景林、星石、重阳……2026年投资思路曝光

Group 1: AI and Technology Outlook - The penetration and transformation of AI across various industries is just beginning, with 2026 likely to be the year of widespread adoption of AI Agents [2][3] - Companies without an "AI ticket" are at risk of being marginalized in the evolving market landscape [3] - The demand for the technology sector is expected to remain strong, driven by ongoing global AI capital expenditure and the development of high-end manufacturing industries in China [4][5] Group 2: Investment Strategies - Investment strategies should focus on high-growth sectors such as AI, innovative pharmaceuticals, and advanced manufacturing, while also considering sectors like transportation and real estate that are experiencing improved supply-demand dynamics [5][7] - The market is expected to see a shift from valuation-driven to earnings-driven performance, with a focus on companies with strong customer loyalty and pricing power [2][6] - Defensive strategies are recommended to preserve gains from the 2025 bull market while seeking further opportunities for profit expansion [6][7] Group 3: Market Conditions and Predictions - The macroeconomic environment in 2026 is anticipated to support a recovery in traditional industries, with policies aimed at stabilizing demand and improving price trends [5] - The A-share and Hong Kong markets are showing reduced volatility, indicating a more resilient market with stronger sustainability over time [6] - The overall sentiment remains positive, but investors are advised to temper their return expectations due to the completion of valuation recovery in many sectors [6][7]