JPMorgan Tech uzman\u0131 Joshua Meyers, bug\u00fcn teknoloji hisselerindeki sat\u0131\u015f\u0131n arka plan\u0131n\u0131 de\u011ferlendirirken en yak\u0131n nedenin Hock Tan\u2019\u0131n Singapur\u2019daki DBS konferans\u0131nda bir panele kat\u0131lmas\u0131 oldu\u011funu s\u00f6yledi. Tan\u2019\u0131n burada, bile\u015fen k\u0131tl\u0131klar\u0131ndan daha b\u00fcy\u00fck bir darbo\u011faz\u0131n ortaya \u00e7\u0131kabilece\u011fi uyar\u0131s\u0131nda bulundu\u011funu ve \u00f6nc\u00fc laboratuvar i\u015f modellerini sorgulaman\u0131n yan\u0131 s\u0131ra \u201cbir\u00e7ok yat\u0131r\u0131mc\u0131y\u0131\u201d kumarhane kumarbazlar\u0131na benzetti\u011fini aktard\u0131.<\/p>\n
Meyers ayr\u0131ca hafta sonu yay\u0131mlanan bir sat\u0131\u015f taraf\u0131 ara\u015ft\u0131rmas\u0131n\u0131n, yat\u0131r\u0131mc\u0131lar\u0131 haftalard\u0131r endi\u015felendiren g\u00fc\u00e7 kayg\u0131lar\u0131n\u0131 yeniden alevlendirdi\u011fini belirtti; \u00e7al\u0131\u015fma gelecek y\u0131l 19GW\u2019ye varan g\u00fc\u00e7 kabu\u011fu k\u0131tl\u0131klar\u0131 ve 2028\u2019de daha fazlas\u0131n\u0131 i\u015faret ediyordu. Bu geli\u015fmeler, d\u00fc\u015f\u00fck likiditeye sahip bir tatil g\u00fcn\u00fcnde gelirken Ortado\u011fu\u2019dan gelen haberlerin de piyasay\u0131 desteklemedi\u011fi vurguland\u0131.<\/p>\n
Yat\u0131r\u0131mc\u0131lar\u0131n \u00c7ar\u015famba g\u00fcn\u00fc beklenen \u00f6zel \u00f6nc\u00fc laboratuvar yat\u0131r\u0131mc\u0131 toplant\u0131s\u0131n\u0131 bekledi\u011fi, bu s\u0131rada SOX\u2019un 100MA\u2019s\u0131nda zorland\u0131\u011f\u0131 ve a\u00e7\u0131k bir tahvil piyasas\u0131n\u0131n faizleri y\u00fckseltti\u011fi senaryoda g\u00f6r\u00fclebilecek t\u00fcrden Mag 7 ve internet hisselerine rotasyon ya\u015fand\u0131\u011f\u0131 ifade edildi. Sabah\u0131n \u00f6ne \u00e7\u0131kan sorular\u0131 aras\u0131nda opti\u011fin neden \u00f6zellikle zay\u0131f oldu\u011fu, belle\u011fi neyin a\u015fa\u011f\u0131 \u00e7ekti\u011fi, SMCI\u2019nin neden yeniden sert d\u00fc\u015ft\u00fc\u011f\u00fc ve TTMI\u2019nin capex duyurusundan neden bu kadar cezaland\u0131r\u0131ld\u0131\u011f\u0131 yer ald\u0131.<\/p>\n
\u00d6te yandan, \u00e7ip ve teknoloji hisseleri \u00f6nc\u00fcl\u00fc\u011f\u00fcnde Asya hisse senetleri sert sat\u0131ld\u0131; G\u00fcney Kore Kospi yakla\u015f\u0131k y\u00fczde 7 d\u00fc\u015ferek 6.000\u2019in alt\u0131na inerken, Japon Nikkei, ChiNext, CSI 300 ve \u015eanghay Bile\u015fik Endeksi de geriledi. Sat\u0131\u015f dalgas\u0131, AI kaynakl\u0131 rallinin s\u00fcrd\u00fcr\u00fclebilirli\u011fine ili\u015fkin artan ku\u015fkular ve Ortado\u011fu geriliminin petrol fiyatlar\u0131 ile tahvil getirilerini y\u00fcksek tutarak b\u00fcy\u00fcme hisselerini bask\u0131layabilece\u011fi endi\u015feleriyle ili\u015fkilendirildi.<\/p>\n
Yeni gelen piyasa notunda ayr\u0131ca AI compute s\u0131k\u0131\u015f\u0131kl\u0131\u011f\u0131n\u0131n derinle\u015fti\u011fi, \u00e7ip kiralama maliyetlerinin y\u00fczde 60 artt\u0131\u011f\u0131 ve rakiplerin g\u00fc\u00e7 i\u00e7in yar\u0131\u015ft\u0131\u011f\u0131 bilgisi yer ald\u0131. $BLK\u2019\u0131n ABD hisselerini n\u00f6tre indirip 10 y\u0131ll\u0131k tahvil getirisi y\u00fczde 5,25\u2019e yakla\u015f\u0131rken tahvillere al\u0131m yapmas\u0131 da risk i\u015ftah\u0131ndaki bozulmaya e\u015flik etti.<\/p>\n
JPMorgan stratejistleri ise \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrek sonu\u00e7lar\u0131n\u0131n hisse senetlerini desteklemesini beklediklerini ve b\u00fcy\u00fcmenin AI\u2019n\u0131n \u00f6tesine yay\u0131lmaya ba\u015flad\u0131\u011f\u0131n\u0131 savundu. Banka, S&P 500 tahminlerinin y\u00fczeyin alt\u0131nda daha makul g\u00f6r\u00fcnd\u00fc\u011f\u00fcn\u00fc ve \u00f6nc\u00fc g\u00f6stergesinin en az iki olumlu bilan\u00e7o sezonuna i\u015faret etti\u011fini bildirdi.<\/p>\n","protected":false},"excerpt":{"rendered":"
JPMorgan Tech uzman\u0131 Joshua Meyers, bug\u00fcn teknoloji hisselerindeki sat\u0131\u015f\u0131n arka plan\u0131n\u0131 de\u011ferlendirirken en yak\u0131n nedenin Hock Tan\u2019\u0131n Singapur\u2019daki DBS konferans\u0131nda<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","fxk_merge_backup":"[{\"ts\":\"2026-10-13 04:31:09\",\"content\":\"\\nJPMorgan Tech uzman\\u0131 Joshua Meyers bug\\u00fcnk\\u00fc teknoloji sat\\u0131\\u015f\\u0131ndan bahsediyor\\n\\n\\n\\nEn yak\\u0131n neden, Hock Tan\\u2019\\u0131n Singapur\\u2019daki DBS konferans\\u0131nda bir panele kat\\u0131lmas\\u0131 gibi g\\u00f6r\\u00fcn\\u00fcyor; burada, bile\\u015fen k\\u0131tl\\u0131klar\\u0131ndan daha b\\u00fcy\\u00fck bir darbo\\u011faz haline gelebilece\\u011fi konusunda uyar\\u0131da bulundu (\\u00f6nc\\u00fc laboratuvar i\\u015f modellerini sorgulaman\\u0131n yan\\u0131 s\\u0131ra, \\u201cbir\\u00e7ok yat\\u0131r\\u0131mc\\u0131y\\u0131\\u201d kumarhane kumarbazlar\\u0131na benzeterek).\\n\\n\\n\\nAyr\\u0131ca, hafta sonu boyunca bir sat\\u0131\\u015f taraf\\u0131 ara\\u015ft\\u0131rmas\\u0131, yat\\u0131r\\u0131mc\\u0131lar\\u0131 haftalard\\u0131r endi\\u015felendiren g\\u00fc\\u00e7 endi\\u015felerini yeniden alevlendirdi (gelecek y\\u0131l 19GW\\u2019ye varan g\\u00fc\\u00e7 kabu\\u011fu k\\u0131tl\\u0131klar\\u0131 ve \\u201928\\u2019de daha fazlas\\u0131 \\u00f6nererek). Bu endi\\u015feler, d\\u00fc\\u015f\\u00fck likiditeye sahip bir tatil g\\u00fcn\\u00fcnde vuruyor ve Ortado\\u011fu\\u2019dan gelen haberler de yard\\u0131mc\\u0131 olmuyor\\u2026\\n\\n\\n\\nYat\\u0131r\\u0131mc\\u0131lar, \\u00c7ar\\u015famba g\\u00fcn\\u00fc beklenen \\u00f6zel \\u00f6nc\\u00fc laboratuvar yat\\u0131r\\u0131mc\\u0131 toplant\\u0131s\\u0131 \\u00f6ncesinde ellerini ovu\\u015ftururken.\\n\\n\\n\\nSOX 100MA\\u2019s\\u0131nda zorlan\\u0131rken, a\\u00e7\\u0131k bir tahvil piyasas\\u0131n\\u0131n faizleri y\\u00fckseltti\\u011fi bir senaryoda bekleyece\\u011fimiz t\\u00fcrden bir Mag 7 ve \\u0130nternet isimlerine rotasyonu g\\u00f6r\\u00fcyoruz\\u2026\\n\\n\\n\\nBu sabahki ana sorular, opti\\u011fin neden \\u00f6zellikle zay\\u0131f oldu\\u011fu etraf\\u0131nda topland\\u0131 LITE COHR CIEN, belle\\u011fi neyin a\\u015fa\\u011f\\u0131 \\u00e7ekti\\u011fi (\\u00f6zellikle SNDK), SMCI\\u2019nin neden tekrar bu kadar d\\u00fc\\u015ft\\u00fc\\u011f\\u00fc ve TTMI\\u2019nin capex duyurusundan neden bu kadar cezaland\\u0131r\\u0131ld\\u0131\\u011f\\u0131. TTMI d\\u0131\\u015f\\u0131nda, zay\\u0131fl\\u0131k i\\u00e7in \\u015firketlere \\u00f6zg\\u00fc herhangi bir nedenim yok. Bu d\\u00fc\\u015f\\u00fcncelerin herhangi birinde geri bildiriminizi\\\/itirazlar\\u0131n\\u0131z\\u0131 her zaman takdir ederim\\u2026\\n\\n\\n\\nBirka\\u00e7 ki\\u015fi hemen bellek konusunda geri d\\u00f6nd\\u00fc, bu sabah Chips for Breakfast\\u2019te yorumlad\\u0131\\u011f\\u0131m CXMT 4F2 haberiyle. Kat\\u0131l\\u0131yorum, ama bence bellek endi\\u015feleri, o olduk\\u00e7a spek\\u00fclatif haber par\\u00e7as\\u0131ndan daha katmanl\\u0131\\u2026\\n\\ud83d\\udca1 Bilgi Notu: Likidite, piyasada al\\u0131m sat\\u0131m yapacak nakdin ve kar\\u015f\\u0131 taraf\\u0131n ne kadar kolay bulundu\\u011funu anlat\\u0131r; d\\u00fc\\u015f\\u00fck likiditede fiyatlar k\\u00fc\\u00e7\\u00fck i\\u015flemlerle bile daha sert hareket edebilir. Capex ise \\u015firketlerin fabrika, ekipman ya da altyap\\u0131 gibi uzun vadeli yat\\u0131r\\u0131mlara ay\\u0131rd\\u0131\\u011f\\u0131 sermaye harcamas\\u0131d\\u0131r.\\ud83d\\udcca Piyasa Etkisi: Teknoloji hisselerindeki sat\\u0131\\u015f\\u0131n arkas\\u0131nda yapay zek\\u00e2 yat\\u0131r\\u0131mlar\\u0131yla ilgili g\\u00fc\\u00e7 ve kapasite endi\\u015feleri ile d\\u00fc\\u015f\\u00fck likidite gibi etkenler oldu\\u011fu i\\u00e7in, k\\u0131sa vadede bu alandaki hisselerde bask\\u0131 s\\u00fcrebilir. Tahvil faizlerindeki art\\u0131\\u015f alg\\u0131s\\u0131 da b\\u00fcy\\u00fcme odakl\\u0131 teknoloji \\u015firketlerini g\\u00f6rece daha fazla bask\\u0131layabilir; buna kar\\u015f\\u0131l\\u0131k daha defansif sekt\\u00f6rlere rotasyon g\\u00f6r\\u00fclebilir.\"}]","footnotes":""},"categories":[8],"tags":[29],"class_list":["post-30235","post","type-post","status-publish","format-standard","hentry","category-son-dakikalar","tag-hisse"],"_links":{"self":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/30235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30235"}],"version-history":[{"count":3,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/30235\/revisions"}],"predecessor-version":[{"id":30255,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/30235\/revisions\/30255"}],"wp:attachment":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}