JPMorgan: Retail Investors Sell Off Tech ETFs, Buy Individual Semiconductor Stocks Against the Trend

JPMorgan notes that retail investors have lost confidence in tech ETFs, but their buying of individual semiconductor stocks runs counter to institutional positioning, with semiconductor crowding at the 96.1th percentile. Over the next seven days of earnings season, 62 S&P 500 companies will report results, accounting for 14% of market capitalization, concentrated in the financial and industrial sectors.