Wall Street Splits on Chip Stocks as Megacap Earnings Loom

On July 16, 2026, JPMorgan told the WSJ chip stocks face a "summer buying opportunity." Same day, Morgan Stanley told the WSJ semiconductors face "a hard remainder of 2026." The divide hits as megacap earnings begin, with the Philadelphia Semiconductor Index up roughly 65% year-to-date versus the S&P 500's 9%.