JPMorgan says markets may face a correction in late summer or early autumn even as major stock indexes remain in an uptrend. The bank points to deteriorating market internals, a shift toward defensive assets and weakening investor confidence in artificial-intelligence stocks. Strategist Jason Hunter says the current AI trade resembles the 1999-2000 technology bubble, with concentrated technology exposure increasing adjustment risks. JPMorgan also identifies rising U.S. Treasury yields, tensions in the Middle East and slowing consumer spending as potential sources of pressure. The bank continues to see long-term growth potential in the AI investment cycle, but says valuations, crowded positioning and investor expectations could drive greater short-term volatility in technology stocks.