# John Rogers Sees Consumer Stocks Benefiting If AI Trade Falters

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/27487
Published: 2026-10-07T14:58:07.000Z
Updated: 2026-10-07T14:58:07.000Z
Section: Investing

> The Ariel Investments founder highlighted OneSpaWorld, Madison Square Garden Entertainment, Sphere Entertainment and J.M. Smucker as overlooked businesses.

Ariel Investments founder, co-CEO and Chief Investment Officer John Rogers expects overlooked consumer and entertainment companies to benefit if the artificial intelligence trade falters, as technology stocks continue to drive the market.

Rogers said the current AI trade reminds him of the internet bubble’s 2000 burst, when smaller and less fashionable companies later outperformed. He said the timing of any turning point is difficult to predict but described the market setup as similar to that period.

He pointed to world-class consumer brands selling below 10 times next year’s earnings, saying he had rarely seen such bargains during the past 20 to 30 years.

Rogers highlighted OneSpaWorld, which provides health and wellness services on cruise ships; Madison Square Garden Entertainment, which operates sports and entertainment venues including Madison Square Garden and Radio City Music Hall; and Sphere Entertainment, which operates the Sphere venue in Las Vegas and owns MSG Networks.

“People want entertainment,” Rogers said. “AI is not going to disrupt the business.”

He also cited J.M. Smucker, whose brands include Folgers coffee, Jif peanut butter and Smucker’s jams and jellies.

The AI trade has helped push technology stocks and the broader market to new highs. The S&P 500 closed above 7,800 on Tuesday for the first time, supported by chipmaking stocks, while nontechnology companies have received less attention.

Rogers said the consumer and entertainment businesses he favors are positioned to perform well as market attention shifts. “We think those businesses will really shine going forward,” he said.