Yun Jui Tsai @YunRueiTsai: "@YunRueiTsai 2026 YTD Return: +42.42% Weekly review: Key..."

Taiwan

@YunRueiTsai 2026 YTD Return: +42.42% Weekly review: Key data this week: $QQQ (Invesco QQQ): about +3% WTD $SPY (State Street SPDR S&P 500 ETF): about +2% WTD $SOXX (iShares Semiconductor ETF ): strong early week, then a sharp pullback SOX Q2: +87.75%, the strongest quarterly gain on record AI hardware is not dead. It was just too crowded. The key trigger this week was Meta. After reports that $META (Meta Platforms Inc) may sell excess AI compute to external customers, the market started asking: Is AI compute supply catching up with demand? That question hit the most crowded AI hardware trades. Wednesday weakness: $MU (Micron Technology, Inc.), $SNDK (Sandisk Corp/DE): about -10% $WDC (Western Digital Corporation): about -6% $STX: about -5% $KLAC (KLA Corp): about -8% $LRCX (Lam Research Corp): about -7% $AMAT (Applied Materials Inc): about -6% $ASML (ASML Holding NV): about -4% But this does not mean the AI thesis is broken. It looks more like profit-taking in the most crowded winners. At the same time, money started moving into a different part of tech. Stronger themes this week: $CRWD (Crowdstrike Holdings): about +4% $PANW (Palo Alto Networks): about +7% $NET (Cloudflare): about +6% $SNOW (Snowflake Inc.): about +10% $ZS (Zscaler Inc): about +4% Software and cybersecurity are starting to attract capital again. The market used to worry that AI would hurt SaaS. Now investors are asking a different question: Could AI actually increase demand for data, cloud, and cybersecurity? My view this week: Money is not leaving AI. It is rotating from overheated AI hardware into other AI-related supply chains. Current rotation map: Software / cybersecurity Passive components / MLCC 800VDC / power infrastructure $TSM (Taiwan Semiconductor Manufacturing Co Ltd - ADR) / advanced process leaders Memory / equipment entering consolidation I have also adjusted my portfolio based on these signals. A pullback is not scary. The real risk is knowing your portfolio is too crowded or too concentrated, but refusing to adjust. For followers and copiers, portfolio adjustments can create friction costs during an uptrend. That is normal. The goal is not perfect timing. The goal is to keep improving the portfolio step by step, manage risk, and continue working toward this year's target.

Not investment advice. The author may have financial interests in the mentioned instruments.

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