Support for semiconductor stocks could be as much as 15% lower than current levels, says Morgan Stanley — SkimNews
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- Morgan Stanley's chief stock-market strategist is sticking with his forecast that the S&P 500 will end the year at 8,000, even as growing caution showed in his remarks.
- Semiconductor stocks could see support as much as 15% below current levels, according to the Morgan Stanley strategist, who said the key sector's floor could come considerably lower.
Why it matters: The 15% figure is the actionable number for anyone underwriting semiconductor names: Morgan Stanley is identifying support materially below current levels, so the strategist's 8,000 S&P 500 target and his sector caution are no longer one and the same call. Investors relying on the headline index target alone would miss the more defensive read on chips.
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