· 供应链分析
仅凭图表就断言“X”的年初至今表现，并引用情绪作为依据，这是最糟糕的投资方式。 股票跟随基本面，如果由创纪录的自由现金流(FCF)支撑，上涨行情才是可持续的。 此次上涨的主要原因主要是SK海力士(SK Hynix)和三星(Samsung)的存储芯片价格飙升，且这两家公司在指数中占据主要权重。 甚至不看DRAM，NAND价格在第一季度(Q1)就上涨了100%以上。 对于第二季度(Q2)，NAND价格在第一季度100%涨幅的基础上再次上涨100%，而分析师此前预测的涨幅仅为5-30%。 这极大地增加了存储芯片制造商的营业利润。
Looking at the chart alone for saying "X" YTD and citing sentiment as is the worst way to invest. Stocks follow fundamentals and rallies are sustainable if it's backed by record FCF. The reason for the rally was primarily memory price hikes from Sk Hynix/Samsung and those two making up majority of the index by weight. Not even looking at DRAM, NAND prices were hiked Q1 by 100%+. For Q2, NAND prices again were 100% again, off the Q1 100% hikes while analysts were projecting 5-30% increases. This vastly increases operating income of memory makers.