Forbes' Top Mid-Sized Companies Include Powell Industries and IES Holdings Amid Growing Interest in AI
Forbes has ranked Powell Industries and IES Holdings as the top mid-sized companies, with Abercrombie & Fitch, Dutch Bros, Sweetgreen, and Shake Shack following closely behind. The growing interest in artificial intelligence has been a major theme for investors in 2024, with Nvidia becoming the world's second most valuable company. Powell Industries has seen rapid growth in its "commercial and other industrial markets" segment, including data centers, which require complex computer systems. Mid-cap companies, like those on Forbes' list, have better growth potential than large established companies and more stability and scale than small ones. Tariffs and other factors could benefit mid-cap companies with a domestic focus, according to Chris Welch, portfolio manager of the Diamond Hill Small-Mid Cap Fund.
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