AI算力硬件设备：短期催化强劲，长期价值凸显！

Core Viewpoint - The communication equipment sector is poised for significant growth driven by the AI wave, which is reshaping production models across various industries and creating a concentrated demand for communication infrastructure as a foundational element for AI applications [5][7][11]. Short-term Catalysts - Technological Iteration: Recent advancements in PCB technology have reduced component consumption and costs, leading to increased demand for communication equipment as it is closely linked to the performance of the entire industry chain [8]. - Inflow of Incremental Capital: Following the disclosure of Q2 reports, there has been a noticeable shift in capital flow towards sectors with high performance visibility, with communication equipment meeting this criterion due to solid performance in core segments like optical modules and servers [9]. - Market Style Shift: A recent shift in market style has favored growth sectors, with communication equipment benefiting from increased investor preference for high-growth areas, particularly in technology [10]. Long-term Perspective - The long-term outlook for the communication equipment sector remains positive, as the demand driven by AI is expected to be a sustained trend throughout the technological revolution cycle. Industry research indicates a strong growth momentum in downstream orders and production expansion [11][12].