当下如何布局AI科技？——结合三季度的预期

Summary of Key Points from Conference Call Industry Focus - AI Technology Sector: The call discusses various aspects of the AI technology sector, including overseas and domestic computing power, edge AI, and application endpoints [1][4][5]. Core Insights and Arguments 1. Investment Opportunities in AI Technology: - Four key areas to focus on: overseas computing power (e.g., Xuchuang, New Yisheng), domestic computing power (e.g., SMIC, Huahong), edge AI (e.g., Luxshare Precision, Lens Technology), and application endpoints [1][4]. - Overseas computing power is currently undervalued, while domestic computing power has high long-term certainty due to China's need to catch up with the U.S. in AI capabilities [1][4]. - Edge AI companies are expected to benefit from major tech firms launching new AI smartphones, although their Q3 performance may not fully reflect this potential [1][4]. 2. Market Adjustment and Timing: - The technology sector has been adjusting since September 3, with historical adjustments lasting between 40 to 60 trading days. The current adjustment is nearing its end, with many leading stocks approaching a 20-30% decline [2][3]. 3. Storage Industry Performance: - The storage industry is experiencing strong price trends, with significant price increases for DDR4 and SSD products. The outlook for Q3 and Q4 remains optimistic due to AI-driven demand [3][19]. 4. Gaming Sector Insights: - The gaming sector performed well during the National Day holiday, with revenues exceeding summer levels by 50%. Q3 is noted as the strongest quarter since 2019, with several companies showing triple-digit profit growth [3][15]. 5. Quantum Computing: - Quantum computing holds significant importance in global academia and research, with key players like Guandun Quantum and Hexunqi being highlighted for their potential [1][5]. 6. Domestic Software Development: - The domestic software sector is still at a low level but has substantial growth potential. Key areas include Xinchuang, Hongmeng, industrial software, and EDA [1][6]. 7. Impact of U.S.-China Relations: - The technology sector's volatility is influenced by U.S.-China tensions, but the AI computing direction remains strong. The supply chain for optical modules is stable, and demand is robust [3][7]. 8. Future Market Recovery: - A market recovery is expected by Q4 2026, with overseas computing power companies like Xuchuang and New Yisheng showing strong performance despite current market concerns [10][12]. Other Important Insights - AI's Influence on Gaming: AI technology is expected to significantly impact the gaming industry, with potential for cost reduction and efficiency improvements leading to blockbuster AI game products by 2026 [18]. - Investment Recommendations: Companies such as Giant Network, Kaiyin Network, and ST Huayun are recommended for their strong performance and growth potential [15][17]. - Price Trends in Storage: Recent price increases in the storage industry are driven by supply control and demand from AI applications, indicating a long-term positive outlook [19]. This summary encapsulates the key points discussed in the conference call, providing insights into the AI technology sector, market trends, and specific company performances.