The AI gold rush returned with a flourish last week as solid earnings from NVIDIA and Google's Gemini 3 calmed jittery investors. However, two big up days don't make a rally, and the large trading ranges in major indices usually aren't signs of a confident market.
Even some members of the typically reliable Magnificent 7, like AMZN and META, are struggling as 2025 comes to a close, with gains continuing to go to a higher concentration of AI players. Does the rally have another run in it, or is it time to get defensive ahead of 2026? The answer likely depends on the sector you're investigating, or even the industry within that particular sector.
