智通财经APP获悉，广发证券发布研究报告称，虽然近期市场的回调，让部分投资人开始对市场的情况有所担忧，但是目前4000点左右的位置，建议大家 重拾信心、重整旗鼓，备战马年的第一波上涨周期。展望后续1-2个月，A股很可能迎来一段"天时地利人和"的上涨机会。配置方向上，广发证券认为， 类比去年机器人，今年可能类似的方向包括字节产业链(春晚投流，对应AI应用和国产算力)、太空光伏等。 在今年元旦后的报告中，广发证券曾经提到： "岁末年初的路演中，我们观察到有不少绝对收益的资金，在新的一年都有权益资产配置的需求，无非是时点选择的问题。交流下来，大家普遍认为，虽 然1月行情如何存在分歧，但是开年上证指数4000点左右的位置，大概率不是2026年指数的高点，于是，很多资金抱着"晚买不如早买"的心态，在元旦后 马上就加仓A股" 指数随即开启一波快速上涨。 如今，经历了1月份的潮起潮落，上证指数再次回到了4000点附近的位置，那么上述逻辑是否会再次演绎? 首先，过去一个月中影响市场的一个重要变量——各类宽基ETF持续大幅度流出，目前来看已经基本告一段落。如下图所示，1.15日至1.29日期间，宽基 ETF经历了连续两周的大幅 ...

Core Viewpoint - The current rebound in A-shares has lasted for three months, and the continuation of this trend depends on the triple resonance of policy, earnings, and capital flow, with short-term fluctuations expected but medium to long-term potential remaining [2]. Group 1: Supporting Factors - Policy Support: Continuous measures to activate the capital market [3]. - Earnings Turning Point: Q3 corporate profits are expected to turn positive [3]. - Capital Improvement: Inflows from northbound capital and a recovery in margin financing [3]. Group 2: Potential Risk Points - Economic recovery is weaker than expected [4]. - Tail risks from Federal Reserve interest rate hikes [4]. - Rapid overheating of market sentiment [4]. Group 3: Operational Recommendations - Focus on sectors with certainty in Q3 performance [4]. - Avoid chasing stocks that have already risen significantly [4]. - Maintain balanced allocation and control positions [4]. Conclusion - A-shares are still in the process of valuation repair, but investment strategies should shift from "beta frenzy" to "alpha digging," emphasizing rational participation to seize opportunities amid volatility [4].