By CMC Markets
Publication Date: 2026-04-14 00:00:00
With volatility seemingly the new normal for the market, investors fled high-growth tech stocks in the first quarter of the year to settle in the “real economy.” Blue-chip classics like McDonald’s (MCD) and Exxon Mobil (XOM) have seen stocks rise, with the market seemingly immune to disruption from the rapid advances in artificial intelligence (AI) in search of revenue streams.
However, Argan (AGX) appears to offer the best of both worlds.
The Rockville, Maryland-based holding company provides engineering, procurement and construction (EPC) services for power generation and industrial projects. Argan is indirectly affected by the AI data center boom through the construction of gas facilities, while its core construction business appears immune to both AI-related disruptions and a possible shift away from the technology. In fiscal 2026, the company reported a significant backlog of $2.9 billion, supported by, in the words of CEO David Watson, “rapid growth in AI and data…”
