UBS Scales Back Semiconductor and Hardware Weighting in AI Strategy After Rally
UBS has trimmed its combined semiconductor and hardware allocation within its AI-focused investment strategy to roughly 61% from about 76%, selling into a rally led by Micron that pushed the SOXX index up 4% in one session and 10% in June. The bank reallocated capital into defensive parts of the AI ecosystem, and reiterated that medium-term AI dema…