Deere & Co (DE), a more than $120 billion caps manufacturer of farm, construction, and forestry equipment, is a perfect example of a possible diversification of investment amid deteriorating tech stocks. Its market value is 150% up during 2020-2023. The stock is among top gainers for the recent 12 months (+31.2% since August 1, 2022), with nearly 10% being added after mid-June). The company raised its 2023 profit forecast, citing a surge of farm incomes to boost machines' purchases. It also engineered precision technologies like identifying and separating weeds from crops. Global demand on food and other agricultural products is high, while supply is not enough. Russia's exit from the grain deal with the United Nations and Turkey turned up the pressure. The sectoral leader may benefit from it.

Shares of Deere & Co temporary lost its upside momentum to make a technical correction after its strong but mostly unsurprising Q4 report in February, to touch levels below $350 per share, but soared again, following its all-time record sales 17% above consensus released on May 19 and profit  beating consensus by more than 40% YoY. The stock has three more weeks until August 18, when the Q2 2023 earnings report will be released, to retest its previous highs and may try to break it. This idea is driven by expectations that the company would report even better-than-anticipated Q2 results.