计算机行业周观点：关注海内外AI应用的加速落地

Investment Rating - The report maintains an "Outperform" rating for the computer industry [5]. Core Insights - The report emphasizes the accelerated implementation of AI large models, highlighting the ongoing updates and innovations in AI technology that enhance product applications across various scenarios such as AI agents, office automation, and marketing [2][35]. - It suggests focusing on the innovation and product strength of AI applications, which are expected to increase demand for AI computing power and drive the need for AI terminals like AIPC and embodied intelligence [2][35]. - The report recommends aligning investment strategies with policy guidance and demand traction, particularly in digitalization, intelligence, and trusted innovation sectors [36]. Industry Dynamics - Recent international dialogues on AI between Chinese President Xi Jinping and U.S. President Joe Biden indicate a constructive approach to AI governance [3]. - Baidu's recent launch of the Wenxin iRAG and no-code tool "Miao Da" showcases significant advancements in AI capabilities, with daily usage increasing from 50 million to over 1.5 billion [3][40]. - The launch of iFlytek's multimodal interaction model and Huawei's global embodied intelligence innovation center further illustrates the rapid development in AI applications [3][41][42]. Market Performance - The computer industry saw a decline of 3.41% last week, slightly underperforming the broader market index, which fell by 3.29% [2][46]. - The average daily trading volume for the computer industry increased by 4.87% compared to the previous week, reaching approximately 2.77 billion [4][56]. - The current price-to-earnings (P/E) ratio for the computer industry stands at 48.61, above the historical average of 47.78 since 2016, indicating a higher valuation compared to historical norms [4][55]. Stock Performance - Out of 355 stocks in the computer sector, 239 experienced declines, representing 67.32% of the total, indicating a challenging week for the majority of stocks [4][62]. - The report highlights the need to monitor individual stock performances and market trends closely, especially in light of the recent fluctuations [4][62].