The Nasdaq-100 Index performed very well in the month of June.
The two top performers saw their prices increase nearly 5 times the index.
Micron Technology and Arm Holdings were major winners for their shareholders.
The Nasdaq-100 index had an outstanding month in June. The index, consisting of the 100 largest non-financial stocks listed on the Nasdaq stock market, gained 6.3% in June. The two powerhouse technology stocks below, however, performed even better. Here's how well they did -- and why.
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Micron Technology's (NASDAQ: MU) share price increased 30.5% last month. That made it the Nasdaq-100's top performer. Micron designs and manufactures data storage products that have uses in generative artificial intelligence (AI), an area that has garnered plenty of investors' interest lately given that it's in the early days of what many believe is a massive growth opportunity.
In late June, the company reported fiscal third-quarter results for the period ended on May 29. Micron Technology reported revenue of $9.3 billion, a 15.5% increase from the previous quarter and up 36.6% from a year ago. The company's high-bandwidth memory (HBM) used for AI training had quarter-over-quarter revenue growth of 50%.
Management forecasts revenue of $10.4 billion to $11 billion for the fourth quarter, a 15% rise from the third quarter at the midpoint of its guidance.
Arm Holdings (NASDAQ: ARM) stock appreciated by 29.9% in June. The company designs, develops, and licenses central processing units (CPUs) for semiconductor and original equipment manufacturing companies like Apple and Nvidia.
Arm Holdings' stock price has been volatile this year, with the shares dropping from about $122 to $85 in April after large across-the-board tariffs were announced. The shares subsequently recovered and closed at nearly $146 on July 11.
June's price movement appears tied to broader positive sentiment after the Trump administration delayed some tariff implementations. Arm Holdings reported fiscal fourth-quarter results in early May. Revenue for the period ended on March 31 grew 34% year over year to $1.2 billion.
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Lawrence Rothman, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Nvidia. The Motley Fool has a disclosure policy.