$Tesla(TSLA.US) The US stock market today wasn't a complete crash; old man stocks are still quite stable. Finally, I don't need to scold today. The main issue is that the AI hardware sector was hit pretty hard.

The broader market didn't fall that dramatically, but sectors that had risen too sharply before, like semiconductors, optical communications, storage, and AI cloud, are clearly pulling back today. SMH fell quite a bit, with some recovery later, but it probably won't get back to its previous level.

The interesting part is that NVIDIA is relatively resilient, indicating the market hasn't lost faith in AI. It's more that many second-tier stocks rose too fast before, so valuations are being compressed first. My Microsoft holdings also relied entirely on it and Tesla today 😎

My understanding is: the AI main theme is still there, but now it can't just rise on stories. Going forward, we need to look at orders, profits, and actual delivery. Don't rush to bottom-fish in the short term; first, see if semiconductors and optical communications can stabilize. However, it's probably difficult for them to fall much deeper.

Samsung reported great earnings, but it actually failed to soothe the market. What the market worries about is: expectations for storage and AI chips were too high before. Even with strong earnings, it might be interpreted as 'good news is priced in.' That's the real problem.