---
title: "A top strategist says this market is flying on one engine. He thinks it could stall"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296232292.md"
description: "JonesTrading strategist Mike O’Rourke warns the market relies heavily on AI, likening it to a plane flying on one engine. He argues that while AI technology is strong, valuations for names like Palantir are stretched. A potential stall in AI-driven gains could trigger a wealth effect reversal, negatively impacting consumer stocks and automakers already facing weak sentiment and rising costs."
datetime: "2026-08-18T13:00:41.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296232292.md)
  - [en](https://longbridge.com/en/news/296232292.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296232292.md)
---

# A top strategist says this market is flying on one engine. He thinks it could stall

Quick ReadMike O'Rourke calls this a market flying on one AI engine, with NVIDIA defensible at 45x but Palantir dangerously stretched at 246x earnings.Target's comparable sales fell 3% and Ford absorbed $3 billion in headwinds, leaving both vulnerable to a double hit if AI-driven wealth evaporates.Lee Baker warns bond markets signal danger while eq...

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## Related News & Research

- [Gallagher Capital Advisors LLC Has $1.41 Million Stock Holdings in Palantir Technologies Inc. $PLTR](https://longbridge.com/en/news/296319209.md)
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- [PRESS DIGEST-Financial Times - August 10](https://longbridge.com/en/news/295356345.md)