Trade of the week: Tech stocks post best gain in nearly two years

Investors that bought the dip on technology stocks during the recent market pullback are reaping the benefits. As stocks rebounded to end the week and get back to near all-time highs, shares of artificial intelligence heavyweights like Nvidia and Microsoft are among the biggest winners. Stock in the chipmaker added 19% over the five-day stretch, while Microsoft climbed 3%. Shares of iPhone maker Apple notched a 4% gain, respectively.

But the revival of technology stocks should come as no surprise as the fundamental tailwind of AI hasn't materially changed in recent months despite some companies drawing investor ire because of rising capital expenditures to fund AI projects, according to Deepwater Asset Management managing director Gene Munster. "Nothing has changed in the underlying AI trade, I'm surprised that people came back as fast as they did," Munster told CNBC on Friday.

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