The Kobeissi Letter: Chip stocks become new driving force for US stock bull market, S&P 500 is expected to break through 8000 points

According to The Kobeissi Letter, chip stocks have become the new leading sector in this bull market, and the S&P 500 index is preparing to break through 8000 points. Among the top 10 stocks in the S&P 500 index this year, 8 are from the chip industry. This is the first time since 2022 that the market has risen under the leadership of sectors other than the "Big Seven" of the US stock market, while the "Big Seven" of the US stock market has shown the opposite trend. As technology stocks regain their leadership position and semiconductors continue to outperform or cool down, the S&P 500 is expected to rise above 8000 points.