Recently, influenced by factors such as easing geopolitical risks, the ongoing artificial intelligence investment boom, and the release of earnings reports from U.S. technology companies, the U.S. technology sector has experienced a strong upward trend. Wind data shows that as of May 11, 2026, the Nasdaq Index has risen for six consecutive weeks, with a cumulative increase of 25.42% during this period.
The ChinaAMC Mobile Internet Mixed Securities Investment Fund (QDII) (Code: 002891), which focuses on investing in U.S. technology stocks, has also achieved significant net asset value growth amid the tech rally. According to Wind data, as of May 8, 2026, the fund's net asset value increased by 70.64% over the past six months. During the same period, its performance benchmark and the Nasdaq Index recorded changes of -1.71% and 14.10%, respectively, indicating that the fund significantly outperformed the market.
Three Major Factors Converge, Supporting the U.S. Tech Rally Given the rapid rise, many investors may be concerned: Is there a risk of a pullback after such swift gains? Let’s analyze the core drivers of this rally:
First, easing geopolitical factors have led to capital inflows, driving the rebound. Previously, due to U.S.-Iran geopolitical risks, various investors reduced positions and held cash, adopting a wait-and-see approach. As geopolitical relations gradually eased, this观望资金 quickly flowed back into the market, becoming the foundational force behind the upward trend. At the same time, systematic trading strategies such as CTA trend following, risk parity, and options-related strategies increased their positions in line with the strengthening market. Major U.S. investment institutions also resumed leverage operations, raising their allocations to risk assets. The simultaneous entry of various types and volumes of capital collectively propelled the rapid rebound in U.S. stocks.
Second, the rapid development of the AI industry and its strong fundamentals. Significant breakthroughs in Agent applications and their rapid adoption, coupled with OpenAI and Anthropic continuously raising their annual recurring revenue (ARR) expectations, along with a generally high-growth pattern of increasing volume and prices and supply shortages across the AI industry chain, indicate a positive overall development trend for the industry.
Finally, impressive corporate earnings during the U.S. earnings season. According to LSEG data, as of May 1, among the S&P 500 component companies that have reported earnings, over 80% exceeded analysts' profit expectations. Wind data shows that technology stocks performed particularly well in the first quarter of 2026. Google's net profit attributable to the parent company reached $62.578 billion, a year-on-year increase of 81.18%, while NVIDIA's net profit attributable to the parent company was $18.775 billion, up 26.17% year-on-year.
In summary, this round of gains in the U.S. technology sector is not solely driven by market sentiment but is supported by a triple logic: capital inflows, solid fundamentals in the AI industry, and better-than-expected earnings from technology companies. The rally has a relatively solid underlying logic, and its medium- to long-term potential remains worthy of close attention.
Fund Manager Guo Kunyan: Momentum Remains, Strategic Positioning is Orderly At the current juncture, it is reasonable to maintain optimism about the investment prospects of the overseas AI industry. In 2026, AI infrastructure construction remains in a high-growth cycle, and industry growth is expected to continue into 2027. Coupled with sustained high growth in corporate earnings, valuations in the AI sector are not in a bubble. Moreover, improving liquidity in 2026-2027 and macro-environmental factors such as mid-term elections are also favorable for U.S. technology stocks.
Against this backdrop, if an active equity fund can, through in-depth research and close tracking, capitalize on market volatility-induced mispricings, it not only has the potential to significantly outperform the index but also to generate substantial returns for investors. The ChinaAMC Mobile Internet Mixed Securities Investment Fund (QDII) aims to be such a product. Guo Kunyan pointed out, "The product currently primarily focuses on the global (mainly U.S.) AI industry chain. Through a strategy of 'high position + high AI concentration + high flexibility,' it strives to become a product that genuinely focuses on the development of the global AI industry and helps holders share in the growth dividends of global technology."
Artificial intelligence is a profound and enduring technological revolution, continuously reshaping productivity and economic structures, offering broad long-term investment opportunities. From a global perspective, the U.S. technology sector is home to the world's most competitive AI large models, computing chips, and application companies, occupying a core position in the AI industry chain. Guo Kunyan stated, "For investing in AI, the U.S. stock market remains one of the markets with the highest certainty and most worthy of allocation. We remain optimistic about the medium- to long-term investment value of the U.S. AI industry chain."
Positioning for U.S. Tech Opportunities: Focus on ChinaAMC Mobile Internet Mixed Securities Investment Fund (QDII) The ChinaAMC Mobile Internet Mixed Securities Investment Fund (QDII) focuses on investing in the U.S. technology sector and has achieved strong performance during the AI rally. Wind data shows that as of May 8, 2026, the fund's net asset value increased by 70.64% over the past six months and 128.69% over the past year. During the same periods, its performance benchmark changed by -1.71% and 14.82%, respectively, while the Nasdaq Index changed by 14.10% and 46.40%. Over the past year, the fund outperformed the Nasdaq Index by 82.29%, creating substantial excess returns for holders.
Regarding holdings, the first-quarter 2026 report shows that the fund's top ten holdings cover core leading companies in the AI industry chain, primarily focusing on mid- and upstream enterprises with high value and strong earnings certainty. These include core AI computing companies NVIDIA, Intel, Google; memory chip leaders Micron, SanDisk; optical communication/optical module leaders II-VI, Lumentum, Applied Optoelectronics; and semiconductor equipment and materials leaders Onto Innovation, Corning. In terms of the performance of these holdings, year-to-date, seven of the top ten holdings have seen stock price increases exceeding 100%, with three even achieving gains of over 200%. (Note: Mentioned stocks do not constitute recommendations; detailed notes are at the end of the article.)
| Stock Symbol | Year-to-Date Change | | :--- | :--- | | SanDisk | 551.93% | | Applied Optoelectronics | 430.41% | | Intel (INTEL) | 250.79% | | LUMENTUM | 185.71% | | Micron Technology (MICRON TECHNOLOGY) | 178.78% | | Corning (CORNING) | 137.30% | | COHERENT | 105.72% | | ONTO INNOVATION | 82.14% | | Google (ALPHABET) -A | 24.25% | | NVIDIA (NVIDIA) | 17.67% |
Data source: Wind, data period: January 1, 2026 - May 11, 2026. Mentioned stocks do not constitute recommendations; past performance does not predict future results. The market involves risks; investment requires caution.
Guo Kunyan analyzes that a superior approach to investing in technology stocks is to replace "speculative thinking" with "industrial thinking." The core of this approach is to base decisions on the essence of industrial development, focus on the long-term value of the sector, and evaluate investment targets from a longer-term perspective. Simply put, the core of practicing industrial thinking is to answer a key question: Do technology sectors like AI and semiconductors have a sustainable underlying logic for development over the next 3-5 years?
For investors who firmly believe in the long-term development of technology sectors like AI and semiconductors, short-term market volatility is not a risk but rather provides a better window for rational entry. Compared to the passive operations of "buying high and selling low" under speculative thinking, industrial thinking guides investors to look beyond the noise of short-term market movements and focus on the core drivers of industrial development—technological breakthroughs, demand upgrades, and policy support. This allows them to share in the growth dividends of the industry through long-term holding.
Investors interested in positioning for U.S. technology assets may consider participating through phased, regular investments. Against the backdrop of increased market volatility, accurately predicting the market's lowest point is extremely difficult. A phased investment approach not only helps average down investment costs during market fluctuations, effectively avoiding the risk of missing out, but also allows for continuously expanding the principal during market upswings, better capturing the upward trend of the technology sector.
Fee Structure: The ChinaAMC Mobile Internet fund charges a management fee of 1.2% per year and a custody fee of 0.2% per year, both deducted from the fund's assets. A one-time subscription fee is charged upon purchase, with no sales service fee. Front-end subscription fees: Subscription amount < 500,000 CNY, 1.50%; 500,000 CNY ≤ Subscription amount < 2,000,000 CNY, 1.20%; 2,000,000 CNY ≤ Subscription amount < 5,000,000 CNY, 0.80%; Subscription amount ≥ 5,000,000 CNY, 1,000 CNY per transaction. Redemption fees: Holding period < 7 days, 1.5%; 7 days ≤ Holding period < 30 days, 0.75%; 30 days ≤ Holding period < 365 days, 0.50%; Holding period ≥ 365 days, 0%.
Specific Risk Disclosures: (1) This fund primarily invests in stocks related to the mobile internet theme. Companies related to the mobile internet theme as defined by the fund refer to those whose main or expected revenue comes from internet-related businesses or whose business development relies on the internet. Changes in the macro-environment, industry dynamics, economic cycles, and political/economic policies related to the mobile internet theme defined by the fund may all affect the fund's investment performance. (2) This fund may invest in domestic and overseas markets. Depending on investment strategy needs or changes in the market environment of different allocation locations, the fund may choose to invest part of its assets in Hong Kong stocks or may choose not to invest in Hong Kong stocks. It is not mandatory for the fund to invest in Hong Kong stocks; there is a possibility it may not invest in Hong Kong stocks.
Regular Investment Risk Warning: Investors should fully understand the differences between regular fund investment plans and savings methods like installment savings. Regular investment is a simple and easy way to guide investors towards long-term investment and average investment costs. However, regular investment does not eliminate the inherent risks of fund investment, cannot guarantee investors will obtain returns, and is not an equivalent wealth management method to savings. The market involves risks; investment requires caution.
Risk Warning: 1. The above fund's risk rating is medium-high risk. The above fund is a mixed fund, and its expected risk and return are lower than those of stock funds but higher than those of bond and money market funds. The specific risk rating results are subject to the rating results provided by the fund manager and selling institutions. 2. Risks in ChinaAMC Mobile Internet investments include: special investment risks such as exchange rate risk, country risk, and emerging market risk faced in global market investments; risks related to various investment instruments such as stocks, bonds, and derivatives; liquidity risk arising from large-scale continuous redemptions by fund holders; and active management risk generated by the fund manager in the fund management process. This fund is a global securities investment fund. In addition to bearing market volatility risks similar to those of domestic securities investment funds, this fund also faces special investment risks associated with overseas market investments, such as exchange rate risk. 3. Before investing in the above fund, investors should carefully read the fund's "Fund Contract," "Prospectus," and "Product Key Facts Statement" and other fund legal documents, fully understand the risk-return characteristics and product features of the above fund, and consider their own risk tolerance based on factors such as investment purpose, investment period, investment experience, and asset status. On the basis of understanding the product situation and sales suitability opinions, make rational judgments and prudent investment decisions, and bear investment risks independently. 4. The fund manager does not guarantee that the above fund will be profitable, nor does it guarantee a minimum return. The past performance and net asset value level of the above fund do not predict its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the performance of the above fund. 5. The fund manager reminds investors of the "buyer beware" principle in fund investment. After investors make investment decisions, investment risks arising from the fund's operational status, fluctuations in the fund's listed trading price, and changes in the fund's net asset value shall be borne by the investors themselves. 6. The China Securities Regulatory Commission's registration of the above fund does not indicate its substantive judgment or guarantee of the fund's investment value, market prospects, or returns, nor does it indicate that investing in the above fund is risk-free. 7. This product is issued and managed by China Asset Management Co., Ltd. Selling agents do not bear the product's investment, payment, and risk management responsibilities. 8. The market involves risks; investment requires caution. Individual stocks mentioned in this content do not constitute stock recommendations.
The MACD golden cross signal has formed; these stocks have performed well!
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