What are the differences between the U.S. stock market and the domestic market?

Just some scattered thoughts. Recently, I've been buying another 3,000 shares of SMH, with an average price approaching $550.
Why keep buying?
The reason for buying is actually very simple.
We can't really be sure who will be the biggest winner in the AI era over the next five years.
But I believe that whether it's large models, AI agents, or new applications that have yet to emerge, they all rely on computing power.
And behind computing power are chips, semiconductors, and infrastructure.
Instead of betting on a single star company,
it's better to directly invest in the entire semiconductor supply chain.
Is the current average price of $550 a peak?
No one knows.
I wouldn't be surprised if it drops 20%, 30%, 50%, or even more in the future.
But if we look back 10 years from now,
and the global demand for computing power is 10 times or 100 times what it is today,
then worrying about whether it's $550 or $250 now might just be noise.
Don't try to call the top, don't try to catch the bottom.
Only invest in long-term trends that you can understand.