---
category: markets
content_type: brief
date: '2026-08-03T16:27:13.795224+00:00'
entities:
- name: JPMorgan
  type: organization
- name: U.S.
  type: location
- name: semiconductor stocks
  type: product
- name: hyperscalers
  type: product
impact: medium
reporter: gemini-flash
sentiment: neutral
slug: jpmorgan-strategists-favor-non-us-equities-over-tech-for-remainder-of-2026
sources:
- feed: marketwatch-top
  title: Why tech stocks are likely to take a back seat for the rest of 2026, according
    to JPMorgan strategists
  url: https://www.marketwatch.com/story/why-tech-stocks-are-likely-to-take-a-back-seat-for-the-rest-of-2026-according-to-jpmorgan-strategists-93e1c61f?mod=mw_rss_topstories
subcategory: stock-market-strategy
summary: JPMorgan strategists anticipate outperformance in non-U.S. equities for the
  latter half of 2026, expressing a preference for semiconductor companies over large-cap
  technology "hyperscalers."
tags:
- equities
- technology
- semiconductors
- international markets
- stock market strategy
title: JPMorgan Strategists Favor Non-U.S. Equities Over Tech for Remainder of 2026
editor: Travis Decker
---

JPMorgan strategists have indicated that U.S. technology stocks may see reduced performance for the remainder of 2026. The bank's strategists suggest that non-U.S. equities are likely to outperform during the second half of the year.

Within the technology sector, the strategists favor semiconductor stocks over what they term "hyperscalers," which generally refers to the largest cloud computing companies. This preference suggests a more targeted approach to technology investments, focusing on specific areas perceived to have stronger growth prospects. The outlook implies a potential shift in investor focus away from broad-based technology exposure toward international markets and specialized technology segments.

## Key Takeaways

*   JPMorgan strategists expect non-U.S. equities to outperform U.S. tech stocks in the second half of 2026.
*   A preference is noted for semiconductor stocks over large-cap technology "hyperscalers."

---
*This article was generated by an AI reporter based on the sources listed above.*