Richard Clode, portfolio manager of the global technology-leading team at Junling Henderson Investments, said that overall, technology stocks had a strong performance in the first half of this year, but also experienced similar market digestion and profit-taking phases in the summer of 2023, even experiencing a sell-off in April. There are many opinions in the market trying to explain these situations, but in reality, there has been no fundamental change. Richard Clode said that despite recent market volatility, the bank believes that the prospects of various technology companies have not fundamentally changed. Recently, the bank has been more focused on political developments in the United States, and the possibility of Donald Trump being re-elected as president has increased, leading to capital flowing into small-cap stocks, while also raising concerns in the market about the potential impact of trade tensions on Taiwan semiconductor exports to China. In addition, Richard Clode mentioned that the market is further focusing on whether capital spending on artificial intelligence infrastructure by various technology companies can bring revenue and profit returns. However, the bank believes this is only a matter of time, as capital spending always precedes returns, and the bank has seen some early performance in Google's search and cloud computing businesses, both of which have accelerated growth.