Coca-Cola, Visa and Mastercard Hit Records as Money Leaves Chip Stocks
Investors are rotating from semiconductors into consumer, financial and energy stocks, with several names at record highs, according to Barron's.
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what happened
According to Barron's, shares of Coca-Cola, Visa, Mastercard and MetLife reached all-time highs this week. Chevron, Shell and ConocoPhillips also set records on Friday, while Gilead Sciences, Thermo Fisher and McKesson did the same in healthcare, and Urban Outfitters, Williams-Sonoma and SharkNinja in consumer discretionary.
Technology has lagged. Chip stocks, which had rallied on expectations of further heavy AI spending by the largest hyperscalers, were on track for a ninth straight losing session on Friday. JonesTrading's Michael O'Rourke said the S&P 500 remains close to its record despite the chip pullback.
HSBC and Horizon strategists expect third-quarter earnings to widen the rally into lagging sectors such as financials, consumer discretionary and real estate.
why it matters
If companies outside tech beat expectations, the rally could broaden across more sectors. The Invesco S&P 500 Equal Weight ETF trades below 16 times forward earnings, a larger-than-usual discount to the cap-weighted index.
market impact
Chips and Nasdaq: capital is flowing out of semiconductors; consumer, financial and energy stocks: gaining investor interest
instruments
sources
- Coca-Cola, Visa and Mastercard Hit Records as Investors Rotate Out of Chip Stocks — ru.tradingview.com, 16 October 2026 at 17:53 UTC
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