核心观点2025Q3,通信板块营收、净利润增速同环比均提升。AI 算力板块表现亮眼。公募基金和北向资金通信行业持仓市值占比分别达6.87%和2.82%,均创历史新高。目前申万通信PE-TTM 为43. 41,处于5 年以来96.53%分位点,处于10 年以来67.26%分位点。虽然随着预期落地,三季报后板块有所调整,但我们持续推荐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。此外,...
Source Link核心观点2025Q3,通信板块营收、净利润增速同环比均提升。AI 算力板块表现亮眼。公募基金和北向资金通信行业持仓市值占比分别达6.87%和2.82%,均创历史新高。目前申万通信PE-TTM 为43. 41,处于5 年以来96.53%分位点,处于10 年以来67.26%分位点。虽然随着预期落地,三季报后板块有所调整,但我们持续推荐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。此外,...
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