A powerful rotation into cyclical and tech hardware leaders as semis, metals and transportation climb while media, leisure and commercial services lag
Strength is concentrated in semiconductors, metals and select transportation, while media, leisure and some services remain under pressure
IMGELD Executive Summary Date: Feb 25, 2026
Semiconductors, electronics and metals sit at the top of today’s rankings, while software, leisure products and some health care segments lag. Strength is broadly clustered in hardware‑ and commodity‑linked industries, with pockets of weakness where AI‑related volatility, consumer cyclicality and operational headwinds are more acute.
Top 5 Strongest Industries
(Long bias)
Semiconductors & Semiconductor Equipment
Final Score: 96.83
Before: #2 → Now: #1
Why they are strong: Semiconductors are leading as investors continue to favor hardware and chip-related exposure even as software and services reel from AI-related volatility, leaving demand for processing power and enabling chips structurally supported.
Key Players: Nvidia, Intel, Advanced Micro DevicesMetals & Mining
Final Score: 96.03
Before: #1 → Now: #2
Why they are strong: Metals & mining remain strong as rebounding gold and silver prices have recently pulled global mining stocks and precious metals ETFs higher.
Key Players: Newmont, Freeport-McMoRan, Barrick GoldElectronic Equipment, Instruments & Components
Final Score: 94.11
Before: #3 → Now: #3
Why they are strong: Electronic equipment and components benefit from investor rotation toward cheaper non‑mega‑cap industrial and hardware names as risk aversion weighs on the most expensive parts of the tech sector.
Key Players: TE Connectivity, Amphenol, Keysight TechnologiesTechnology Hardware, Storage & Peripherals
Final Score: 89.24
Before: #4 → Now: #4
Why they are strong: Technology hardware and peripherals are supported by renewed interest in physical infrastructure for AI and data workloads, even as software names experience sharp valuation-driven swings.
Key Players: Apple, Dell Technologies, Hewlett Packard EnterprisePassenger Airlines
Final Score: 85.54
Before: #6 → Now: #5
Why they are strong: Passenger airlines are gaining support from ongoing advances in autonomous and mobility technologies, such as Waymo’s expansion of robotaxi services in multiple US cities, which bolster investor interest in transport and travel innovation.
Key Players: Delta Air Lines, United Airlines, American Airlines
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Bottom 5 Weakest Industries
(Short bias)
Commercial Services & Supplies
Final Score: 26.47
Before: #56 → Now: #52
Why they are weak: Commercial services & supplies remain weak as investors increasingly rotate away from more speculative service sectors and toward cheaper, smaller industrial and hardware companies amid heightened risk aversion in tech.
Key Players: Waste Management, Cintas, Republic ServicesLeisure Products
Final Score: 27.85
Before: #55 → Now: #53
Why they are weak: Leisure products lag as discretionary categories face pressure from slowing US consumer spending, with high prices increasingly curbing demand.
Key Players: Hasbro, Mattel, BrunswickMortgage Real Estate Investment Trusts (REITs)
Final Score: 33.01
Before: #54 → Now: #54
Why they are weak: Mortgage REITs remain under strain in a backdrop where housing-related cash flows are pressured, with apartment markets seeing elevated vacancies and softening rents.
Key Players: Annaly Capital Management, AGNC Investment, Starwood Property TrustHotels, Restaurants & Leisure
Final Score: 34.44
Before: #53 → Now: #55
Why they are weak: Hotels, restaurants & leisure are pressured as slowing US consumer spending and persistent price sensitivity weigh on discretionary out-of-home services.
Key Players: Marriott International, McDonald’s, Caesars EntertainmentMedia
Final Score: 39.17
Before: #52 → Now: #56
Why they are weak: Media stocks remain among the weakest groups after a recent selloff wiped out nearly 1 trillion dollars in software and services market value as investors debated AI’s existential threat to digital content and online services.
Key Players: Walt Disney, Comcast, Paramount Global
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Additional Readings
Semiconductors & Semiconductor Equipment: Hardware and chips hold up as software reels from AI volatility (CNBC, 2026-02-24)
Dow closes more than 350 points higher as software stocks bounce back from AI disruption sell-off: Live updatesMetals & Mining: Gold and silver rebound, lifting mining stocks and metals ETFs (CNBC, 2026-02-02)
Gold and silver rebound, pulling global mining stocks and precious metal ETFs higherElectronic Equipment, Instruments & Components: Investors rotate into cheaper industrial and hardware names (Reuters, 2026-02-08)
Investors chase cheaper, smaller companies as risk aversion hits tech sectorTechnology Hardware, Storage & Peripherals: Market refocuses on hardware exposure during AI-driven volatility (CNBC, 2026-02-24)
Dow closes more than 350 points higher as software stocks bounce back from AI disruption sell-off: Live updatesPassenger Airlines: Mobility innovation lifts transport interest (CNBC, 2026-02-24)
Waymo opens robotaxi service to ‘select riders’ in Houston, Dallas, San Antonio and OrlandoCommercial Services & Supplies: Rotation out of some service areas into cheaper industrials (Reuters, 2026-02-08)
Investors chase cheaper, smaller companies as risk aversion hits tech sectorLeisure Products: High prices weigh on discretionary goods demand (Reuters, 2025-12-05)
US consumer spending slows in September as high prices curb demandMortgage REITs / Residential REITs: Apartment rents fall as vacancies hit records (CNBC, 2025-12-02)
Apartment rents drop further, with vacancies at record highHotels, Restaurants & Leisure: Consumer spending slows, pressuring discretionary services (Reuters, 2025-12-05)
US consumer spending slows in September as high prices curb demandMedia: AI-related selloff hits software and services, dragging media-linked names (Reuters, 2026-02-04)
Selloff wipes out nearly $1 trillion from software and services stocks as investors debate AI’s existential threatCapital Markets / Banks context: Political focus on markets and retirement savings (Reuters, 2026-02-24)
Trump boasts of stock market rally, promises $1,000 retirement savings contributionsConsumer Finance: Political risk over credit card rate caps (Reuters, 2026-01-12)
Financial stocks fall as Trump’s credit card rate cap plan rattles investors“