MarketMoodz
Stephanie Link rotates from Chevron to technology stocks on AI-driven demand
Stephanie Link, chief investment strategist at Hightower Advisors, says she sold Chevron to realize about a 35% gain and plowed the proceeds into a broad slate of technology names, signaling a leadership shift toward tech amid AI-driven demand.
Key Takeaways
- Sold Chevron (CVX) for ~35% gain and redeployed into tech equities.
- Keeps a “really big” position in Schlumberger (SLB), maintaining energy exposure.
- Sees Quanta Services as a beneficiary of data-center expansion and grid-upgrade cycles, with ~37% YTD rise.
- Points to Nvidia and Broadcom as easy AI beneficiaries and highlights AI-related semis and infrastructure names like Vertiv and Eaton.
People Involved
- Stephanie LinkChief Investment Strategist, Hightower Advisors
Entities Involved
- Chevron Corporation (CVX)Oil major from which shares were sold for gains
- Schlumberger (SLB)Oilfield services company with a large remaining position
- Quanta Services (PWR)Power and data-center infrastructure services provider highlighted as beneficiary
- Vertiv Holdings (VRT)Power infrastructure equipment supplier highlighted as attractive
- Eaton Corporation (ETN)Power management company highlighted as attractive
- NVIDIA Corporation (NVDA)AI-focused semiconductor/tech stock named as easy tech play
- Broadcom Inc. (AVGO)Semiconductor and software company named as easy tech play
MarketMoodz Analysis
The move illustrates a broader rotation among asset allocators from traditional energy leadership to technology leadership, driven by AI and data-center demand. For investors, this could translate into shifts in sector weights, with tech benefiting from AI capex and cloud-scale demand while energy exposure faces commodity-price and geopolitical risks.
Historically, periods of AI-driven infrastructure spend have coincided with outsized tech rallies and selective energy exposure within diversified portfolios. Link’s action echoes a mindset shift among active managers toward identifying beneficiaries of data-center expansions, edge computing, and semiconductor supply chains, rather than trailing only traditional energy leadership.
What to watch next: monitor AI-related capex cycles, data-center completions, and chip supply dynamics, as well as fund flows into data infrastructure names and AI beneficiaries. Also observe how energy positions are trimmed or rotated in fund-level risk budgets and how hedging strategies perform against commodity cycles.
Source: Original Article