US Tech Stocks September 2026: Portfolio Check & Watchlist

Key Takeaways

• AMD achieved a maximum price gain of 152.7% through end of July 2026, Dave gained 151.3% – both lead the list of top performers among expert recommendations for 2026 (Source: LYNX Experts, published August 27, 2026).
• Alphabet is rated attractively with an expected P/E ratio for 2026 of approximately 27 – cheaper than Microsoft and Apple, both trading above 30 times earnings (Source: cash.ch, published December 23, 2025).
• Infrastructure enablers such as Quanta Services, Dycom Industries and MasTec benefit from the expansion of critical AI infrastructure – hedge fund Peconic Partners added these stocks to its portfolio (Source: cash.ch, published December 16, 2025).
• 2026 is characterized by strong volatility in AI stocks and geopolitical uncertainties, particularly Iran conflicts and tariff policy (Source: LYNX Experts, published August 27, 2026).
• The DAX closed 2025 at 24,490 points with an annual gain of 23% – the third consecutive positive year at the stock exchange (Source: LYNX Experts, published August 27, 2026).

Extreme Price Gains at AMD and Dave – Top Performers Through July

The first seven months of 2026 brought spectacular profit opportunities for investors who bet on the right tech stocks. According to an analysis by LYNX Experts from August 27, 2026, AMD achieved a maximum price gain of 152.7% through end of July – the top performer among stocks recommended at the start of the year. Dave follows closely behind with 151.3%.

Roku landed in third place with 40.0%, Diamondback Energy came in at 39.3%. These figures document the ongoing dynamism in the tech sector, although accompanied by considerable volatility. The first half of 2026 was characterized by Iran conflicts and strong fluctuations in AI stocks, as noted by LYNX Experts in their analysis from August 27, 2026.

AI Boom as Structural Growth Driver – Established Beneficiaries

For investors who wish to continue betting on the AI boom, cash.ch recommended a selection of established stocks on December 16, 2025: Nvidia, Palantir, Broadcom, Meta, Amazon and Microsoft. According to the source, these companies have been thriving in the AI sector for some time and possess mature business models.

The AI boom is more than just a short-term hype – it is changing fundamental infrastructure requirements. Data centers need more power, more cooling and faster data connections. This structural demand is likely to persist in the coming quarters, provided that tech companies' investments in generative AI prove economically viable.

Infrastructure Play: Quanta Services, Dycom and MasTec in Focus

In addition to established tech giants, lesser-known infrastructure stocks are also benefiting from the AI wave. According to cash.ch on December 16, 2025, hedge fund Peconic Partners added three companies to its portfolio that provide critical infrastructure for AI expansion:

• Quanta Services: Construction of power transmission lines
• Dycom Industries: Fiber optic networks and telecommunications infrastructure
• MasTec: Energy and communications infrastructure

These companies are building the physical foundation for data centers and AI applications. Should the AI boom continue, these stocks are likely to benefit further. The infrastructure play offers indirect participation in the AI trend with potentially lower volatility than pure software or chip stocks.

Alphabet: Value Play with P/E of 27 and Dividend Launch

Alphabet is rated as attractively valued compared to other Magnificent 7 stocks. According to cash.ch from December 23, 2025, the expected price-to-earnings ratio (P/E) – a metric that relates the stock price to earnings per share – for 2026 is approximately 27. Microsoft and Apple both trade above 30 times earnings.

Alphabet has multiple strategic advantages:

• Has begun paying dividends – a signal of financial maturity
• Possesses a large cash pile for investments and share buybacks
• Integrating generative AI into search – its core business
• Strong cloud business (Google Cloud Platform/GCP) with growth prospects

This combination of moderate valuation, dividends, liquidity and AI growth potential positions Alphabet, according to cash.ch, as a solid core investment with growth upside.

Intuitive Surgical and the Importance of Cash Cushions

Intuitive Surgical is characterized as a company with an active share buyback strategy. According to LYNX Experts (published April 13, 2026, data as of September 30, 2025), the company had 9 billion USD in liquid funds and securities at the end of September 2025 – a very comfortable cash cushion.

Such liquidity reserves enable companies to counteract downturns, buy back their own shares or make strategic acquisitions. In a volatile market environment – as in 2026 – financial flexibility becomes increasingly important.

Salesforce and CrowdStrike – Surprising Performers in Late Summer

At the end of August 2026, LYNX Experts mentioned Salesforce and CrowdStrike as surprisingly strong performers. Both companies represent central tech trends of 2026: cloud computing (Salesforce) and cybersecurity (CrowdStrike).

Cybersecurity is gaining strategic importance in an increasingly connected and AI-powered world. Cloud computing remains a pillar of digital transformation. Both themes are likely to remain structurally relevant, regardless of short-term market movements.

Market Risks: Geopolitics, Volatility and Valuation Questions

According to cash.ch from June 24, 2026, tech stocks are walking a tightrope in 2026 between AI euphoria and geopolitical nervousness. The main risk factors are:

• Iran conflict and other geopolitical tensions
• Aftereffects of Trump's tariff policy from 2025
• Nervousness in the bond market
• High valuations for many AI stocks

According to LYNX Experts from August 27, 2026, 2025 ended with double-digit gains for equity investors and marked the third consecutive positive year at the stock exchange. The DAX closed 2025 at 24,490 points with an annual gain of 23%. After turbulent spring months in 2025 – triggered by tariff plans – the market recovered quickly.

For 2026, cash.ch from June 24, 2026 expects increased volatility in AI stocks and geopolitical uncertainties. 2026 could become a record year for IPOs, which according to cash.ch from August 18, 2026 carries additional risks – a high IPO inflow can tie up liquidity in the market and put existing positions under pressure.

Diversification Strategy for September: Broaden Your Approach

The consensus among expert sources is a broader diversification strategy, not just concentrated AI bets. According to cash.ch from December 16, 2025, a balanced portfolio should cover multiple layers:

• Established AI Beneficiaries: Nvidia, Microsoft, Meta, Amazon – the megacaps with mature AI business models
• Infrastructure Enablers: Quanta Services, Dycom, MasTec – indirect participation via infrastructure
• Value Tech Players: Alphabet with moderate valuation and dividends
• Specialized Players: Palantir, Broadcom, Intuitive Surgical – niche positions with specific competitive advantages
• Emerging Tech Stocks: Based on current top performer trends such as AMD or Roku

All cited sources emphasize: investing in capital markets is risky. Losses can exceed your initial investment.

Outlook: AI Boom Meets Structural Uncertainty

As of late August 2026, the US tech market appears fragmented between extreme winners like AMD (152.7%) and Dave (151.3%) and moderate performers. The AI boom remains a structural growth driver, but is overlaid by geopolitical risks and volatility.

A balanced tech watchlist for September should combine established megacaps, infrastructure beneficiaries and selective value candidates like Alphabet. Investors in the DACH region should also consider currency risks when investing in US stocks – the euro-dollar exchange rate can significantly influence returns in home currency.

At the end of the week on August 28, 2026, US indices declined slightly while European indices rose: the DAX stood at 26,553.5 points (up 0.66%), the Euro Stoxx 50 at 6,480.5 points (up 0.73%).