JPMorgan: The U.S. stock market “Magnificent Seven” and the storage sector are expected to continue rising.

格隆汇 June 2｜On Monday Eastern Time, JPMorgan maintained its optimistic view on the U.S. stock "Magnificent Seven" in a report to clients, stating that after a correction earlier this year, the "Magnificent Seven" still have room for further price increases. JPMorgan analyst Mislav Matejka said that since late March this year, JPMorgan has been advising clients to buy stocks during market downturns and remains bullish on the future performance of the "Magnificent Seven". At the end of March this year, the U.S. stock market suffered a collective decline as the Iran war caused international oil prices to surge, with the "Magnificent Seven" falling to stage lows. However, since then, the "Magnificent Seven" have generally rebounded, with Apple, Google, Amazon, and NVIDIA shares hitting new all-time highs once again. Although underlying risks in the Middle East still need attention, JPMorgan believes that the earnings of the "Magnificent Seven" are sufficient to support the price rebound, and noted that the valuations of the "Magnificent Seven" fell to the lowest point in the past ten years in March, creating significant room for a rebound. In addition to the "Magnificent Seven," JPMorgan also pointed out that the storage sector in emerging markets is another field with sustained upward momentum, noting that "before early 2028, the storage market is not expected to see large-scale supply increases." In a previous report, JPMorgan noted that driven by structural AI demand, the global storage chip industry is experiencing the strongest and longest-lasting upward cycle in its history, and the valuation of top memory manufacturers is seeing unprecedented growth.