War wrong killing gives birth to gold mine! Wall Street sounds the horn of technological counterattack, will the "AI computing power team" take the lead in advancing?

From the stock strategy team of the Wall Street financial giant Goldman Sachs Group, Inc., it is stated that with global tech stock valuations falling below the valuation measure level of the MSCI global stock market benchmark index, the tech sector is becoming increasingly attractive to investors. Recently, Goldman Sachs Group, Inc. has shifted its overall stance from cautious to bullish on the future trends of the stock market. A fund flow research report from Goldman Sachs Group, Inc. on Monday showed that systematic selling pressure leading the decline is diminishing, with a high probability that "fast money" funds (large-scale funds around CTA strategies) will switch from passive reducing to net buying in the next month. This means that the mechanical selling pressure that has been suppressing the market is gradually turning into favorable factors supporting a rebound. Led by Peter Oppenheimer, the Goldman Sachs Group, Inc. strategy team stated in a research report on Tuesday that in the wake of the recent Middle East political storm affecting the GEO Group Inc., the tech sector, which has seen significant growth in recent years and valuations reaching historic highs, has recently underperformed in terms of stock performance. However, after experiencing a decline in valuations caused by the GEO Group Inc. political conflict, the tech sector is now starting to present very attractive long-term investment opportunities for investors. Oppenheimer and other strategists wrote, "Compared to the consistent profit growth expected by Wall Street analysts, its valuation has fallen below the level of the global overall stock market." At the beginning of this week, a research report released by the trading team of Goldman Sachs Group, Inc. on Monday stated, "One of the most important market margin changes is evolving positively towards the bullish side." The bullish logic of the Goldman Sachs Group, Inc. strategy team led by Oppenheimer is based on a bullish view on valuations and long-term allocations emphasizing that global tech stocks have become cheaper and more attractive after experiencing a pullback in growth prospects. Meanwhile, this systematic fund research is bullish on a trading level and short-term framework emphasizing that once the rebound continues, "fast money" funds such as CTA and volatility target strategies are likely to buy further, thereby amplifying the upward slope. So, the former view is more like the perspective of the Wall Street "Asset Allocation Committee," while the latter is more like the latest perspective of the "Tactical Trading Desk." Within the tech sector, stocks directly related to AI computing infrastructure, such as NVIDIA Corporation, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR, AMD, and the "AI Computing Super Team" led by Broadcom Inc., are often the most sensitive, first movers, and have the largest upward movements in both the overall market and tech stocks rebound logic. The core logic behind this can be considered extremely "hard-core": this layer is directly tied to the record-breaking AI capital expenditures of tech giants, rather than just storytelling. According to the latest analyst expectations compiled by institutions, Amazon.com, Inc. along with Alphabet Inc. Class C parent company Alphabet, Meta Platforms Inc., Oracle Corporation, and Microsoft Corporation are expected to reach cumulative AI-related capital expenditures of approximately $650 billion by 2026, with some analysts believing that the total expenditure could exceed $700 billion. This implies that the year-over-year growth rate of AI capital expenditure could exceed 70%. Global tech stocks are brewing a new round of upward trends The trading team of Goldman Sachs Group, Inc. sees significant signs of buying on the dips in the global stock market, particularly in short-term "fast money" fund flows. At the level of medium and long-term asset allocation, the strategy team led by Oppenheimer at Goldman Sachs Group, Inc. believes that tech stocks themselves now have very solid valuation appeal. In a recent research report, Oppenheimer, a senior strategist at Goldman Sachs Group, Inc., stated that if the Iran war has any lasting impact on the global economy, it could potentially benefit this sector in the long run, as the cash flow of the tech industry is less sensitive to economic growth. Oppenheimer and other analysts emphasize that with valuations below the overall stock market, the tech industry is becoming increasingly attractive to investors. Since October last year, the overall stock prices and valuations of global tech companies have reached record highs, driven by the unprecedented wave of revenue and profit growth based on AI data center construction, a surge in capital inflows, and their long-standing dominant positions in the forefront of the AI tech market. Since then, market concerns over the rapid expansion of AI spending and the elusive revenue trajectory of AI have resulted in a pullback in stock prices and valuations in the tech sector. Note: Data has been standardized, with percentage increases based on October 7, 2025. "Wall Street veteran" Yardeni and another Wall Street financial giant Wells Fargo & Company also support the bullish view of Goldman Sachs Group, Inc., that the tech sector has gradually shifted from "overvalued crowded trades" to an interval with "attractiveness for medium- to long-term allocation." Senior strategist Ed Yardeni emphasizes that while tech stocks are still suppressed in the short term by sentiment and GEO Group Inc. disturbances, from the perspectives of profit resilience, valuation digestion, and the long-term penetration of AI, long-term funds are entering a more cost-effective positioning window. Statistical data show that the negative catalysis of AI disrupting software businesses, combined with the impact of the Iran war, has led to a 13% decline in the S&P 500 Information Technology sector (representing tech stocks in the IT sector) since reaching a historical high in October last year. During this period, the industry's profit expectations accelerated, leading to a price-earnings ratio of 20.6 times, which is essentially on par with the S&P 500's price-earnings ratio of 19.6 times. Senior strategist Oppenheimer at Goldman Sachs Group, Inc. states that investors are concerned about how much long-term potential return such massive investments will bring, as well as concerns about the disruptive impact of cutting-edge AI technologies like Claude Cowork on existing SaaS software business models. He notes that the reliance on expanding AI computing infrastructure implies that global economic growth is increasingly dependent on tangible computational assets in the real world. As investors generally expect that expenditures on power and infrastructure related to AI data center construction to support the scalability of AI computing will significantly increase, traditional economy stocks with large physical assets are being repriced. Goldman Sachs Group, Inc.'s compilation of a basket of capital-intensive "HALO" stocks including nearly all utilities and heavy asset manufacturing companies has risen by 11% so far this year. The "HALO effect" described in a recent research report by Goldman Sachs Group, Inc. is not the halo effect commonly discussed in psychology, but refers to companies with values primarily derived from highly replicable and long-lived physical assets/core equipment and capacity/manufacturing networks/infrastructure (HALO Heavy Assets, Low Obsolescence), which investors believe are not easily replaceable or "technologically obsolete." This makes them more likely to receive a "safe haven premium" in times of heightened AI anxiety when the fear of AI disrupting everything is prevalent. "These factors have opened a window of opportunity in the tech sector, where growth remains strong, but valuations have now become severely undervalued," stated Oppenheimer and other strategists. Oppenheimer added that global tech stocks have consistently delivered strong profits and have seen positive earnings revisions, while the return on equity (ROE) remains high. The strongest valuation recovery line emerges after the erroneous killings of war the "AI Computing Super Team" led by NVIDIA Corporation The Wall Street financial giant Oppenheimer recently released a research report stating that NVIDIA Corporation (NVDA.US), Broadcom Inc. (AVGO.US), Monolithic Power Systems (MPWR.US), and Marvell Technology, Inc. (MRVL.US) are still the institution's top picks in the global semiconductor sector. This Wall Street financial giant cited the logic of oversold rebound based on "earnings certainty + high beta attributes," as well as the continuous global expansion of AI spending, as core reasons for its long-term optimism in these top semiconductor stocks. Recent statements from several Wall Street senior analysts, including those at Oppenheimer, suggest that in a scenario where the global stock market enters a window of oversold rebound or when there are clear signs of easing tensions in the Middle East geopolitical situation, the most AI computing infrastructure-related chip sectors, perennial outperformers and mostly overlooked by the market, will likely become one of the core forces leading the market counterattack and valuation recovery rally, even possibly the primary engine driving a significant rebound in the Nasdaq 100 index, known as the "tech sector barometer." The subsector within the tech industry known as the "AI Computing Industry Chain" has been one of the most sensitive and rapidly responsive sectors to market rebound logic in recent years, with the most significant upward movements. This trend was fully reflected during the risk asset rebounds on March 16 and March 31. In a scenario of "risk-mitigated rebound," tech stocks closely related to AI computing infrastructure are likely to become one of the core bullish directions in the market. This potential trend also indicates that sub-races such as AI GPU/ASIC, OCS switches and optical interconnects, optical modules/silicon photonics, HBM/storage, 2.5D/3D advanced packaging, data center power chains highly tied to changes in AI capital expenditure, have the highest profit elasticity and are most likely to be prioritized for fund replenishment when risk appetite returns. As model scales, inference paths, and multimodal/agency-type Agentic AI workloads drive exponential expansion of computational resource consumption, the capital expenditure strategies of tech giants are increasingly leaning towards concentrations in AI computing infrastructure under the surge in demand for AI computing. Global investors are continuing to anchor their investment narrative on the "AI bull market" expectations surrounding NVIDIA Corporation, Alphabet Inc. Class C TPU clusters, and the new product iterations and AI computing cluster delivery expectations of AMD and Broadcom Inc. along with Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR and Micron, the leaders in AI computing. These investments are seen as one of the most certain thematic investments in the global stock market, and also signify that themes such as electricity, liquid cooling systems, and optical interconnect supply chains, closely related to AI training/inference, will continue to hold strong positions in the stock market as the Middle East geopolitical situation remains uncertain. According to the latest analyst expectations compiled by institutions, Amazon.com, Inc. along with Alphabet Inc. Class C parent company Alphabet, Meta Platforms Inc., Oracle Corporation, and Microsoft Corporation are expected to reach cumulative AI-related capital expenditures of approximately $650 billion by 2026, with some analysts believing that the total expenditure could exceed $700 billion. It is worth noting that these five major American tech giants are expected to invest approximately $1.5 trillion from 2023 to 2026 to build a massive AI computing infrastructure; in comparison, these tech giants had accumulated investments of about $600 billion throughout the historical period before 2022. As shown in the figure above, global tech stocks have been underperforming for at least the past six months concerns about extensive capital spending and stock rotation trends have led to a relative decline in tech stock valuations and prices. Note: Data has been standardized, with percentage increases based on October 7, 2025. "Wall Street veteran" Yardeni and another Wall Street financial giant Wells Fargo & Company also support the bullish view of Goldman Sachs Group, Inc., that the tech sector has gradually shifted from "overvalued crowded trades" to an interval with "attractiveness for medium- to long-term allocation." Senior strategist Ed Yardeni emphasizes that while tech stocks are still suppressed in the short term by sentiment and GEO Group Inc. disturbances, from the perspectives of profit resilience, valuation digestion, and the long-term penetration of AI, long-term funds are entering a more cost-effective positioning window. Statistical data show that the negative catalysis of AI disrupting software businesses, combined with the impact of the Iran war, has led to a 13% decline in the S&P 500 Information Technology sector (representing tech stocks in the IT sector) since reaching a historical high in October last year. During this period, the industry's profit expectations accelerated, leading to a price-earnings ratio of 20.6 times, which is essentially on par with the S&P 500's price-earnings ratio of 19.6 times. Senior strategist Oppenheimer at Goldman Sachs Group, Inc. states that investors are concerned about how much long-term potential return such massive investments will bring, as well as concerns about the disruptive impact of cutting-edge AI technologies like Claude Cowork on existing SaaS software business models. He notes that the reliance on expanding AI computing infrastructure implies that global economic growth is increasingly dependent on tangible computational assets in the real world. As investors generally expect that expenditures on power and infrastructure related to AI data center construction to support the scalability of AI computing will significantly increase, traditional economy stocks with large physical assets are being repriced. Goldman Sachs Group, Inc.'s compilation of a basket of capital-intensive "HALO" stocks including nearly all utilities and heavy asset manufacturing companies has risen by 11% so far this year. The "HALO effect" described in a recent research report by Goldman Sachs Group, Inc. is not the halo effect commonly discussed in psychology, but refers to companies with values primarily derived from highly replicable and long-lived physical assets/core equipment and capacity/manufacturing networks/infrastructure (HALO Heavy Assets, Low Obsolescence), which investors believe are not easily replaceable or "technologically obsolete." This makes them more likely to receive a "safe haven premium" in times of heightened AI anxiety when the fear of AI disrupting everything is prevalent. "These factors have opened a window of opportunity in the tech sector, where growth remains strong, but valuations have now become severely undervalued," stated Oppenheimer and other strategists. Oppenheimer added that global tech stocks have consistently delivered strong profits and have seen positive earnings revisions, while the return on equity (ROE) remains high. The strongest valuation recovery line emerges after the erroneous killings of war the "AI Computing Super Team" led by NVIDIA Corporation The Wall Street financial giant Oppenheimer recently released a research report stating that NVIDIA Corporation (NVDA.US), Broadcom Inc. (AVGO.US), Monolithic Power Systems (MPWR.US), and Marvell Technology, Inc. (MRVL.US) are still the institution's top picks in the global semiconductor sector. This Wall Street financial giant cited the logic of oversold rebound based on "earnings certainty + high beta attributes," as well as the continuous global expansion of AI spending, as core reasons for its long-term optimism in these top semiconductor stocks. Recent statements from several Wall Street senior analysts, including those at Oppenheimer, suggest that in a scenario where the global stock market enters a window of oversold rebound or when there are clear signs of easing tensions in the Middle East geopolitical situation, the most AI computing infrastructure-related chip sectors, perennial outperformers and mostly overlooked by the market, will likely become one of the core forces leading the market counterattack and valuation recovery rally, even possibly the primary engine driving a significant rebound in the Nasdaq 100 index, known as the "tech sector barometer."