“We don’t think we see a tech bubble happening right now,” said Kuo. Some stock valuations may even increase iu60% to 70% this year even though their profits have are only revised up by 20% to 30%, leaving room for earnings to catch up, he added.
A top-performing Taiwan tech fund expects sustained demand for AI to keep driving an upward trend in the semiconductor cycle, despite growing doubts that valuations in the sector are too hot.
The NT$1.37 billion ($56.2 million) UPAMC New Asian Technology and Energy Fund, run by Uni-President Asset Management Corp.’s Sam Kuo, is up 45% this year, according to data compiled by Bloomberg. It’s outperformed 98% of peers. The fund’s biggest holdings include Nvidia Corp., Taiwan Semiconductor Manufacturing Co. and Micron Technology Inc.
