JPMorgan: AI Sector Unlikely to Be Main Driver of Market Returns in Second Half

JPMorgan strategists believe that as market performance spreads across more sectors, technology stocks or AI-related stocks are unlikely to be the main drivers of market returns in the second half of the year. The team led by Mislav Matejka stated that the sell-off in momentum trading is likely mostly over, and semiconductor stocks are currently nearing oversold levels. The team noted in their report that, as earnings momentum remains upward, this should help stabilize related stocks. They expect market performance to continue to spread across more sectors and reiterate their recommendation for investors to buy on dips due to geopolitical tensions.

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