智通财经网·2025-10-29 08:00Group 1 - The market is concerned that the stock market rally driven by artificial intelligence (AI) may be in a bubble phase after reaching historical highs, but stronger earnings prospects from AI companies are alleviating these concerns [1] - SK Hynix and Advantest reported stronger financial performances, indicating a synchronized rise in demand and valuations among companies in the AI sector, including chip designers, memory suppliers, and testing equipment manufacturers [1] - This synchronized strength suggests that the AI trade is evolving from speculative increases in a few stocks to a sustainable industry profit cycle, which may support global stock markets despite a narrower range of AI-driven gains [1] Group 2 - Focus is shifting to major US tech giants, with five companies set to report earnings this week, representing about a quarter of the S&P 500 index, which will reveal whether the capital expenditure boom in AI is translating into higher returns [4] - The five tech giants—Microsoft, Amazon, Apple, Alphabet, and Meta—are under scrutiny to see if they can continue delivering impressive results amid high expectations driven by the AI trend [4] - In Asia, particularly in South Korea and Taiwan, earnings expectations have been revised upward after a mid-year lull, with the Bloomberg Asia-Pacific Semiconductor Index rising over 17% this month, potentially marking its largest monthly gain since November 2022 [4] Group 3 - There are mixed sentiments regarding the AI sector, with billionaire Ray Dalio warning that speculation around AI exhibits bubble characteristics, while others highlight solid profits from companies like Nvidia [4] - The discussion around the AI bubble is likened to two sides of a coin, with one side showing strong profits and the other side indicating inflated valuations and cyclical funding [4] - There is a need for substantial capital expenditures to translate into actual applications and monetization, providing more support for core areas and grounding the AI growth narrative in fundamentals [5]