2025年股基状元李进：2026年布局这四大核心赛道

Group 1 - The core viewpoint is that the A-share market's upward trend is likely to continue, with overall valuations remaining reasonable [2][11] - The focus of investment has been on artificial intelligence (AI) and related sectors, with significant growth observed in AI computing power [2][12] - The manager emphasizes a diversified approach, investing in multiple sectors including new energy, innovative pharmaceuticals, and new consumption [1][11] Group 2 - AI computing power is expected to maintain high growth rates, with specific products like 800G and 1.6T driving demand in the light module and PCB sectors [4][14] - The valuation of leading companies in the AI sector is projected to be around 20 times PE in 2026, indicating reasonable levels despite recent price increases [3][13] - The light module segment is identified as having the highest valuation elasticity due to increasing demand driven by the growth of mainstream large models [3][13] Group 3 - The manager has expressed cautious optimism regarding the new consumption and innovative pharmaceutical sectors, having reduced exposure due to high valuations and underperformance in earnings [4][14] - The energy storage sector is highlighted as a potential second growth point, with increasing profitability driven by market dynamics [4][14] - The investment strategy focuses on identifying strong competitive companies while avoiding higher volatility in smaller firms [6][15] Group 4 - The AI sector is expected to outperform innovative pharmaceuticals and new consumption in 2026, with key risks centered around industry growth performance and technological advancements [6][16] - The investment approach includes a balanced allocation across growth sectors, focusing on leading companies and dynamic adjustments based on market conditions [6][15] - Continuous monitoring of industry trends and consumer demand shifts is crucial for identifying investment opportunities [6][15]