EM-Equity strategist Adrian Mowat assessed that South Korean chip stocks are experiencing a temporary dip, not an AI bubble burst, according to reporting by The Economic Times. The Economic Times reports Mowat attributed the recent volatility to strong earnings revisions driven by tight supply and demand. Mowat framed the "next phase" as one requiring companies to show AI-driven revenue growth and measurable cost reductions, and that Indian IT firms could see sentiment improve by demonstrating AI's tangible benefits to clients.