Yun Jui Tsai @YunRueiTsai: "@YunRueiTsai 2026 YTD Return: +42.97%..."

Taiwan

@YunRueiTsai 2026 YTD Return: +42.97% Return 2Y :206.78% Weekly Portfolio Review This week, I noticed an important rotation inside the semiconductor market. The strongest names were not NVDA, AVGO, AMD, or $MRVL (Marvell Technology Group Ltd) The real strength came from semiconductor equipment stocks. WTD performance: $QQQ (Invesco QQQ) +0.15% $SPX500 -0.20% $SMH (VanEck Vectors Semiconductor ETF) +1.89% But equipment stocks were much stronger: $KLAC (KLA Corp) +14.4% $AMAT (Applied Materials Inc) +12.3% $LRCX (Lam Research Corp) +11.7% $ASML (ASML Holding NV) +8.6% The most important signal was not only the rebound. It was the downside test. On 6/10, when QQQ fell -2.00% and SMH fell -3.40%, many equipment names held up much better: KLAC: -0.17% AMAT: -0.44% LRCX: -1.64% ASML: -2.45% That tells me equipment stocks were not just bouncing from weakness. They showed relative strength during market pressure. My view: AI infrastructure may be entering the next stage. The first stage was GPU. Then memory, networking, and optical communication became important. Now the market may be starting to price in semiconductor equipment. Why? Because AI capex is not only about buying chips. To build more AI chips, the industry also needs more advanced manufacturing, process control, memory capacity, advanced packaging, and fab equipment. This is where companies like KLAC, AMAT, LRCX, and ASML become important. I am adding semiconductor equipment to my next-theme watchlist. The key lesson this week: When the market becomes volatile, leadership matters more than headlines. If a stock or sector can stay strong on a bad market day, it deserves attention. For now, I will watch for: 1. Pullback quality 2. Volume contraction 3. Whether equipment stocks stay stronger than SMH 4. Whether they form a healthy base instead of going vertical Do you think semiconductor equipment could become the next major AI infrastructure theme?

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