5 of 6 AI-semiconductor sub-segments gained an average 45% in 2025. This article outlines each segment’s focus, overall performance, and the results of its key constituents.

The big news of the morning has to be the very good ISM services report for December, which shows that the 75% or so of the economy that is services was nowhere near recession last month. *All* of the components moved in the right direction.

While the S&P 500 has broken out to new highs in recent days, it is being driven by the “soldiers” not the mega cap tech “generals” that have led for this almost three year bull market.