The Dow Utility Index has had an extraordinarily good year, driven largely by the surprising assertion that, ya know, since AI is going to be a multi-trillion dollar industry then, ya see, all those chips are going to need tons of power so all the power-providing utility companies are going to have an absolutely bonanza. Right.
I would suggest, however, that XLU seems to entered a sputtering mode, as perhaps the credibility of bidding up the formerly boring, staid, and dull utilities to the stratosphere is a bit premature.
In particular, as I suggested earlier this week, Next Era (NEE) seens especially ripe for the picking.
