As new tech shines, market takes rest on old cushions: Devina Mehra (opens original article in a new tab)

Market trends show a shift from tech giants to small-cap and old-economy stocks, with semiconductor companies leading gains, while historical patterns suggest cyclical volatility in tech sectors.

• US small-cap and old-economy stocks like transportation have surged in 2026
• Semiconductor and equipment companies account for 70% of S&P 500's 2026 gains
• Market themes shift frequently, emphasizing the need for diversification
• Historical data suggests semiconductor industry is cyclical and capital-intensive
• Mag 7 stocks have underperformed compared to other sectors