Bloomberg Surveillance · Wednesday, July 22, 2026
An analyst from Edward Jones believes the AI trade is in its middle innings and that tech stocks could regain momentum. They noted that while semiconductors have seen a pullback, they are still up significantly year-to-date. The broader market's performance has been led by areas outside of tech recently, but earnings season may shift this.
“So an area like semiconductors was up close to one hundred percent before we saw a little bit of a pullback twenty percent type of correction. But we thought that was healthy. It was a good reset. Semis are still up sixty seventy percent this year, so not a concerning year to date number by any means.”
“The AI trade not at its last innings, but maybe in even the middle innings of the cycle. And so we're hopeful that's the direct of travel and you get some opportunities in those lagging parts of the market.”