On June 11, US stocks experienced a brief rally at the beginning of June but have since declined, with the S&P 500 index falling nearly 5% since reaching a high of 7620 on the 2nd. Amid ongoing market corrections, investors are beginning to waver in their belief in the 'eternal bull market' of US stocks. In light of this, here are the analyst perspectives on the June market compiled by BlockBeats: The well-known research program Foundation for the Study of Cycles (FSC) pointed out in its latest podcast that as of around June 8, 2026, several medium to short-term cycles of major US stock indices are highly synchronized, forming a top cluster. We are currently in a significant top alignment window, indicating that starting from June, there will be downward pressure from late summer to autumn (until October-November), particularly in the technology and semiconductor sectors, which are showing the strongest synchronization. There is also a technical divergence in the Cyclic RSI, leading to an overall recommendation to remain cautious in the short term, as there may be fluctuations or corrections; however, the financial sector is one of the few that still maintains a bullish cycle. Morgan Stanley published a mid-term market report in mid-May, stating that driven by strong earnings growth, the US stock market is expected to lead global markets upward, with the S&P 500 index likely to rise by 12% over the next 12 months. However, the report also cautioned that as companies raise more debt for artificial intelligence expenditures, the increased supply in the corporate bond market may put pressure on credit performance. At the same time, expectations of slowing inflation and declining US interest rates will put pressure on the dollar in the coming months, but recovery may begin in 2027. Fidelity's research noted that recent geopolitical conflicts, rising oil prices, and hotter-than-expected inflation data have led to rising yields, triggering a pullback in technology stocks and indices. The S&P 500 and Nasdaq have seen significant declines, with the semiconductor and AI-related sectors under pressure. The VIX volatility index has risen, and considering the historical performance of US stocks in June has been lackluster, the current situation can still be viewed as normal profit-taking or seasonal adjustment. Notable US stock influencer Herman Jin continues to warn about the low PE bubble risk in the semiconductor sector during the AI bull market. He cautioned that the current market's optimistic pricing of model revenues matching capital expenditures is unrealistic, and short-term diversified models may erode growth expectations, ultimately reshaping the industry through cost pressures and exacerbating wealth concentration.