I see this selloff as the market reacting to expectations rather than deteriorating fundamentals. TSMC delivered an excellent quarter and raised its outlook, which tells me AI demand remains very strong. The higher capex may pressure near-term free cash flow, but it also signals management has confidence that customers will need significantly more capacity.

For me, the sharp decline in memory stocks like Micron and SK Hynix feels more like profit-taking after a huge rally than a change in the long-term AI story. If AI infrastructure spending continues to grow, demand for advanced memory and packaging should remain strong over the next few years.

I'm not rushing to buy all at once, but I'd be happy to gradually accumulate quality semiconductor names during periods of weakness. As long as the long-term investment thesis hasn't changed, volatility is something I prefer to use to my advantage rather than fear.