| June 2026 |
| Summary |
Markets continued to rise in May, supported by strong earnings from AI and semiconductor companies and lower oil prices, which reduced inflation concerns. The main message of this month’s commentary is that investors should avoid selling their best-performing stocks too early, as a small number of exceptional companies generate most long-term market returns. While some investors worry about a semiconductor bubble, Elgin believes leading companies such as Nvidia, Broadcom and Micron remain supported by strong earnings growth and increasing AI-related spending by major technology firms.
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