JPMorgan Says Buy Chips This Summer; Morgan Stanley Says the Hard Part Is Ahead

On July 16, 2026, JPMorgan told the WSJ a "summer buying opportunity" is coming for chip stocks. The same day, Morgan Stanley told the WSJ the semiconductor sector faces "a hard remainder of 2026." The split lands as megacap earnings reports begin — and with the Philadelphia Semiconductor Index up roughly 65% year-to-date versus the S&P 500's 9%, the stakes are concentrated.