According to CNBC, Jefferies analyst Desh Peramunetilleke said volatility in the AI theme has jumped on concerns about hyperscaler ROI versus potential overcapacity, elevated expectations, large fund-raisings and extreme positioning, and he expects those factors could unwind AI-led momentum. He said he prefers low-volatility stocks with high dividends or free-cash-flow yields as a hedge against a sharp correction, screening U.S. companies with market caps above $10 billion in the bottom quintile of volatility, a 12-month forward dividend yield above 3% or a free cash flow yield above 3% over the last 12 months, and positive or flat 2026 estimated EPS revisions over the last three months. Names highlighted included Procter & Gamble with a 3% 12-month forward dividend yield and fiscal fourth-quarter earnings due July 29; Pfizer with a 6.9% forward dividend yield and results expected Aug. 4, after the FDA approved its Padcev and Keytruda combination for muscle-invasive bladder cancer and after an experimental lung cancer drug missed a late-stage trial endpoint; Simon Property Group with a 4.30% forward dividend yield, up 18% in 2026, after raising full-year guidance and its quarterly dividend; and KeyCorp with a 3.8% forward dividend yield, up about 12% year to date, with second-quarter earnings due July 21.