On October 26, Morgan Stanley indicated that the pressure bearing down on semiconductor stocks could subside in the coming month. The team of strategists, headed by Mike Wilson, reiterated their projection for the S&P 500 index to hit 8,000 points by year's end. Simultaneously, they highlighted that semiconductor stocks, as a pivotal sector, might encounter support at levels notably lower than their current standing. The strategist group observed that as the market casts doubt on the timing and magnitude of revenue prospects spurred by AI, semiconductors and other industries reaping the benefits of capital expenditures are coming under the spotlight of financing apprehensions. Given the likelihood of increased financing activities ahead, the team deemed it natural for the market to zero in on supply pressures, and these concerns might linger until the financing wraps up. They expressed that the silver lining is that the correction in the semiconductor sector has reached its "last phase" and is anticipated to wrap up by mid-November. The downside, however, is that, based on technical analysis and a comparison with the silver market, the sector could still experience a 10% to 15% drop, with the Philadelphia Semiconductor Index possibly tumbling to around 9,500 points in the future.