Bank of America strategist warns S&P 500 record highs echo dot-com bubble pattern

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Summary · why it matters

Bank of America strategist Michael Hartnett warned that the S&P 500's recent record highs show a pattern similar to the 2000 dot-com bubble. In a late May research note, Hartnett observed that 20 S&P 500 stocks closed at record highs on May 29, and of those, only seven have no direct ties to artificial intelligence. He noted that at the top of the dot-com bubble in March 2000, just 20 stocks also hit new all-time highs. Hartnett advised clients to adopt a more defensive position, recommending long bonds and a combination of defensive sectors or those that dramatically underperformed in the final months of a bubble.

Impact on stocks 3

Semiconductors▼ · 1 stocks
SK Hynix Inc
000660
▼ NegativeCapitalrelevance

Strategist warns S&P 500 record highs echo dot-com bubble, advising defensive positioning; AI-exposed stocks like SK Hynix may be vulnerable to a correction.

Artificial Intelligence▼ · 1 stocks
Advanced Micro Devices Inc
AMD
▼ NegativeCapitalrelevance

Strategist warns S&P 500 record highs echo dot-com bubble, advising defensive positioning; AI-exposed stocks like AMD may be vulnerable to a correction.

Financials▲ · 1 stocks
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