The rally in artificial intelligence-related stocks is suddenly on shaky footing, and Oracle Corp.’s earnings report after the close represents the group’s next test.

Semiconductor stocks rallied on Tuesday while software fell, with the gap between the two sub-sectors of the tech industry the widest on record.

Micron Technology Inc. is the third-best performer in the S&P 500 Index this year and at the same time one of the least expensive stocks in the market. While that dichotomy looks bullish on the surface, it may be more of a warning sign than a green light for investors.

They were all stars of the dot-com era before fading into the background as the bubble burst and a new generation of tech darlings rose to the forefront. But Dell Technologies Inc., Nokia Oyj and Lenovo Group Ltd. are back with a vengeance thanks to the unrelenting artificial intelligence spending boom.

While software stocks rebound from the artificial intelligence-driven wipeout earlier this year, Salesforce Inc. hasn’t really benefited. But its earnings after the close Wednesday could pull the company’s shares out of their malaise.

Apple Inc. investors have spent nearly two years clamoring for the iPhone maker to make a big splash with artificial intelligence. Their wait may finally be coming to an end this week at the company’s annual Worldwide Developers Conference.

Chipmakers are by far the hottest stocks in the market, but their recent surge is lending urgency to the debate over whether investors are buying into an artificial-intelligence bubble that’s due to burst.