[JPMorgan: Earnings Growth Will Drive Semiconductor Stock Rebound] JPMorgan strategists stated that AI-related stocks are unlikely to remain under pressure for long. They anticipate that strong earnings growth and improved valuations will reignite demand, particularly for semiconductor companies. The team led by Mislav Matejka pointed out that semiconductor stocks have decoupled from improving earnings prospects, with substantial supply growth not expected until 2028. It is too early to reflect the semiconductor price inflection point in the market, and fundamentals remain constructive. The relative strength index of chip stocks is approaching oversold territory. JPMorgan strategists suggested that if capital expenditure expectations for hyperscale data center operators remain strong, investors should re-enter this sector during the summer.