On Friday, Nasdaq plummeted 4%. Many people couldn't sleep at night. Everyone is not very optimistic about June, including me. But I believe that the pullback in June is an opportunity for those who haven't bought in to add positions, not a sign of a market reversal.


The fundamentals of AI haven't changed. But if we define the timing of this wave of AI, I think we are already between the mid-term and late-stage.
The landmark event is Google's equity issuance to invest in AI. Looking at the big tech giants' 2026 CapEx, they have already used up almost all of their free cash flow. This means that next year's CapEx expansion will no longer be determined solely by the giants' subjective will. If they continue to expand, they will have to adopt more aggressive strategies, either issuing debt or raising equity. There is a very high chance that the peak of CapEx will occur around 2027-2028.
The giants' CapEx spending is a leading indicator watched by the entire market, so by the time the peak appears, it might be too late. Perhaps in 2027, everyone will start rushing ahead.
2027 is too far away, but luckily, this year is 2026. I think if there is a deep correction in the next month, it will be the best opportunity this year to go all-in.
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