CICC: The AI pullback is highly similar to the four pullbacks in 2000, requiring relief from three major pressures

According to Jinshi reports, CICC Research pointed out that since mid to late June, the global AI chain has shown a significant correction, especially in the South Korean market, which has performed the most dramatically, mainly due to the effects of high leverage, high congestion, and macro factors. Concerns about the AI bubble have intensified, similar to the situation before the burst of the tech stock bubble in 2000.

CICC believes that market stabilization and a new round of increases depend on the digestion of high congestion and high leverage, the alleviation of expectations for Federal Reserve interest rate hikes, as well as new catalysts from earnings reports and the industry.