The strategist known for his bearish calls in recent years says a major collapse is unlikely.
The company said chipmaker losses caused a downdraft that will be short-lived.
A rising number of Wall Street pros have begun to grow cautious heading into the third quarter.
The move follows a disastrous two-year stretch of stock-market calls by Kolanovic.
Big Tech should continue dominating the market even if profits slow, he said.
Stifel's Barry Bannister thinks the index could shed a fifth of its value by mid-2026.
The firm expects "healthy earnings growth" as the Fed ends its money-tightening campaign.
Citi says stock gains could move beyond the megacap tech names.
The senior portfolio manager says investors still have cash to put to work.
The firm's chief US equity strategist predicted “roughly a flat return from now until the end of the year.”
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