Forget tech stocks. If oil goes to $100 these energy plays are unstoppable

• The iShares US Oil and Gas Exploration and Production ETF ( IEO ) is up 25.95% year-to-date. EOG Resources ( EOG ) was up 22.9%. Devon Energy (DVN) to combine with Coterra, $49.37 target. Energy Transfer (ET) 7% yield. The Nasdaq 100 ( QQQ ) is down 0.58% year to date.

• The death of Iran’s Supreme Leader Ayatollah Ali Khamenei injected a supply risk premium into oil markets, with WTI crude rising 10.3% to $71.13 as technical stocks closed.

• An analyst named NVIDIA just named his top 10 AI stocks in 2010. Get it for free here.

AI-driven tech stocks have dominated financial headlines for months, capturing the imagination of retail and institutional investors alike. But here’s what you really should see.

The geopolitical calculus just changed. The death of Iran’s Supreme Leader Ayatollah Ali Khamenei on February 28, 2026 has returned a serious supply risk premium to oil markets. WTI crude oil rose 10.3% last month, to $71.13 a barrel – the highest percentage level in a 12-month range of 96.4. A move toward $100 is no longer a trough scenario. When that happens, the energy names no one talks about will be the ones that matter.

Meanwhile, Tech is quietly losing ground. The Nasdaq 100 (QQQ) is down 0.58% over the past year and down 2.46% over the past month. The AI ​​hype era has stretched values ​​to a level that demands perfection—and perfection is a delicate article. Energy, by contrast, is a crowded short trade sitting in a geopolitical powder keg. There are three locations for location.

READ: The analyst named NVIDIA in 2010 Just naming his top 10 AI stocks

EOG is the purest pure play bet on high crude oil. The company operates at a trailing P/E of just 14x and cash operating expenses of $10.09 per Boe – one of the lowest cost structures in US E&P. Consider the reverse math: EOG’s realized crude oil price in Q4 2025 was $59.54 per barrel, down from $71.66 in Q4 2024. At $100 oil, the development of conditions will be dramatic. EOG has beaten analyst estimates in every quarter of 2025, including a Q3 2025 surprise of more than 10%. Proved reserves grew to 5,514 MMBoe at the end of 2025, and free cash flow for fiscal 2025 reached $4.663 billion. The stock is up 22.9% year-to-date and still trades at a discount to what $100 oil means for earnings.

The DVN story isn’t just about oil prices – it’s about change. Devon’s all-stock merger with Cotra Energy, announced on February 2, 2026, marks $1 billion in annualized pre-tax synergies and is expected to close in Q2 2026. After the merger, quarterly dividends increase 31% to $0.315 per share with $5 billion in revised equity. The free cash flow story is already compelling: FY 2025 free cash flow stands at $3.119 billion. And DVN’s dividend history makes the $100 oil article visceral — when crude oil tops $100 in 2022, DVN paid $1.55 per share versus just $0.24 in Q3. Mizuho confirmed the strong performance after the Q4 print, and the consensus analyst target is $49.37, close to the current price of $43.

For retirement-focused investors seeking yield without replacing oil, energy transfers are the answer. ET’s fee-based midstream model insulates it from direct commodity fluctuations, while volume growth drives EBITDA. Management raised 2026 adjusted EBITDA guidance to $17.45-$17.85 billion, and the partnership is developing natural gas infrastructure to supply approximately 900 MMcf/d to Oracle data centers under a 20-year agreement. The distribution yield sits at roughly 7%, supported by unbreakable quarterly payments that rise steadily from $0.1525 in 2021 to $0.335 at the latest. Jefferies has a $20 price target on the stock trading near $18.76.

If single stock picking isn’t your preference, the IEO – iShares US Oil & Gas Exploration & Production ETF – offers a pure US energy play at an expense ratio of 0.38%, with EOG and DVN among its top holdings. The ETF is up 25.95% year-to-date — while the QQQ is flat.

Tech had his moment. Energy has catalysts, value supports, and geopolitical tailwinds. Add details to at least one of these names before people point them out.

Wall Street is pouring billions into AI, but many investors are buying the wrong stocks. The analyst who first identified NVIDIA as a buyback in 2010 — before its 28,000% run — has identified just 10 new AI companies that he believes can deliver returns beyond that point. One dominates the $100 billion equipment market. Bill addresses the single biggest obstacle to maintaining AI data centers. The third segment is a net play in the optical network market that is quadrupling. Most investors haven’t heard of half of these names. Get a free list of all 10 stocks here.