Julian Emanuel Remains Bullish as Tech Selloff Deepens

Summary

Julian Emanuel of Evercore ISI remains bullish on US equities despite a deepening tech selloff, reiterating an S&P 500 target of 9,000. He argues that skepticism and a shifting wall of worry create a contrarian opportunity, and that mega-cap tech names like Microsoft and Meta, which are in bear markets, will recover as earnings catch up with prices.

• Julian Emanuel maintains a bullish outlook on the S&P 500 with a 9,000 price target.
• He views the current tech selloff and investor skepticism as a contrarian setup similar to early 2026.
• The 'wall of worry' is shifting from high oil prices to concerns over supply and transparency.
• Microsoft and Meta are cited as Mag 7 names deep in bear markets, poised to advance as earnings and valuations realign.
• Chip stocks have carried the market but a recovery in larger mega-cap names is needed for further index gains.
• The strategic call remains steadfastly bullish despite the ongoing selloff.