Investors should be buying on this weakness, says BofA's Chris Hyzy

Market Analysis & Strategy - The market experienced seasonal choppiness, prompting a debate on whether it's a healthy reset or a sign of fragility [1][2] - The current market weakness is viewed as a buying opportunity, contingent on continued profit growth for the remainder of the year and into next year [5] - Consensus earnings forecasts have been inching up, providing support to the market [6] AI Theme & Tech Sector - There's a reevaluation of the AI theme, questioning if companies have been over-credited prematurely [6] - Despite recent negative headlines, the capex story for generative AI is still growing, with hyperscalers increasing their investments [8][9] - AI-related stocks are expected to remain leaders in the market as long as the earnings and capex stories continue to grow [10] Economic Indicators & Sector Rotation - Small caps have shown better performance recently, particularly in the industrial sector, driven by improving news in manufacturing [12][13] - A rotation or rebalancing in the market can continue even if tech remains a cornerstone leader [13][14]