STOCKS | The Kobeissi Letter Says Chip Stocks Lead Current U.S. Bull Market

Chip stocks have become the new leading sector in the current U.S. stock market bull run, The Kobeissi Letter said in a post on X. According to Odaily, the account said many of the “Magnificent 7” stocks have fallen more than 20% from recent highs, while the semiconductor sector has taken over market leadership. The Kobeissi Letter added that eight of the top 10 best-performing stocks in the S&P 500 this year are from the chip industry. It also said the S&P 500 is expected to break above 8,000 if large-cap technology stocks regain market dominance while semiconductors remain strong or trade in a high-level range.