AI infrastructure stocks may not be done selling off yet. JPMorgan warns: retail investors show little willingness to buy the dip, and fading buyback capital is amplifying market risk.

Zhitong Finance APP has learned that JPMorgan, in its latest "Flows & Liquidity" report released on October 14, warned that although AI infrastructure-related stocks have recently seen a notable pullback, the current market environment is more unfavorable compared with the correction at the end of July this year. Factors such as retail investors' lack of willingness to actively buy the dip, the imminent end of corporate share buybacks, low short positioning, and the elevated scale of leveraged ETFs may cause AI-related stocks to continue facing downward pressure.