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2025 US sector outlook

Get an inside look at investing opportunities for 2025 and beyond.

A rising tide lifted nearly all boats in 2024, with most sectors poised to deliver positive returns as of late-December. While tech and communication stocks may have dominated the market news, there were also winners in surprising places, like financials and consumer discretionary.

For 2025, the outlook for many sectors is bright, as themes like AI, falling rates, and the resilient economy have the potential to drive results. Read on for our sector portfolio managers’ outlook for 2025, plus where they’ve found the most exciting potential opportunities.

Technology

These companies have been powering the AI revolution.

Financials

Financials have been riding strong post-election momentum, giving them a potential tailwind into 2025.

Real estate

Data centers may offer an underappreciated play on the AI boom.

Health care

This innovative sector may offer long-term drivers and low valuations.

Energy

Rising global demand and limited supply could keep oil prices and profits high in 2025.

Industrials

Aerospace, reshoring, and restocking could all help this sector gain altitude in 2025.

Materials

There are bullish long-term stories to be found in this cyclical sector.

Consumer staples

Bargains and turnaround stories abound in this defensive sector.

Utilities

Electricity demand is at an inflection point, creating a once-in-a-generation potential opportunity.

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Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

Past performance is no guarantee of future results.

Views expressed are as of the date indicated, based on the information available at that time, and may change based on market or other conditions. Unless otherwise noted, the opinions provided are those of the speaker or author and not necessarily those of Fidelity Investments or its affiliates. Fidelity does not assume any duty to update any of the information.

As with all your investments through Fidelity, you must make your own determination whether an investment in any particular security or securities is consistent with your investment objectives, risk tolerance, financial situation, and evaluation of the security. Fidelity is not recommending or endorsing this investment by making it available to its customers.
Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. The securities of smaller, less well known companies can be more volatile than those of larger companies.

Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies.

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