2023-07-23 07:00:05
The AI theme has fueled the bullish momentum in the stock market. The market is worried about whether the AI theme will be overheated. However, the legal person believes that the AI server supply chain will continue to play a leading role, and is optimistic that the operation in the second half of the year will be significantly better than the first half of the year, which will help push the industry back to the growth track. It is estimated that the proportion of the future AI server output value will increase to 20% in 2025.
The U.S. inflation data has depressurized, and the market expects the Federal Reserve’s attitude to “turn from hawk to dove”. It is expected that as the global supply chain normalizes, commodity prices stabilize, and consumer demand shifts from goods to services, the pressure on manufacturing inflation will be reduced, which will be beneficial to the performance of the stock market.
Xie Wenxiong, manager of Nomura e-Technology Fund, said, “In the past, it was said that an apple saved Taiwan; now it is said that a graphics card can overturn Taiwan.” Nvidia, which started out as a GPU, leads the industry in AI chip research and development. More than 80% of the global AI chip market is controlled by Nvidia, which is currently a minority of bright spots.
Last week, Huida’s stock price hit a record high again, and AI concept stocks continued to burn, which also drove the performance of Taiwan-related stocks. The legal person believes that as the U.S. stock earnings season is about to start, Taiwan stocks will continue to review their first-half financial reports, which can be a good time to screen for AI targets.
Nomura Investment Trust pointed out that Taiwan stocks have become Asian stocks second only to Japanese stocks this year. After the AI wave pushed up the stock price, the current price-to-earnings ratio has reached about 17 times, which is near the lower edge of the 5-year and 10-year averages. The evaluation is still reasonable.
Nomura Investment Trust said that considering that the valuation has a chance to recover after the stop of the interest rate hike cycle, there is still a chance to increase the evaluation of Taiwan stocks. In the future, driven by AI, these important upstream, midstream and downstream manufacturers in Taiwan will play a more important role. Driven by the dual engines of evaluation and profit, it is expected that Taiwan stocks will have a long period of bullish prospects in the future.
Prudential said that medical biochemistry is also a key beneficiary industry of AI development, and it is also the target of active cooperation with major technology companies. For example, Huida has invested US$50 million in the development of AI drug discovery models under Recursion, a biotechnology company, in order to deepen the AI field.
In addition, Huida is expected to launch the generative AI cloud service “BioNeMo” for drug discovery before the end of the year to provide to biotech companies using Huida’s cloud service.
Jiang Yiqian, manager of PGIM Prudential’s global medical biochemical fund, pointed out that the medical industry is definitely an important field for AI applications in the future. Therefore, such as Huida and other high-tech companies that are highly developed in the AI industry are investing in related fields first. However, the current stock prices of medical companies do not fully reflect the value of AI applications. S&P500 The medical industry index relative to S&P500 The P/E ratio of the broader market is currently at a 5% discount.
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