What a difference half a quarter makes. Step back in time to the end of March, and surging oil prices, rising bond yields, and falling stock prices made for a nasty investing dynamic. Retail sentiment was low, while the sell side was surely tempted to bring down their seemingly lofty year-end S&P 500 targets.
AI Saves the Tape
Alas, it was AI to the rescue once again. Semiconductor stocks have surged, with the VanEck Semiconductor ETF (SMH) climbing more than 60% since the March 30 bottom. Indeed, volatility works both ways.
And it’s not this bull market’s usual suspects leading the rally. Sure, NVIDIA (NVDA) is above its October 2025 peak, but the truly eye-popping returns have been found in more old-school, legacy chip and memory storage equities. Micron (MU) is a stone’s throw from joining the trillion-dollar market-cap club; Intel (INTC) is now almost a 7-bagger for the U.S. government’s stake; Samsung and SK Hynix in Taiwan make it a global story.
Bubble Talk Gets Louder
AI is surely the zeitgeist at industry conferences across sectors right now. Emerging technology, increased efficiency, and scalability are all talking points. But so too are headcount reductions, reduced tech-sector free cash flow, and growing worries about a 1990s-like bubble.
From a portfolio management perspective, concentration is a key theme, given the lack of widespread alpha amid the chip-stock boom.
The CEO Shuffle
The conflict in Iran and AI mega-trend are broad forces spurring discussions in conference rooms and hotel hallways. Another, more micro-level, trend is the wave of CEO departures. Last month, Tim Cook announced he’d hand over the reins to John Ternus, Apple’s senior VP of Hardware Engineering. Though the move didn’t surprise Wall Street, it was a reminder that we are in a new era.
Elsewhere in tech, Adobe’s Shantanu Narayen announced his intent to transition away from the CEO role. Executive changes have been most numerous in retail, with chiefs at Walmart, Target, and Lululemon all changing. Not to mention, Woodstock for Capitalists was without Warren Buffett for the first time earlier this month.
The Fed’s Next Story Is About to be Written
Industries are being reshaped. Perhaps it fits with just how fast executive teams must pivot. Maybe the most notable farewell occurs on Friday, when Fed Chair Jerome Powell cedes his seat to Fed Chair-designate Kevin Warsh. Monetary policy still matters, of course, but it appears the Federal Open Market Committee will be on hold for some time, if the Fed funds futures market is correct.
Rate cuts have been priced out since the start of the year, and the Financials sector is the worst-performing S&P 500 group thus far in 2026. Hence, banking events may feature a somber tone, juxtaposing jubilation at Information Technology, Communication Services, and Industrials gatherings.
The Best Earnings Season in Years
On net, corporate optimism has reason to be sanguine. With the Q1 earnings season almost in the books (we’re still waiting on big retail and NVIDIA to report), the year-over-year EPS growth rate is stellar. Profit revisions have soared, and not just for the Mag 7 or “AI 11.” As new estimates are factored in, it will be interesting to see how they shape longer-term outlooks from CEOs and CIOs.
That's a lot to consider. Here are the major investor conferences hitting on all those topics into mid-year:
Information Technology & Communication Services
May 13: Moffett Nathanson Media, Internet & Communications Conference
May 14: TD Cowen 28th Annual Telecom & Media Conference
May 14: Morgan Stanley Innovation & Impact Summit
May 18: JP Morgan Global Technology, Media, and Communications Conference
May 20: UBS Technology, Media & Internet Conference
May 27: TD Cowen and Company 54th Annual Technology Media and Telecom Conference
May 27: Jefferies Software, Internet, and AI Conference
June 2: Evercore Global TMT Conference
June 2: Bank of America Global Technology Conference
June 4: Gabelli 18th Annual Sports & Media Symposium
June 8: Apple Worldwide Developers Conference (WWDC)
June 9: Bank of America C-Suite TMT Conference
June 9: Rosenblatt Securities 6th Annual Age of AI Technology Summit
Health Care
May 19: RBC Capital Markets Global Healthcare Conference
June 2: Jefferies Global Healthcare Conference
June 8: Goldman Sachs 47th Annual Global Healthcare Conference
June 11: Citi European Healthcare Conference
June 16: Truist Securities MedTech Conference
June 18: UBS Life Sciences Conference
June 18: JP Morgan European Healthcare Forum
Consumer Discretionary & Consumer Staples
May 14: KeyBanc Capital Markets Virtual Consumer Leisure Spotlight
May 14: J.P. Morgan Fast Moving Consumer & Wellness Forum
May 19: Morgan Stanley Luxury Conference
May 19: HSBC Consumer Conference
May 20: Citi Luxury & Premium Brands Conference
May 21: Jefferies Automotive Aftermarket Conference
June 1: Morgan Stanley Travel & Leisure Conference
June 2: TD Cowen 10th Annual Future of the Consumer Conference
June 2: Deutsche Bank 23rd Annual dbAccess Global Consumer Conference
June 9: Oppenheimer 26th Annual Consumer Growth and E-Commerce Conference
June 15: Jefferies Consumer Conference
Financials & Real Estate
May 13: Wells Fargo Financial Services Investor Conference
May 18: Barclays 30th Annual Leveraged Finance Conference
May 19: Truist Securities Financial Services Conference
May 19: KBW Real Estate Finance & Technology Conference
May 21: Citi Diversified Financials: Meet the C-Suite Conference
May 27: Goldman Sachs Eleventh Annual Leveraged Finance and Credit Conference
May 27: Deutsche Bank Global Financial Services Conference
May 28: Deutsche Bank dbAccess Global Financials Conference
June 9: RBC Global Financial Technology Conference
June 9: Morgan Stanley 17th Annual US Financials, Payments & CRE Conference
Industrials
May 19: Wolfe Research 19th Annual Global Transportation & Industrials Conference
May 20: Deutsche Bank Global Autos, Mobility & Robotics Conference
May 20: Jefferies Infrastructure and Transport Summit
June 8: Jefferies Innovative Aerospace Virtual Summit
June 16: Truist Securities Industrials and Services Conference
June 22: Deutsche Bank Defense Conference
Energy & Utilities
May 14: Deutsche Bank Solar & Clean Tech Conference
May 18: Goldman Sachs Utilities & Clean Energy Conference
May 18: The 23rd Annual Energy Infrastructure CEO & Investor Conference
May 27: Bank of America Power, Utilities and Cleantech Conference
June 1: RBC Capital Markets Global Energy, Power, and Infrastructure Conference
June 8: BloombergNEF Summit Amsterdam
June 9: Jefferies Energy Conference
June 25: RBC Energy Transition Conference
Materials
May 13: BMO Capital Markets 21st Annual Farm to Market Chemicals Conference
May 19: Canaccord Genuity 5th Annual Global Metals & Mining Conference
June 3: Deutsche Bank 17th Annual Basic Materials Conference
June 10: JP Morgan Commodities Conference
June 11: RBC Capital Markets Global Mining and Materials Conference
June 16: Wolfe 3rd Annual Materials of the Future Conference
June 23: JP Morgan Natural Resources Conference: An Energy, Power, Renewables & Mining Event
Regional
May 18: UBS Investing in Europe Conference
May 18: Citi Pan-Asia Conference
May 18: Macquarie Asia Conference
May 20: JP Morgan Global China Summit
May 21: JP Morgan European Technology, Media, and Telecoms (TMT) Conference
May 26: Deutsche Bank German Corporate Conference
May 26: Deutsche Bank AG dbAccess European Champions Conference
May 26: UBS Asian Investment Conference
May 28: Morgan Stanley Asia AI Summit
June 9: Bank of America Securities Asia Conference
June 16: JP Morgan European Industrials Conference
June 16: Goldman Sachs European Business Services and Transport & Leisure Conference
Investor-Specific & Multi-Sector
May 15: Wolfe Research Small and Mid-Cap Conference
May 18: Wolfe Virtual Consumer Growth Conference
May 20: Sidoti May Microcap Conference
May 26: KeyBanc Capital Markets Industrials & Basic Materials Conference
June 2: Stifel 9th Annual Cross Sector Insight Conference
June 2: William Blair 46th Annual Growth Stock Conference
June 2: Baird 25th Annual Global Consumer Technology & Services Conference
June 3: UBS Auto and Auto Tech Conference
June 8: Stifel Investor Summit
June 9: Wells Fargo Industrials & Materials Conference
June 10: D.A. Davidson Annual Consumer & Technology Conference
June 17: Morningstar Investment Conference
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