Zhongtai Securities: The technology rally is not over yet, and after sentiment recovers, it will remain the most important theme.

Zhongtai Securities believes that the tech rally is not over yet. The multi-asset team mentioned in its latest report that fitting the capital expenditure of major cloud providers with the total market capitalization of tech hardware indicates that the valuations of core US tech stocks such as Nvidia remain highly aligned with capital expenditure. After sentiment recovers, technology will still be the most important main theme.