JPMorgan Chase, after analyzing the latest stock market developments, stated:
1. In the short term, the focus on technology stocks has shifted back to AI infrastructure and supply-constrained sectors. The leading sectors in the technology sector will be broader and more diversified than in the first half of 2026.
2. The recent market rebound was driven by increased overall portfolio allocation and accelerated competition in cutting-edge models following Astra, while the industry fundamentals remain healthy.
3. In the Asian semiconductor sector, advanced process capacity shortages remain a major bottleneck and may worsen further in 2027. Investment in advanced packaging is expanding, with CoWoS being a key focus in 2027 and SoIC in 2028. Market interest in CPO is high, but the testing process remains unclear. Equipment suppliers and market share at different testing stages are key areas of investor focus. (These views are from JPMorgan Chase's September 9th report.)
