ZHI-TECH(SZ:300785) Jin Rong Jie·2025-08-04 02:46Core Viewpoint - The current market conditions present a valuable opportunity for investment, particularly in the context of recent employment data revisions and the resilience of major tech companies in the U.S. stock market [1][5]. Group 1: Employment Data and Market Reaction - The U.S. non-farm payroll data was significantly revised downwards, with a total reduction of 258,000 jobs for May and June, and July's new jobs falling to 73,000, marking a nine-month low [1]. - This downward revision has led to a sharp market reaction, with the Nasdaq dropping 2.24% in response, and the probability of a rate cut in September skyrocketing from 40% to 90% [1]. - Despite these negative indicators, the long-term bullish trend of the U.S. stock market remains intact [1]. Group 2: Historical Market Trends - Over the past 50 years, the U.S. stock market has experienced nine significant downturns, with the largest being a 57.7% drop in 2008 [3]. - Following major declines, the market has historically rebounded to reach new all-time highs, as evidenced by the S&P 500 recovering to a new high just two months after a 21% drop earlier this year [3]. - Similar patterns of rapid decline followed by recovery have occurred in 1998, 2020, and this year, with each recovery leading to extended bull markets [3]. Group 3: Performance of Major Tech Companies - Recent earnings reports from major tech companies such as Apple, Amazon, Meta, and Google demonstrate strong profitability and resilience [5]. - Apple reported record service revenue of $27.4 billion, while Amazon's AWS generated $30.9 billion in cloud revenue, reflecting a 17.5% increase [5]. - Meta's profits surged by 36% due to increased advertising efficiency, and Google’s cloud revenue grew by 32%, with profits doubling [5]. - Collectively, these companies have invested $311 billion in AI infrastructure, indicating a shift from concept to a profit-generating engine [5][7]. Group 4: Investment Trends in ETFs - The Nasdaq 100 ETF has seen significant inflows, with over 2.2 million shares added since the beginning of the year, indicating strong institutional interest in tracking major AI companies [7]. - This ETF provides exposure to leading AI firms, covering the entire value chain from chip computing to cloud services, capitalizing on the AI boom [7].