【国信电子胡剑团队|0727周观点】半导体全面反弹伊始，看好三重周期共振下的估值扩张行情

Core Viewpoint - The semiconductor industry is experiencing a comprehensive rebound, driven by a triple-cycle resonance that is expected to lead to valuation expansion in the market [3]. Market Performance - In the past week, the Shanghai Composite Index rose by 1.67%, while the electronic sector increased by 2.85%. The semiconductor sub-sector saw a notable rise of 4.65% [3]. - The Hang Seng Technology Index increased by 2.51%, whereas the Philadelphia Semiconductor Index and Taiwan Information Technology Index declined by 1.51% and 0.36%, respectively [3]. Key Drivers - The strong rise in computing power in North America has become a major sentiment driver, particularly benefiting the switch and server industry chain due to changes in network architecture associated with the ASIC trend [3]. - Positive developments in Sino-U.S. trade negotiations and the implementation of tariffs by the U.S. on Vietnam have contributed to a rebound in consumer electronics, which is directly linked to innovations on the AI front [3]. Notable Companies - The rebound in large-cap stocks such as Industrial Fulian, Pengding Holdings, and Dongshan Precision reflects the integration of AI computing power and edge-side innovations [3].