$Sandisk(SNDK.US) From the perspective of a bystander who never participated, let me say a few words: storage has risen too much in the past six months, it wouldn't be an exaggeration for it to fall a few hundred more points. Within the grand narrative, it seems the expected returns for the next year have already been overdrawn. AI is great, but so far, there haven't been any major results. No major results, no major returns.

After Tesla spun off its rocket and Starlink businesses, it's also on a downward trend now. I read the news saying they've even converted factories to produce robots. If it mainly relies on cars, $300, in my view, is already high.

SpaceX is about to break its issue price soon. Although the reusable value is high, so far, no other greater value has been seen. As for Elon talking about going to the moon and Mars immigration, I still think it's overly mythologized. Even if they really get there, no value can be seen in the short term. It's not bad to treat it as a kind of faith, at least this goal can't be achieved in the next few years or even over a decade.

Marvell soared because of a single sentence from Jensen Huang. I think it can rise, but the possibility of hype is greater. Executives are continuously cashing out. The stock price will come down the same way it went up.

SK Hynix, Micron, same logic as SanDisk.

The above are all good companies, but they all share a common point: big bubbles, big valuations.

One last thing: capital might flow back to Hong Kong stocks. This wave of Xiaomi might really take off.