¿Pueden los sindicados de IA de 2025 con mejor desempeño mantener su impulso en 2026?

The year 2025 has been a banner year for AI-driven stocks, with companies like Micron Technology (MU), Robinhood Markets (HOOD), and Newmont Corporation (NEM) surging on the back of technological innovation, macroeconomic tailwinds, and strategic reinvention. As investors look ahead to 2026, the critical question is whether these gains can be sustained-or if valuations have already priced in too much optimism. This analysis examines the interplay between growth potential and valuation realism for these three stocks, drawing on insights from Motley Fool, MarketBeat, and NerdWallet.

Micron: The AI Enabler's Balancing Act

Micron's ascent in 2025 has been fueled by its pivotal role in the AI revolution. Modern AI accelerators require massive amounts of high-speed memory, and Micron's expansion of leading-edge manufacturing facilities in Virginia and Singapore positions it to meet surging demand. The company's shift toward high-margin, high-performance chips-such as its high-bandwidth memory (HBM) products-has also improved profitability, with non-GAAP earnings per share hitting $4.78 in Q1 2026 and gross margins expanding.

However, optimism must contend with valuation concerns. Micron's stock trades at 25 times next-year earnings estimates, a premium that reflects confidence in its AI-driven growth but also exposes it to risks if demand softens or pricing pressures emerge as supply ramps up according to analysis. While its "picks-and-shovels" business model offers some insulation from AI spending volatility, investors should monitor the sustainability of its capital-intensive expansion and the pace of AI adoption in enterprise markets.

Robinhood: Fintech's High-Stakes Gamble

Robinhood's 2025 performance has been nothing short of meteoric, with its stock nearly tripling on the back of a 65% year-over-year revenue surge and a 116% jump in adjusted EBITDA. The company's diversification into Robinhood Gold, prediction markets, and tokenized assets has reduced its reliance on volatile crypto trading, which saw a 55% revenue drop in Q2 2025. Its prediction markets, in particular, have shown promise, with contract volume doubling each quarter.

Yet, Robinhood's valuation remains precarious. At a forward P/E of 59 and a price-to-earnings ratio exceeding 70, the stock is priced for continued hypergrowth, which may be difficult to sustain. Regulatory scrutiny-such as legal challenges to its prediction markets in Connecticut- and crypto market volatility pose additional risks. Analysts project 16% annual revenue growth through 2027, but achieving this will require navigating a complex regulatory landscape and proving that its fintech ecosystem can scale globally according to market analysis.

Newmont: Gold's Glitter and the Cost of Momentum

Newmont's 2025 rally-its shares surged 126%-167% year-to-date-has been driven by record gold prices and operational discipline. The company's free cash flow hit $1.7 billion in Q2 2025, and its $6 billion share repurchase program underscores management's confidence in its long-term prospects according to earnings call data. Analysts at UBS and Jefferies have set price targets as high as $125 per share, citing Newmont's low debt, strong reserves, and cost-cutting initiatives.

Valuation metrics appear favorable, with a forward P/E of 17.29 and a PEG ratio of 0.73, suggesting the stock is attractively priced relative to earnings growth. However, Newmont's valuation has moved to a premium compared to historical averages, and risks such as gold price volatility and rising operational costs could dampen momentum. While the company's production guidance for 2025 (5.9 million ounces of gold) is robust, longer-term sustainability will depend on its ability to maintain margins amid inflationary pressures.

The Verdict: Growth vs. Realism

Each of these stocks embodies the tension between AI-driven growth and valuation realism. Micron's technical leadership in memory chips offers a clear path to 2026, but its valuation leaves little room for error. Robinhood's fintech innovation is compelling, yet its speculative P/E ratio demands a high tolerance for risk. Newmont's gold-based momentum is supported by strong fundamentals, but macroeconomic shifts could disrupt its trajectory.

For investors, the key is balance. Micron and Newmont appear better positioned to sustain momentum due to their entrenched market positions and disciplined capital allocation. Robinhood, while innovative, requires a closer watch on regulatory and crypto-related headwinds. As one analyst noted, "The market is pricing these stocks for perfection-investors should prepare for the possibility of imperfection."