Bin But: The recent deleveraging pullback is a necessary process. The Nasdaq rebound in August is expected to continue until Nvidia's earnings report.

BlockBeats News, August 3rd. This morning, Dong Bin, the Chairman of Oriental Harbor, expressed his opinion, stating that in July, the chip sector experienced a sharp decline and massive leverage liquidations, but in the grand AI cycle, this level of pullback is both a necessary step and a sign of market health.

The market has not yet fully grasped the unlimited demand potential of AI as an "intelligent" product. Concerns about the capital expenditure of giants replayed the early story of Amazon AWS, but the AI opportunity is much larger. Funds are flowing back from low-quality tech stocks to high-quality targets, confirming the prediction of "the return of the king" by the end of 2026. Storage chips still face cyclical risks and high volatility. It is advisable to wait for technical repairs and have more confidence in fundamentally solid companies like NVIDIA, Broadcom, and TSMC, as funds will flow more towards high-quality application layers.

On the other hand, the business of hyperscale cloud providers is accelerating, with a large backlog of orders and a growing speed, indicating that the previous punishment for capital expenditure was a misjudgment, and these investments will translate into predictable future revenue. Looking ahead to August, the rebound of the Nasdaq is expected to continue until NVIDIA's earnings report. The tech sector's rolling correction is nearing its end, and funds are accelerating back into high-quality tech stocks. In terms of specific sector operations, for the chip and storage (memory) sectors, it is currently not suitable to blindly chase highs. However, investors can adopt a strategy of buying on dips for short-term swing trades until the storage sector completely forms a bottom pattern on the technical front.