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On June 12th, driven by the strong surge in Apple Inc.'s stock price, the technology sector in the A-share market continued to show strength.

By the close, within the electronic components sector, shares of Inligo (300956.SZ) and Haineng Industry (300787.SZ) hit the 20cm upper limit, and the Wind Apple Industry Chain Index closed up by 2.29%. Among other stocks in the sector, Zhongshi Technology (300684.SZ) ended with a gain of over 11%, and Deren Electronics (002055.SZ) rose by more than 10%.

In the U.S. stock market the previous night, Apple's stock price closed up significantly by 7.26%, setting a new historical high, with a market capitalization rising to $3.18 trillion (approximately 23 trillion RMB).

As U.S. technology stocks remain active, related QDII funds also face a higher premium risk.

The Nasdaq Technology QDII (trading name "Nasdaq Technology ETF") under Jing Shun Great Wall Fund has been suspended for one hour after the opening for two consecutive trading days (June 11th and June 12th) due to excessive premium in the secondary market. On June 11th, Easy Fund also announced that the secondary market trading price of the A-class RMB shares of its S&P Information Technology LOF is significantly higher than the net value of the fund shares, and investors may face significant losses if they buy at a high premium.

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Market analysts say that the new high in Apple's stock price not only stimulates the activity of the A-share technology sector but also reflects global investors' confidence and expectations for the technology industry. However, while enjoying the high returns of technology stocks, investors also need to be wary of market volatility and premium risks.

U.S. technology stocks soar, with the Nasdaq and S&P reaching new highs.

Following Apple's launch of a series of new artificial intelligence features at the "Worldwide Developers Conference" on June 10th, the market reassessed Apple's value, and U.S. technology stocks ushered in a new round of strong gains.

On the 11th, the three major U.S. stock indices showed mixed performances, with the Nasdaq closing at 17,343.55 points; the S&P 500 index reported at 5,375.32 points, both setting historical closing highs. Large-cap technology stocks rose across the board, with Apple up by 7.26%, hitting a historical high, followed by gains in Microsoft, Amazon, Google, and others.

CICC believes that Apple's introduction of the Apple Intelligence feature will support upgrades for iPhone 15 Pro series and above, which is expected to significantly increase users' demand for device upgrades, thereby driving an increase in Apple's sales volume. At the same time, improvements in AI user experience are expected to further stimulate users' enthusiasm for upgrading, and domestic Apple supply chains are also expected to benefit significantly as a result.From a longer-term perspective, U.S. technology stocks have shown an overall upward trend this year. Traders analyze that the accelerated growth of corporate earnings during the earnings season, the ongoing AI boom, and the optimistic fundamentals of the U.S. economy have jointly driven the upward momentum of U.S. technology stocks. With the continuous innovation and progress in the technology industry, as well as the increasing market recognition of AI technology, the future prospects of U.S. technology stocks are still worth looking forward to.

Guohaifranklin Fund Manager Di Xinghua analyzed for Yicai that although artificial intelligence is in its infancy, its potential to enhance productivity and increase labor force cannot be ignored. Among them, the fields of computing power, network architecture, and general software contain long-term investment value, with a focus on the development and commercialization of large-scale models in computing power and application ends at home and abroad.

QDII funds are significantly premium, and institutions frequently warn of risks.

With the surge in U.S. technology stocks, QDII funds that track indexes such as the Nasdaq and S&P in the domestic market have begun to frequently warn of premium risks.

According to Wind statistics, as of June 12, there are about 86 QDII funds (calculated separately for different shares) that track the Nasdaq index and the S&P 500, among which 17 have a compound annual growth rate of net value exceeding 15% since the beginning of the year.

Affected by the continuous rise of the U.S. technology sector, the net value growth rate of the E Fund S&P Information Technology Fund has exceeded 22% this year, and the net value growth rate in the past year has exceeded 37%. Since May, the E Fund S&P Information Technology LOF has issued 13 premium risk warnings.

According to the fund's first quarter report for 2024, during the reporting period, the fund size was 688 million yuan, mainly invested in leading U.S. technology stocks such as Microsoft, Apple, and Nvidia, with Microsoft's position as high as 22%, and Apple and Nvidia accounting for 17.5% and 16% respectively, with a total position exceeding 55%.

The Jing Shun Great Wall Nasdaq Technology ETF is also the case. The fund has been suspended four times since June and has issued six premium risk warnings.

However, the more investors buy, the higher the price. As of the close on June 12, the premium rate of Jing Shun Great Wall Nasdaq Technology ETF exceeded 17%, and the premium rate of E Fund S&P Information Technology exceeded 9%.

In addition to the high premium risk, some QDII funds that have recently approved quotas are also used to expand such products.Specifically, the Cathay Nasdaq 100 Fund and the Cathay S&P 500 ETF (QDII) announced on June 5th that they have resumed subscription and regular fixed investment business, but both have set large amount restrictions. The Huaxia S&P 500 ETF and Huaxia Nasdaq 100 ETF, under the Huaxia Fund, also resumed subscriptions recently, which were previously suspended due to market volatility.