Wind data shows that as of November 14, since the Shanghai Composite Index hit a new low for the year on October 23, the CSI Semiconductor Industry Index has risen by 9.14%, far exceeding the 2.45% increase in the index during the same period. Orient Securities stated that the overall prosperity of semiconductors is reaching an upward turning point, and the weak links of equipment are expected to continue to break through. It is recommended to pay attention to investment opportunities in the industry chain.
In response to this round of semiconductor investment boom, Shao Jie, manager of the China-EU Science and Technology Innovation Theme and China-EU Intelligent Manufacturing and other product funds that focus on semiconductor technology and other technology fields, recently said in an interview that the entire semiconductor industry is now at the beginning of recovery, and the direction of innovation has also been It is clear that now may be the best time to pay attention to this industry.
Analysts believe that the rapid development of AI technology will effectively drive the growth of the semiconductor industry, because AI innovation is not only expected to bring greater opportunities to the downstream smart hardware market, but may also drive the upstream chip industry.
Because AI consumes not only high-end computing power, but also edge computing power brought by hardware is gradually increasing, which will become a major factor driving the growth of the entire semiconductor industry. Looking back at every development of the semiconductor industry in the past, each cycle has been superimposed on the two factors of recovery and innovation.
"There are also many directions for innovation in the localization of semiconductors. On the one hand, it is to follow the pace of global competition. On the other hand, it is necessary to make breakthroughs in some links based on China's own situation." Shao Jie further pointed out that the development of the semiconductor industry is also in line with The great wave of AI innovation is backed by a huge domestic market in its development process. The domestic population base contains large consumption power. Once China's consumer electronics and mobile phone industry consumer markets open up, the semiconductor industry will also usher in considerable market development opportunities.
When talking about technology-themed investments, including semiconductors, Shao Jie said frankly that the anchor of technology investment lies in tracking the dynamic evolution of the underlying technology, that is, there are three main aspects for judging the value of stocks.
The first is foresight, that is, before hot spots have arrived or before cross-cutting revolutions have emerged, continuous tracking is needed to ensure that the moment hot spots appear, we can understand which ones are real innovations and which ones are real benefits. point.
The second is speed, which is related to foresight, because during this process, if you know the industry before and wait until its future revolution arrives, the reaction speed will naturally be faster. Once a hot spot appears, the investment research team must cooperate well to find the corresponding industrial chain in the hot spot and dig deeper.
Shao Jie continued to point out the importance of the third point of experience, “Technology investment often contains the outlook for the future space and the judgment of investor sentiment. Therefore, the judgment of the value of the future space and the current stock price valuation contain how much influence it has on the future space. The manifestation of market optimism is a test for investment personnel. Experienced investors have better discernment, especially in the long-term space of stocks, and will have a clearer understanding."
Shao Jie finally believes that from the current point of view, when U.S. bond yields decline, growth sectors represented by technology stocks tend to perform better in terms of valuation elasticity and risk appetite. In the future, in an environment where U.S. bond interest rates continue to relax, not only technology stocks, but also the entire A-shares and H-shares can expect better performance.
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