②中信建投：海外算力链业绩表现亮眼，关注三大投资方向 外围市场： 截至收盘，道琼斯指数跌0.95%，报40,829.00点；标普500指数跌0.77%，报5,606.91点；纳斯达克指数 跌0.87%，报17,689.66点。 热门中概股多数上涨，纳斯达克中国金龙指数涨0.42%，阿里巴巴涨0.86%，京东平收，拼多多涨 0.42%，蔚来汽车跌1.51%，小鹏汽车跌1.00%，理想汽车涨1.70%，哔哩哔哩平收，百度涨1.07%，网易 跌0.76%，腾讯音乐涨1.48%。 券商晨会观点速递 ①华泰证券：继续看好大消费板块基本面逐步向好与龙头估值重估行情 华泰证券研报指出，五一消费延续回暖态势，多数省市假期消费稳健增长，以旧换新及情绪价值消费表 现亮眼。旅游方面，出游意愿提升，文旅消费多元化；离境退税政策提振入境游活力。酒店免税餐饮方 面，酒店价格企稳回升，消费券拉动需求，下沉市场活力更旺。伴随提振消费政策陆续落地，继续看好 2025年大消费板块的基本面逐步向好与龙头估值重估行情。 凤凰网财经讯 5月7日，沪指高开1.17%，深证成指涨1.35%，创业板指涨1.91%。 中信建投研报指出，随着年报与一季报的落地 ...

Investment Rating - The industry investment rating is "Positive" [2] Core Viewpoints - The recent update from U.S. Customs on April 11, 2025, announced a reduction in tariffs for certain products, which is expected to benefit companies like Nvidia and Apple [2] - The tariff impact is now at a low level, presenting a recovery opportunity for the fruit supply chain and computing power chain [2] - Companies in the Apple supply chain have been diversifying their global production capacities, which has shown strategic value following the tariff exemption policy [2] - The Nvidia supply chain is less affected by tariffs due to the production of high-end AI products being largely outside mainland China [2] - Despite uncertainties regarding future tariff changes, the high-value technology products primarily generate profits for U.S. companies like Apple, Nvidia, and Qualcomm, making it counterproductive for the U.S. to sever ties with Chinese suppliers [2] - The current valuation levels of related stocks have significantly deviated from their fundamentals, indicating a potential recovery opportunity [2] Summary by Sections Tariff Impact - The U.S. has updated its exemption list, reducing tariffs on certain products, effective from April 5, 2025 [2] - Relevant product categories include smartphones, data processing devices, integrated circuits, and related components [2] Supply Chain Analysis - The Apple supply chain has established production capacities in countries like Vietnam, Thailand, India, and Mexico, enhancing resilience against geopolitical risks [2] - Nvidia's GB200 series products are expected to enter mass production, with previous restrictions potentially being lifted [2] Recommended Stocks - Suggested stocks in the fruit supply chain include Lens Technology, Lianyi Intelligent Manufacturing, Dongshan Precision, Sunny Optical, and Fuliwang [2] - Suggested stocks in the computing power chain include Industrial Fulian, Shenzhen South Circuit, Huadian Technology, Jingwang Electronics, Shenghong Technology, and Shengyi Technology [2]