The "AI slowdown theory" collides with the 5% "anchor of global asset pricing," and tech risk surges! Wells Fargo redraws the U.S. stock investment landscape, downgrading its S&P 500 target.

According to Zhitong Finance APP, U.S. stocks and even global stock markets appear to be undergoing a stress test of whether an "AI boom-driven earnings growth trajectory can withstand valuation compression," with the semiconductor sector bearing the initial impact. Ohsung Kwon, chief equity strategist at Wall Street financial giant Wells Fargo, lowered his year-end target for the S&P 500 to 7,700 points from 7,950 points, leaving only about 1.1% upside compared with Monday's U.S. stock market close, and downgraded the technology sector to "equal-weight" from his previous "overweight" rating. The Wall Street giant now prefers software, which benefits from the AI application wave, over the currently hottest semiconductors, and raised its rating on the defensive healthcare sector.