# The technology sector soared by 2.2%, driven by significant gains in chip stocks.

*business · news · 2026-05-29 · Devdiscourse*

## Key points

- Dell's stock surged 34.7% after it raised its profit and revenue forecasts.
- Hewlett Packard Enterprise and Super Micro Computer stocks jumped 13.6% and 17%, respectively.
- Washington and Tehran reportedly agreed to extend their ceasefire and ease Strait of Hormuz shipping restrictions.
- The technology sector rose 2.2%, largely driven by chip stock gains and AI optimism.

Wall Street's top indexes continued their record-breaking ascent on Friday, with weekly and monthly gains in sight. The surge came as tech stocks rallied and reports of a U.S.-Iran deal buoyed investor sentiment. The technology sector soared by 2.2%, driven by significant gains in chip stocks. Dell made headlines with a 34.7% surge after upgrading its profit and revenue forecasts. Meanwhile, Hewlett Packard Enterprise and Super Micro Computer also saw impressive gains of 13.6% and 17%, respectively. Reports indicated Washington and Tehran agreed to extend their ceasefire and ease shipping restrictions through the Strait of Hormuz, pending President Trump's approval. Despite concerns about inflation and the global economic impact of the Iran conflict, market optimism persisted, fueled by AI advancements and robust earnings growth. (With inputs from agencies.)

**Companies:** Dell, Hewlett Packard Enterprise, Super Micro Computer
**Countries:** United States, Iran

[Read the full story on Devdiscourse](https://www.devdiscourse.com/article/business/3926158-tech-stocks-propel-wall-street-to-record-highs-amid-us-iran-deal-optimism)

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