中信建投：AI算力虽景气逻辑不变但波动加剧，建议谨慎追高

Odaily reports that according to a research report by CSC Financial, the following factors will determine the trend of the third-quarter market: In terms of fundamentals, AI computing power continues to maintain a high level of activity, with attention warranted on mid-term report performance and overseas financial reports. At the same time, given the macroeconomic pressure since April, stimulus measures for the economy from the July Politburo meeting will be particularly important. Regarding liquidity, external disturbances are increasing while domestic conditions remain neutral. In terms of risk appetite, geopolitical events and the listing of industry giants will cause short-term market volatility. Considering the linkage effect of global tech stocks, major overseas computing power markets such as Japan, South Korea, and the US also require continuous tracking.

In terms of sector allocation, while the high-activity logic for AI computing power remains unchanged, volatility is increasing. It is advised to be cautious about chasing highs and to position during pullbacks. The lithium battery sector is expected to enter its peak season, energy storage demand continues to recover, and new energy assets may see valuation repair opportunities. Dividend stocks are likely to experience a rebound from oversold levels, offering relatively high allocation value. Key sectors to watch include: banking, coal, utilities, AI, optical modules, storage, chips, industrial metals, and lithium battery materials (VC). (Jinshi)