The technology sector, which dominated the market in the first half of the year, is now undergoing a rigorous stress test. In early July, the A-share market and overseas semiconductor sectors underwent synchronized corrections, with several leading stocks experiencing declines driven by trading volumes. Nevertheless, in the long run, semiconductors continue to stand out as the most significant investment theme of the year, with related ETFs and actively managed equity funds consistently outperforming. Bolstered by a more favorable-than-anticipated outlook for the global semiconductor industry and the burgeoning demand for AI computing power infrastructure, institutions maintain that the technology sector is still in the "right-side layout" phase (referring to the strategic positioning or deployment of investments) in the short term. The investment rationale is transitioning from "theme hype" to "performance validation."