On Tuesday, semiconductor stocks rallied broadly, with United Microelectronics (UMC.US) climbing more than 4%, KLA Corporation (KLAC.US) rising 3%, and ASML Holding (ASML.US), Applied Materials (AMAT.US), and ASE Technology Holding (ASX.US) each gaining over 2%.

In a semiconductor equipment research report released on September 28, Barclays explicitly pushed back against the market's pessimistic view regarding the recent pullback in the semiconductor sector.

Analyst Tom O'Malley and his team believe that the current stock price decline is more of a normal correction following momentum trading, rather than a sign of cracks in the industry's fundamentals.

On the contrary, with the implementation of AI application scenarios and improving profitability, the industry's long-term growth logic remains solid.