China Post Securities·2025-11-26 12:57Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1] Core Insights - The report highlights that the computer industry is experiencing significant growth driven by advancements in AI technology and cloud computing, with companies like Alibaba leading the charge in AI capabilities and market share [4][5][6] - Alibaba's recent financial performance shows a revenue of 247.795 billion yuan for FY26Q2, exceeding market expectations, with a year-on-year growth of 5% [4] - The report emphasizes the increasing demand for AI products, with Alibaba's cloud business achieving a revenue growth of 34% year-on-year, driven by public cloud and AI product demand [5][6] Summary by Sections Industry Overview - The closing index for the computer industry is at 5247.18, with a 52-week high of 5841.52 and a low of 3963.29 [1] Performance Analysis - The relative performance of the computer industry compared to the CSI 300 index shows fluctuations, with a notable decline of 11% from November 2024 to November 2025 [3] Company Highlights - Alibaba's AI-related products have seen a continuous three-digit year-on-year growth for nine consecutive quarters, indicating strong market demand [5] - The company is expanding its AI capabilities across various sectors, including government and finance, and is enhancing its global presence with new data centers [5][6] Investment Recommendations - The report suggests focusing on several key companies within the internet and AI sectors, including Alibaba, Tencent, and various domestic and overseas computing firms [8][9]