策略:康波周期下的科技竞赛继续打开估值上限;AI 链:端侧增长稳健可持续,应用侧关注ToB 端商业化落地。参考上一轮康波周期中90 年代美股互联网时代的信息技术板块估值,其在推动康波周期上行过程中普遍创下新高,而中国当前的科创估值上限打开程度与彼时仍存在一定差距,因此整体估值或仍有继续上行空间。“十五五”首次提出“抢占科技发展制高点”,从具体方向来看:①卡脖子领域,②未来产业。AI 链:端侧增长...
Source Link策略:康波周期下的科技竞赛继续打开估值上限;AI 链:端侧增长稳健可持续,应用侧关注ToB 端商业化落地。参考上一轮康波周期中90 年代美股互联网时代的信息技术板块估值,其在推动康波周期上行过程中普遍创下新高,而中国当前的科创估值上限打开程度与彼时仍存在一定差距,因此整体估值或仍有继续上行空间。“十五五”首次提出“抢占科技发展制高点”,从具体方向来看:①卡脖子领域,②未来产业。AI 链:端侧增长...
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