First: Investment Decisions Are Your Own Responsibility
This article explains how to read trends, not stock recommendations or trading advice. For concrete investing, consult a qualified professional and use your own judgment.
"AI-Related" Is Not Monolithic
"AI-related companies" tends to be lumped together, but revenue structures differ entirely. Classifying by the previous chapter's 5-layer value chain organizes it.
- Hardware layer: strong demand but swayed by the capex cycle
- Cloud layer: a structure where AI demand is added on top of existing business
- Model layer: huge development cost; the monetization path is the issue
- App layer: high growth expectation but intense competition and shakeout
Reading Without Being Swayed by News
- Look at primary sources: earnings materials, official releases. Don't judge by social summaries or AI hearsay
- Separate expectation and results: stock prices price in future expectations. Announcement ≠ immediate rise
