【国信电子胡剑团队|1215周观点】春季躁动在即，关注1月业绩催化集中的AI算力+存力链

Core Viewpoint - The article emphasizes the upcoming spring market excitement, focusing on January performance catalysts concentrated in AI computing power and storage chains, while noting the recent weak performance of the electronic sector due to various external factors [3]. Market Performance - In the past week, the Shanghai Composite Index fell by 0.34%, while the electronic sector rose by 2.63%. Among sub-industries, electronic chemicals increased by 6.99%. In the same period, the Hang Seng Tech Index and Philadelphia Semiconductor Index decreased by 0.43% and 3.58%, respectively, while Taiwan's information technology sector rose by 0.79% [3]. Sector Analysis - The recent underperformance of the electronic sector over the past month is attributed to the reduction of national subsidies, export rush in the second quarter, and price increases due to storage shortages, leading to weaker third-quarter reports [3]. - Currently, the sector is in a performance gap period, with some companies expected to benefit from high growth in overseas AI computing demand, particularly as they approach January earnings forecasts [3]. Future Outlook - The anticipation of a spring market rally is supported by expectations for innovations in AI smartphones, AI glasses, and foldable screens in 2026, which are likely to drive interest in the electronic sector [3].