Morgan Stanley Maintains S&P 500 Year-End Target of 8,000; Expects Chip Stock Rotation to Data Center Operators

US500-0.36%
According to Morgan Stanley, Chief U.S. Equity Strategist Michael Wilson said on July 7 that investors are gradually selling technology stocks, with U.S. equities unlikely to reach new highs in the near term. Momentum in semiconductor stocks is weakening notably, with capital shifting toward underperformers including AI-focused hyperscale data center operators such as Microsoft, Amazon, and Meta Platforms. Wilson maintains his year-end S&P 500 target of 8,000, implying approximately 6% upside from current levels.
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