Support for semiconductor stocks could be as much as 15% lower than current levels, says Morgan Stanley
Summary
Morgan Stanley's top strategist maintains a year-end target of 8,000 for the S&P 500 index. However, the firm has expressed rising caution regarding the semiconductor sector. According to the financial institution, market support for these chip stocks could drop significantly below current trading levels.
The chief stock-market strategist for Morgan Stanley is sticking with a forecast that the S&P 500 will end the year at 8,000, but growing caution is on display as he identified that support for the key semiconductor sector could come considerably lower.
Source: Read the full story at MarketWatch.com - Top Stories
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