The Sectors Quietly Winning While Investors Focus on Tech

The article argues that while investors are fixated on AI and tech, sectors like energy, basic materials, and industrials are quietly outperforming or keeping pace with the market. Energy (led by XLE) has risen sharply — roughly 32% since year-end — as oil surged following supply disruptions linked to conflict in Iran, with crude moving from about $67 to over $100 per barrel since early March. The IEA now forecasts a 1.78 million barrels-per-day average supply deficit for 2026. Basic materials gains are driven by gold and agricultural commodities, while industrials (led by names such as GE Vernova, Vertiv, Rocket Lab, Bloom Energy) are benefitting both from AI-related infrastructure demand and broader economic drivers. The piece frames these moves as reasons for investors to diversify beyond pure tech exposure, highlighting potential continued upside in these sectors even if AI remains the market headline.