Top JPMorgan Strategist Michael Cembalest Is "Cautious" on AI Stocks. Should You Change Your Investments?

JPMorgan strategist Michael Cembalest warns of concerning trends in the AI market, noting that semiconductor stocks have significantly outperformed AI hyperscalers like Alphabet, Amazon, Meta, Microsoft, and Oracle. This pattern mirrors the dot-com bubble of 1999-2000, suggesting potential market vulnerability. The article recommends diversifying into international ETFs, particularly those with lower exposure to AI-related stocks.