Analysis: The extreme narrative of an "AI bubble" bursting is unlikely to materialize in the short term.

According to Mars Finance, a research report from CITIC Securities on November 24th stated that the decline in US stocks on November 20th was primarily driven by macroeconomic factors, rather than a panic sell-off triggered by the bursting of the AI bubble. The main reason for this correction was the better-than-expected September non-farm payroll data coupled with hawkish comments from the Federal Reserve, triggering profit-taking in the market. Combined with the marginal weakening of the US job market, the December Fed meeting may be the peak of this round of "hawkish panic," after which the market's main trading focus may shift to the nomination process for the new Fed Chair. The fundamentals of the AI sector remain solid. With exponential growth in tokens, persistent supply chain bottlenecks, and strong cash flow and balance sheets of the four major tech giants, the extreme narrative of an "AI bubble" bursting is unlikely to materialize in the short term. (Jinshi)