026, marking the highest monthly volume this year.

The PHLX Semiconductor Index jumped 69.1% over April and May. Micron shares surged 187.4%, while Sandisk climbed 166.8%. The most bought names on eToro included Nvidia, Micron, Sandisk, Intel, and AMD.

Bret Kenwell, an investment analyst at eToro, called this a “heyday for retail investors” but cautioned that momentum could fade, exposing latecomers to risk.

For context, the index’s full-year 2023 return, a blockbuster year, was roughly 65%. The 2026 two-month rally has already matched that. Analysts warn of portfolio concentration risk as semiconductor exposure may have tripled for some investors without active rebalancing.