MORGAN STANLEY says semiconductor stocks could face less pressure next month but may still find support well below current prices. Mike Wilson’s strategy team kept its S&P 500 year-end target at 8,000, while flagging semiconductors and other capex beneficiaries as the epicenter of financing risk as markets question when and how large AI-driven revenue will be. The team said concern over supply pressure tied to ongoing financing is normal and likely to persist until financings finish. They view t

MORGAN STANLEY says semiconductor stocks could face less pressure next month but may still find support well below current prices. Mike Wilson’s strategy team kept its S&P 500 year-end target at 8,000, while flagging semiconductors and other capex beneficiaries as the epicenter of financing risk as markets question when and how large AI-driven revenue will be. The team said concern over supply pressure tied to ongoing financing is normal and likely to persist until financings finish. They view the sector’s correction as in a final phase and expect it to end by mid‑November, but technicals and parallels with prior hot markets (eg, silver) suggest a further 10–15% downside, putting the Philadelphia Semiconductor Index around 9,500.