Svmuu News Morgan Stanley strategists stated that the sell-off in U.S. stocks last Friday due to position adjustments is a healthy correction. The team led by Mike Wilson pointed out in their research report that this decline was led by the semiconductor and memory sectors, which have seen significant gains this year. At the same time, concentrated holdings by hedge funds and leveraged exchange-traded funds have led to a continuous accumulation of risk. The team believes that if this bull market continues until the end of the year, market adjustments are unavoidable and are positive in the long run. The strategists maintain a base target of 8,000 points for the S&P 500 index, which still has about 8% upside from current levels. They also expect corporate earnings to continue strengthening, growth coverage to further expand, and macroeconomic data will continue to provide support for the market.