CITIC Securities: Bullish on the Potential for a US Tech Rebound After the Midterm Elections

Odaily reports: CITIC Securities research note states that entering the second half of 2026, US tech stocks continue to fluctuate around high-frequency AI narrative shifts, while the transmission from bond CDS to stock prices has correspondingly pushed up short-term market volatility. The decline in US semiconductor hardware since early October remains largely consistent with the market trading logic since mid-June, but the pressure from macroeconomic liquidity stress and midterm election uncertainty has outweighed the阶段性 pessimistic turn in AI narratives.

With the clearing of major macroeconomic and industry disturbance events over the past 1-2 weeks, along with the phased return of optimistic AI narratives, we are bullish on the potential for a US tech rebound after the midterm elections, and recommend semiconductor hardware as the primary direction. (Jinshi)