[CITIC Securities: Bullish on Potential Rebound in US Tech Stocks Following Midterm Elections] According to a research report by CITIC Securities, entering the second half of 2026, US tech stocks have continued to fluctuate around the high-frequency AI narrative, while the transmission of bond CDS to stock prices has correspondingly increased short-term market volatility. The decline in US semiconductor hardware stocks since early October is still largely in line with the market trading logic since mid-June, but the pressure from macro liquidity pressures and midterm election uncertainties outweighs the temporary pessimism surrounding the AI narrative. With the clearing of major macroeconomic and industry disruptions in the past 1-2 weeks, and the temporary return of optimistic AI narratives, we are bullish on the possibility of a rebound in US tech stocks following the midterm elections, and recommend semiconductor hardware as the primary focus. (Golden Ten)