Lin Rongxiong: Big Drop Today! Are We All Waiting for the Second Top of AI Tech?

English summary

[Lin Rongxiong: Big Drop Today! Are We All Waiting for the Second Top of AI Tech?] Over the past two months, feedback from roadshows regarding the tech M-top: from the initial "the leading stock has not yet overdrawn earnings for more than 2 years" to late June "the rotation from high to low has indeed begun", then early July "has the first top arrived?", and mid-July "the first top is clear, waiting for the second top, right?", until after the big drop on July 17, asking "it won't crash directly, will it?", and finally after today's another big drop, we received this: "even if we die, we die in tech." Originally, our SDIC Strategy team launched the "Tech Sell Point" series of research in late May, intending to lead the market discussion forward: first, to warn that AI tech is gradually becoming overheated; second, to lean towards a left-side phased switch from high to low. With the sudden changes in July, in just one month, it was unexpectedly so brutal that panic spread from the tech M-top to "bull to bear". ...