中信建投研报称，近期，算力板块走势比较纠结。中信建投预计一是因为市场对2027年的需求展望仍存 分歧，二是板块持仓较重。中信建投认为调整是机会。目前，AI大模型仍在持续迭代升级，算力需求 旺盛，站在中期视角中信建投仍建议持续重视AI板块。一方面，中信建投持续推荐AI算力板块，包括 北美算力产业链与国内算力产业链的核心公司；另一方面，中信建投也建议关注AI应用板块，特别是 端侧AI Agent的进展。此外，中信建投也建议关注未来可能边际改善的海缆及光纤光缆板块、军工通信 及商业航天板块，国内外巨头纷纷加码的量子科技板块。 ...

Group 1 - The core viewpoint is that AI demand remains strong, with TSMC indicating that AI demand is even stronger than expected three months ago, leading to tight AI capacity and ongoing efforts to increase Cowos capacity by 2026 [1] - The AI wave is driving an explosion in computing power demand, significantly increasing the value in sectors such as servers, AI, optical modules, storage, and PCBs [1] - Global shipments of AR smart glasses are expected to grow by 50% year-on-year in the first half of 2025, highlighting the immense potential of edge AI, with headphones and glasses likely to become important carriers of edge AI agents [1] Group 2 - The Consumer Electronics ETF (561310) tracks the Consumer Electronics Index (931494), which selects listed companies involved in the manufacturing of smartphones, home appliances, wearable devices, and related industries to reflect the overall performance of the consumer electronics sector [1] - The index is characterized by high technological content and growth potential, effectively representing the overall development trend of the consumer electronics industry [1]