IMGELD (Date: May 31, 2026 )
Overall leadership is concentrated in Semiconductors & Semiconductor Equipment and Electronic Equipment, Instruments & Components, supported by robust AI and hardware demand, with pockets of strength in Communications Equipment and Metals & Mining.
On the weak side, Consumer Finance, Mortgage REITs, and parts of Hotels, Restaurants & Leisure lag as credit conditions and discretionary spending remain mixed, while some utilities and media pockets trade more defensively despite idiosyncratic positives.
Top 5 Strongest Industries
(Long bias)
Semiconductors & Semiconductor Equipment
Final Score: 95.64
Before: #2 → Now: #1
Why they are strong: Chipmakers are benefiting from a powerful AI-driven investment cycle, with US chip stocks racing toward their biggest gains since the dotcom era on surging demand for AI hardware.
Key Players: Nvidia, Advanced Micro Devices, IntelElectronic Equipment, Instruments & Components
Final Score: 94.56
Before: #1 → Now: #2
Why they are strong: Demand for advanced electronic components and test equipment is closely tied to the ongoing AI and data-center buildout that is propelling chip and hardware spending higher.
Key Players: Keysight Technologies, TE Connectivity, CorningTechnology Hardware, Storage & Peripherals
Final Score: 93.39
Before: #3 → Now: #3
Why they are strong: Hardware and storage vendors are seeing elevated demand as cloud and AI infrastructure spending accelerates alongside the chip rally.
Key Players: Apple, Dell Technologies, Hewlett Packard EnterpriseCommunications Equipment
Final Score: 93.18
Before: #4 → Now: #4
Why they are strong: Policy and security scrutiny of foreign-made networking gear is reinforcing demand for domestic and allied communications equipment suppliers in the US market.
Key Players: Cisco Systems, Ciena, Arista NetworksMetals & Mining
Final Score: 91.82
Before: #5 → Now: #5
Why they are strong: Metals and mining companies are benefiting from tight supply and growing materials demand that is intertwined with large-scale infrastructure, energy transition, and technology investment.
Key Players: Freeport-McMoRan, Newmont, Southern Copper
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Bottom 5 Weakest Industries
(Short bias)
Hotels, Restaurants & Leisure
Final Score: 26.26
Before: #48 → Now: #50
Why they are weak: Many US restaurant stocks have struggled to start 2026 as higher costs and uneven consumer traffic pressure margins and keep the group underperforming.
Key Players: McDonald’s, Starbucks, Marriott InternationalMortgage Real Estate Investment Trusts (REITs)
Final Score: 15.24
Before: #49 → Now: #49
Why they are weak: Mortgage REITs remain pressured by rate and funding uncertainty as broader real estate markets focus more on large apartment REIT consolidations than on mortgage credit recovery.
Key Players: Annaly Capital Management, AGNC Investment, Starwood Property TrustConsumer Finance
Final Score: 14.15
Before: #50 → Now: #48
Why they are weak: Consumer finance names are lagging as investors favor larger US banks and big-cap growth stocks, reflecting caution around consumer credit quality and regulation.
Key Players: Capital One Financial, Discover Financial Services, Synchrony FinancialCommercial Services & Supplies
Final Score: 13.79
Before: #47 → Now: #47
Why they are weak: Many commercial service providers are more cyclically exposed and are not benefiting as directly from the AI and chip-led equity rally that is driving current market leadership.
Key Players: Waste Management, Cintas, Republic ServicesBuilding Products
Final Score: 12.27
Before: #46 → Now: #46
Why they are weak: Despite a high-profile $17 billion acquisition in the space, building products stocks remain mixed as investors weigh deal integration risk and an uneven construction backdrop.
Key Players: TopBuild, Masco, Carlisle Companies
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Additional Readings
Semiconductors & Semiconductor Equipment: Chip stocks race higher on AI boom, driving sector toward biggest gains since dotcom era (Financial Times, 2026-05-28)
Article LinkElectronic Equipment, Instruments & Components: AI infrastructure buildout underpins demand for advanced electronic components (Financial Times, 2026-05-28)
Article LinkTechnology Hardware, Storage & Peripherals: Hardware and storage makers ride wave of AI and data-center spending (Financial Times, 2026-05-28)
Article LinkCommunications Equipment: US regulator bans imports of new foreign-made routers, citing security concerns (Reuters, 2026-03-23)
Article LinkMetals & Mining: Metals producers benefit from structural demand tied to AI, infrastructure, and energy transition (Financial Times, 2026-05-28)
Article LinkHotels, Restaurants & Leisure: Restaurant stocks are struggling to start 2026. Where to find buying opportunities (CNBC, 2026-03-15)
Article LinkMortgage Real Estate Investment Trusts (REITs): What the AvalonBay, Equity Residential megamerger means for the apartment industry and rents (CNBC, 2026-05-22)
Article LinkConsumer Finance: Stocks including Nvidia and Apple are top picks as market run-up continues, Bank of America says (CNBC, 2026-05-30)
Article LinkCommercial Services & Supplies: Cyclical and services names trail AI-led equity rally as investors crowd into tech and chips (CNBC, 2026-04-16)
Article LinkBuilding Products: QXO strikes $17 billion deal to acquire building products distributor and installer TopBuild (Reuters, 2026-04-19)
Article LinkMedia: Bertelsmann cranks up legal fight against US book bans as market grows (Reuters, 2026-03-26)
Article LinkElectric Utilities: Berkshire electric utility’s court win could save it billions (CNBC, 2026-04-11)
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