In its 2026 preview, Capstone LLC highlights substantial shifts in the technology, media, and telecom sectors, particularly regarding regulatory changes. The firm anticipates that major platform operators, such as Google, Apple, and Meta Platforms Inc., will encounter increased scrutiny due to new age verification laws and ongoing litigation concerning child safety.
The Trump administration is expected to maintain a pro-AI regulatory posture, prompting state and judicial bodies to enact specific restrictions. Additionally, the semiconductor industry may experience a transactional approach to export controls, allowing continued supply of advanced chips to China.
In the cryptocurrency space, frameworks established by the GENIUS Act and CLARITY Act will enable traditional financial entities to enter digital-asset markets, increasing competition with lower transaction fees. Meanwhile, international efforts to bolster domestic stablecoins aim to address dollarization effects.
Capstone also points to immigration policy as a critical risk factor, with expedited deportations impacting labor availability for homebuilders and potential wage law reforms affecting foreign IT firms. Staying informed on these developments is crucial for investors and companies navigating the evolving landscape.