Core Viewpoint - The A-share market has experienced increased volatility since November, showing significant signs of style switching, with traditional value sectors like banks and utilities performing well, while previously strong sectors such as metals, new energy, and innovative pharmaceuticals have seen increased fluctuations [1] Industry Insights - The market is currently in a vacuum period regarding performance, events, and policies, lacking a clear direction, which is expected to lead to a primarily oscillating market with a focus on structural opportunities [1] - The overseas AI computing power remains a core focus, with "computing, connectivity, and storage" guiding multiple investment lines [1] - The AI sector is anticipated to have catalysts in the near term, although factors like US-China easing and the return of overseas chips may temporarily reduce the sector's heat without affecting its mid-term allocation value [1] - In terms of AI applications, it is recommended to pay attention to stocks that have seen significant declines and show upward inflection points in their Q3 performance [1] - The AI endpoint requires new hardware forms, with expectations for hardware to be launched by OpenAI next year [1]