Goldman Sachs head of asset-allocation research Mueller-Glissmann called the recent tech sell-off a healthy correction after speculative positions had risen. He warned against extrapolating Broadcom’s below‑expectations guidance across the highly cyclical tech hardware and semiconductor sectors. He said the main market risk is investors starting to doubt the strong earnings growth that has driven most of this year’s gains. He added a potential reopening of the Strait of Hormuz could help broaden

Goldman Sachs head of asset-allocation research Mueller-Glissmann called the recent tech sell-off a healthy correction after speculative positions had risen. He warned against extrapolating Broadcom’s below‑expectations guidance across the highly cyclical tech hardware and semiconductor sectors. He said the main market risk is investors starting to doubt the strong earnings growth that has driven most of this year’s gains. He added a potential reopening of the Strait of Hormuz could help broaden the rally beyond AI-focused stocks into European equities and bonds.