通信ETF（515880）5日吸金近40亿元，AI算力或为板块性大行情

Group 1 - The communication sector experienced a significant pullback, with the communication ETF (515880) dropping over 5%, but saw a net inflow of over 1.3 billion yuan yesterday and over 3.8 billion yuan in the past five days, currently holding a scale of over 11.5 billion yuan, ranking first among its peers [1] - CITIC Securities indicated that the revenue and net profit growth rates for the communication sector in Q2 2025 are expected to improve compared to the same period last year, with gross and net profit margins reaching new highs since 2022 [1] - The AI computing power sector is performing well, with public funds and northbound capital's holdings in the communication industry reaching historical highs of 3.85% and 2.18% respectively [1] Group 2 - The current price-to-earnings ratio (PE-TTM) for the communication sector is 46.44, which is at the 99.59th percentile over the past five years and the 74.54th percentile over the past ten years [1] - The penetration rate of AI users remains low, and the development of large models is still in the early to mid-stages, indicating that the industrialization cycle has just begun, with significant potential for capital expenditure growth as revenues from large models increase [1] - The communication ETF (515880) has over 75% allocation in "optical modules + servers + optical fibers + copper connections," making it a core engine for computing power investment, suggesting that interested investors should consider related investment opportunities [1]