The last time the tech sector had a first half this strong, Bill Clinton was still president.
The XLK technology ETF has rallied 26% since the beginning of the year, its best January-to-June stretch since 1998. The likes of Microsoft, Advanced Micro, PayPal, MasterCard and Apple have been among those super-charging the gains.
One of those stocks is just getting started, according to Craig Johnson, chief market technician at Piper Jaffray.
“If there is going to be any sort of trade deal, take a look at the chart of AMD,” Johnson said on CNBC’s “Trading Nation ” on Friday. “This is a stock that has been in a pretty well-defined uptrend. A close above $33.50 on that stock would be a nice topside breakout and see an objective that would take the stock up into the mid-$40s.”