每周投资策略

Group 1: Smartphone Industry - Retail shipments of smartphones in China have started to accelerate recently, primarily due to a low base from January last year (Spring Festival), but adjusted year-to-date shipments are still down 4% year-on-year [1] - Strong supply momentum is indicated by CAICT/IDC data, showing a year-on-year shipment increase of 68%/11% in January [1] Group 2: Global Technology Trends - There is an increasing trend of smartphone brands in China actively localizing component supply, with feedback from the CIS and PA supply chains indicating that fabless customers in China continued to place orders after the holidays [3] - Despite a recent decrease in orders from U.S. customers, TSMC's advanced process nodes have shown resilience, benefiting from seasonal demand and new designs below 3/5 nanometers being put into use [4] Group 3: AI and Investment Opportunities - Hon Hai (Foxconn) is expected to gain market share in the upcoming Oberon rack solutions due to strong AI demand and its advantages in vertical integration and liquid cooling technology, with AI projected to contribute 20-25% to its earnings by 2025 [7] - The report suggests focusing on lagging AI concept stocks, indicating potential investment opportunities in this sector [5]