尽管台积电再次交出了远超预期的亮眼财报，但其美国存托凭证今早仍遭遇抛售。部分分析师将矛头指向了这家芯片巨头的庞大资本支出计划，认为这可能是催化剂。然而，原因或许更为简单直接：一些大型投资者正在结束他们对芯片股的“热恋”。
事实上，高盛大宗经纪部门昨日在一份报告中指出，对冲基金对其广泛人工智能投资组合（包含美国超微公司、美光科技和英伟达等股票）的总体净敞口已降至今年最低水平。这暗示着，在经历了一轮爆炸性上涨后，对冲基金正在锁定利润。该板块的上涨已为对冲基金带来了丰厚回报，PivotalPath数据显示，今年上半年对冲基金实现了7.4%的回报率，轻松超越了5.2%的历史平均水平。
然而，所有这些新释放的资金必须找到新的去处。那么，投资者接下来可能瞄准什么呢？高盛投资组合团队青睐的一个思路是：趁低买入超大规模企业，例如Meta、Alphabet和甲骨文，这些公司的股票今年表现相对更为挣扎。
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