Morgan Stanley Chief US Equity Strategist: Chip stocks may retrace over 30%, but the S&P 500 is still seen at 8000 by year-end.

On July 6, Morgan Stanley's chief US equity strategist Mike Wilson said in an interview with Bloomberg that while chip stocks remain core assets in the AI wave, some have become severely overbought, and a short-term correction of 30% to 40% is entirely possible. However, he believes this does not mean the end of the US stock bull market; as funds rotate to other sectors, the S&P 500 could still continue to rise. He maintains his year-end target of the S&P 500 breaking above 8,000 points, citing that the core logic supporting the market still comes from corporate earnings growth.
US500-0.50%
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