Dirt Cheap AI: The Opportunity Nobody Wants To Touch
The great AI reset
Asia's AI trade has gone from crowded to crushed. Momentum has collapsed, tech positioning has been slashed and Korean semiconductors have suffered brutal drawdowns. Yet JPM argues the underlying AI cycle remains intact. With positioning close to capitulation levels and valuations increasingly disconnected from earnings, the question is whether this is the end of the AI supercycle or another massive buying opportunity.