This report outlines investment strategies for the second half of 2026, emphasizing themes such as hyperscalers, AI infrastructure, and national security, while advising caution on consumer discretionary and momentum stocks.
Key Takeaways
- 1.Expect a 2H setup of lower oil prices, easier inflation, relative consumer improvement, and an ongoing AI investment boom.
- 2.S&P 500 AI concentration has reached a record high of 51%.
- 3.The firm recommends a 'diversification trade' within and beyond AI for the second half of 2026.
Table of Contents
- Welcome to 2H!
- Buy the dip in hyperscalers
- Continue to hold AI data center equipment
- Buy Power Up America
- Buy Industries of Strategic National Security
- Buy global bioprocessing
- Short Low-Income Consumer Discretionary
- Hedge with the momentum
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Authors
Heejae Lee
Securities
GSXUHYPRGSTMTDAT
Themes
AI InfrastructureNational Security
Regions
GlobalUnited States