--- type: "News" locale: "en" url: "https://longbridge.com/en/news/292014371.md" description: "John Pearce, Chief Investment Officer of UniSuper, one of Australia's largest pension funds, stated that despite the high valuations and recent pullback of U.S. tech stocks, the fund remains committed to an overweight position in U.S. tech stocks. Pearce believes that the AI spending cycle is at a \"sweet spot,\" with solid fundamentals and good growth prospects for companies like NVIDIA and Microsoft. Therefore, he plans to continue increasing positions during market pullbacks, disregarding concerns about bubbles" datetime: "2026-07-08T05:04:37.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292014371.md) - [en](https://longbridge.com/en/news/292014371.md) - [zh-HK](https://longbridge.com/zh-HK/news/292014371.md) --- # One of Australia's largest pension funds, UniSuper, is seeking to buy into U.S. tech stocks during the current pullback, disregarding concerns over high valuations, betting that artificial intelligence will drive profit growth in the coming years. The fund's Chief Investment Officer, John Pearce, stated that the fund is structurally overweight in U.S. tech stocks as they are at the "sweet spot" of the AI spending cycle, and even if the sector pulls back by 10%, they will increase their positions. This bullish stance highlights the growing divergence among investors regarding the long-term outlook for U.S. mega-cap tech stocks, which are retreating from last month's all-time highs. Pearce remarked, "Everyone is talking about a bubble, but valuations do not reflect that. We know they are making significant capital expenditures, but they are fundamentally strong companies with good growth prospects, so we are very willing to remain bullish." UniSuper has a size of AUD 166 billion (approximately USD 115 billion) and has maintained an overweight position in U.S. tech stocks for several months. International equities account for about 35% of its default investment strategy, with NVIDIA, Microsoft, and Apple being its largest holdings ### Related Stocks - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [NVDD.US](https://longbridge.com/en/quote/NVDD.US.md) - [MSFY.US](https://longbridge.com/en/quote/MSFY.US.md) - [MSFO.US](https://longbridge.com/en/quote/MSFO.US.md) - [07788.HK](https://longbridge.com/en/quote/07788.HK.md) - [NVDQ.US](https://longbridge.com/en/quote/NVDQ.US.md) - [NVD.US](https://longbridge.com/en/quote/NVD.US.md) - [NVDL.US](https://longbridge.com/en/quote/NVDL.US.md) - [07388.HK](https://longbridge.com/en/quote/07388.HK.md) - [NVDS.US](https://longbridge.com/en/quote/NVDS.US.md) - [NVDB.US](https://longbridge.com/en/quote/NVDB.US.md) - [NVDY.US](https://longbridge.com/en/quote/NVDY.US.md) - [MSFU.US](https://longbridge.com/en/quote/MSFU.US.md) - [NVDU.US](https://longbridge.com/en/quote/NVDU.US.md) - [NVDG.US](https://longbridge.com/en/quote/NVDG.US.md) - [NVDO.US](https://longbridge.com/en/quote/NVDO.US.md) - [NVDW.US](https://longbridge.com/en/quote/NVDW.US.md) - [NVYY.US](https://longbridge.com/en/quote/NVYY.US.md) - [NYYY.US](https://longbridge.com/en/quote/NYYY.US.md) - [NVDX.US](https://longbridge.com/en/quote/NVDX.US.md) - [DIPS.US](https://longbridge.com/en/quote/DIPS.US.md) - [09388.HK](https://longbridge.com/en/quote/09388.HK.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [MSFD.US](https://longbridge.com/en/quote/MSFD.US.md) - [MSFL.US](https://longbridge.com/en/quote/MSFL.US.md) - [MSFW.US](https://longbridge.com/en/quote/MSFW.US.md) - [MSFX.US](https://longbridge.com/en/quote/MSFX.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [Nvidia Is Allegedly Delaying Its Kyber Rack-Scale Architecture by More Than 12 Months. What This Means for NVDA Stock.](https://longbridge.com/en/news/292092096.md) - [Nvidia supplier SK Hynix prepares for large-scale US market debut](https://longbridge.com/en/news/291571949.md) - [Microsoft cuts 4,800 jobs across sales and Xbox. Read the memo.](https://longbridge.com/en/news/291811857.md) - [Microsoft's Xbox cuts 1,600 employees, with plans to shed 20% of its workforce this year](https://longbridge.com/en/news/291811836.md) - ['A Change Is Coming,' Says Gil Luria About Microsoft Stock](https://longbridge.com/en/news/291852861.md)