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Senior analysts from Freedom Capital Markets, the US institutional research arm of Freedom Holding Corp., appeared on Schwab Network and CNBC over the past week. They offered views on where the US market goes next, covering semiconductors, mega-cap tech and the macro catalysts. - Jay Woods, Chief Market Strategist at Freedom Capital Markets and NYSE insider in Schwab Network: an imminent pullback in sight Six straight weeks of gains have left the S&P 500 and Nasdaq looking historically stretched, with the semiconductor index now sitting more than 57% above its 200-day moving average. Jay's read is that a correction is overdue but does not change the bigger picture: "Pullback is pretty much imminent. Does not mean the end of the run. It could be a viable dip, but this dip could make headlines the other way." What he wants to see is rotation, with industrials and healthcare providers as the most credible candidates to take leadership from the semiconductor names that have led the run. Among the lagging tech generals, Microsoft is the name he is watching most closely. As he put it: "There is money to be made as we get to that level, but it is still a beaten down name that has not shown that it's back to a nice uptrend and a reversal." Meta sits in a similar position. On earnings, he treats Cisco as a name to buy on weakness and is more cautious on Intel, calling it "Mentos into the Diet Coke froth" as the rally turns parabolic and advising current holders to take profits. Watch the full video: Schwab Network - Paul Meeks, Head of Technology Research at Freedom Capital Markets in CNBC: AI infrastructure narrative back in force 💻 AMD's latest earnings have given the semiconductor trade fresh momentum, reviving a sector narrative that had been under pressure earlier in the year. Paul sees two growth stories converging at the company: "They'll be a strong number two in the race for GPUs. But there's also been a renaissance in the data center of their CPU business, which in the past had been essentially the brains for the laptops and desktops. And it was a pretty mature market. And now, again, an acceleration of growth." On the broader sentiment shift across the sector, his framing is that the period of scepticism around AI capex in 2025 has given way to a renewed AI infrastructure trade: "The narrative has gone back to build it and they will come. Very positive for all the players in the AI infrastructure ecosystem." Watch the full video: Paul Meeks in CNBC - Jay Woods, Chief Market Strategist at Freedom Capital Markets and NYSE insider in CNBC Pro: the week ahead 📅 In a separate CNBC Pro segment, Jay maps out what to watch in the coming days: US-Iran negotiations, April inflation data, earnings season, and more. Watch the full video: CNBC Pro