Viewpoint: Chip stocks have become a new driving force for the bull market in the US stock market, and the S&P 500 is expected to break through 8000 points

BlockBeats News: On July 7th, The Kobeissi Letter stated that it currently believes the S&P 500 index is preparing to break above 8000 points, as chip stocks have quietly become the new leading sector in this bull market. Despite many of the "Big Seven" stocks falling more than 20% from their recent highs, semiconductor stocks have taken over the market leadership. Since the beginning of this year, 8 out of the top 10 stocks in the S&P 500 index have come from the chip industry. Despite the weakness of large tech stocks that have been leading the market since 2022, the S&P 500 is still only about 1% below its historical high. This is the first time since 2022 that the market has risen under the leadership of sectors other than the "Big Seven" of the US stock market, while the "Big Seven" of the US stock market has shown the opposite trend. It believes that this rotation is positive because the "Big Seven" in the US stock market are preparing to take over again. As technology stocks begin to regain their leadership position and semiconductors continue to outperform or even cool down, the S&P 500 is expected to rise above 8000 points. Asset holders will continue to benefit. [Original link]