Goldman Sachs Partner Mark Wilson maintained a bullish stance on US stocks in his latest report, forecasting that the market still has room to rise before year-end, and advising investors not to fight the market's high degree of concentration. However, several strategists at Goldman Sachs itself, as well as at Morgan Stanley and Bank of America, have raised objections, warning that risks are building up in the US stock market. Goldman strategist Ben Snider pointed out that the S&P 500's earnings-per-share (EPS) growth is projected to reach 27% this quarter, but the top ten contributors will account for 68% of that growth, with Micron Technology and NVIDIA alone contributing 34%. According to Nomura Securities data, 85% of S&P 500 constituents have fallen more than 10% from their respective highs, while 59% have dropped more than 20%. Morgan Stanley strategist Mike Wilson previously warned that the S&P 500 could fall 10% to 7,100 points, while Bank of America strategist Michael Hartnett disclosed that money market funds saw net inflows of $166.4 billion in the week through October 7 — the largest single-week inflow since April 2020.