Victor Dergunov

The S&P 500 rally is highly concentrated in AI-related stocks, with 85% of gains driven by a handful of hyperscalers.

Summary CrowdStrike (CRWD) has rebounded sharply from panic-driven lows but is now extremely overbought and overvalued.

Summary AI-driven stocks, especially major S&P 500 tech names, have surged to extreme valuations, with the index up 20% in two months.

Marvell (MRVL) surged 385% on AI datacenter hype, but high P/E and RSI 88 signal overvaluation and correction risk.

Summary I see the current AI-driven rally as the most significant bubble in market history, with parabolic moves in stocks like Micron, SanDisk, Dell, Marvell, and many others.

Summary I maintain my S&P 500 year-end 2026 target at 8,000, with a bullish scenario up to 8,200, driven by continued AI momentum.

Summary My All-Weather Portfolio underperformed in Q2 2026, returning 2.35% vs. the S&P 500's 15% and Nasdaq's 20%-plus.

Summary My All-Weather Portfolio underperformed in Q2 2026, returning 2.35% vs. the S&P 500's 15% and Nasdaq's 20%-plus.

Summary Tesla, Inc. remains my top long-term holding, driven by dominant Q2 deliveries and a robust multi-segment ecosystem.

Summary Micron (MU) delivered blockbuster earnings and guidance, yet its stock declined sharply post-report due to unsustainable 86% gross margins and AI-driven memory price inflation.