The whole AI trade rests on one building in Hsinchu

Everyone models NVDA demand. Almost nobody prices the supply chokepoint. Pull the 10-Ks of NVDA, AVGO and AAPL side by side and the same name shows up in every risk-factors section: leading-edge capacity is effectively single-sourced at TSMC, and TSMC's advanced nodes depend on a single EUV vendor (ASML).

The point isn't "Taiwan invasion" — it's that a $9T cluster of market cap shares one correlated, under-hedged tail. If you own the Mag-7 you are not diversified the way the ticker count suggests. The graph view makes this obvious in about three seconds.