It's not about the AI bubble bursting, but about escaping the crowd! Wall Street strategy is shifting from "AI computing power beta" to "cash flow alpha".

According to the Securities Times APP, with the recent frequent occurrence of "AI computing power indicator" in the Korean stock market leading to frequent upward and downward circuit breakers, the Philadelphia Semiconductor Index in the US market has dropped nearly 19% from its June high, approaching a technical bear market. Additionally, global AI computing power theme stocks and the semiconductor sector are experiencing extreme and intense selling pressure due to over-crowded and highly leveraged long positions. Top Wall Street strategists from Citigroup, Morgan Stanley, and other firms have shifted their strategies from focusing on "AI computing power infrastructure beta" to high-quality, low momentum, abundant cash flow, and strong fundamental cyclical sectors and defensive stocks with alpha potential, whose gains this year are far less than those of technology stocks.