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Sell the Chips, Buy the Hyperscalers: Is Morgan Stanley's Rotation Call Real?
Morgan Stanley's Mike Wilson is telling clients to get out of chip stocks and rotate into the hyperscalers. This morning I walk through whether this rotation is real or just too soon to call. Semis are getting whacked today with Micron, AMD, Broadcom, and Nvidia all selling off, and even Caterpillar and Lam Research are getting hit after their huge runs. Meanwhile financials, transports, healthcare, and biotech are hitting all time highs, with names like Travelers Insurance, Union Pacific, and Eli Lilly ripping. Wilson thinks semis just need a breather and it is the hyperscalers turn to lead…
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