Gareth Soloway of Verified Investing believes Treasury yields are experiencing a near-term top and will move back down to 5% or just above it. However, he argues the AI trade is "collapsing" as investors rotate out of AI memory stocks like Micron (MU), SanDisk (SNDK), and Western Digital (WDC) among others as competition in China from companies like CXMT rises. Gareth sees this pressure hitting the S&P 500 (SPX), which he expects to reach 8,000 before the index sees profound resistance.