Megaport Ltd (ASX: MP1) shares have been one of the S&P/ASX 200 Index (ASX: XJO)'s big comeback trades in 2026.
The Megaport share price is up 2.38% to $18.48 at the time of writing.
That puts the ASX tech share up around 15% over the past week and almost 60% since the start of the year.
But the biggest move has come from the lows in April.
Megaport shares hit an intraday low of $6.40 on 13 April before closing that session at $6.86.
Since then, the stock has staged a major rebound, helped by new AI infrastructure contracts and renewed broker interest.
The rally even took Megaport shares to a 52-week high of $21.16 last Friday.
So, what would a $10,000 investment near the April low be worth today?
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Why Megaport shares have taken off
The main driver has been a significant shift in sentiment toward Megaport's growth outlook.
The company recently announced four new AI infrastructure contracts with a total contract value of approximately $458.9 million.
Those contracts have helped put Megaport back in front of investors looking for ASX exposure to AI, cloud infrastructure, and data centre demand.
Megaport also launched a fully underwritten $827.3 million entitlement offer to help fund the capital expenditure needed to deliver the new work and build out its global GPU pool.
The retail entitlement offer opened today and is priced at $14.30 per new share.
That's below the current share price, which helps explain why eligible shareholders may be paying close attention.
Furthermore, Megaport narrowed its FY26 revenue guidance to between $307 million and $315 million.
How much would that investment be worth?
If an investor had put $10,000 into Megaport shares at the April intraday low of $6.40, they would have bought about 1,562 shares.
At today's price of $18.48, that holding would now be worth about $28,875.
That means the investment would have increased by roughly $18,875 in less than two months, before brokerage and any tax.
Even if the investor bought at the 13 April closing price of $6.86, the result would still be significant.
A $10,000 investment at that price would have bought about 1,458 shares. At today's price, that parcel would be worth about $26,940.
Either way, it shows how quickly sentiment has turned around for Megaport shares.
Foolish bottom line
Megaport has delivered an extraordinary short-term gain since April.
But after such a fast rally, investors are no longer buying the same beaten-down stock they were looking at two months ago.
UBS has reportedly lifted its price target to $24.20, while Macquarie has a higher target of $27.80.
Morgans has been more cautious, downgrading the stock to accumulate while still lifting its target to $21.
That suggests brokers still see upside in Megaport, but most of the gains appear to be already behind it.
