Guide: ① The recent market is still dominated by structural market conditions. The AI industry chain is the core main line of the current market; ② After the AI hardware direction continues to strengthen, software applications may make up for rising expectations. Today, we can keep an eye on the fermentation of the new concept of AI production in 3D; ③ Sichuan Jinding successfully backed off yesterday afternoon. Today's market feedback is of great reference significance for short-term sentiment

Yesterday, the market recently continued its volatile upward rebound trend, and while the turnover of the two markets remained above trillion dollars, it also showed a moderate expansion trend. However, it should be noted that market differentiation began to intensify. Individual stocks showed a trend of falling more and less yesterday, and micro-capitalization stocks were the first to fall into adjustment. As was emphasized over and over again in recent main articles, it is still appropriate to view the current market as a structural market. The focus of response is still on the core main line.

Looking at the market, AI is currently still the absolute main line in the current structured market environment. First, from the perspective of leading sector growth, hardware AI servers, CPO, liquid cooling, and computing power exploded again yesterday. Furthermore, judging from the ranking of individual stock turnover in the two markets, most of the top ten individual stocks come from the direction of pan-AI technology. As the AI market continues, individual stocks with high recognition and high capacity are expected to not only rotate healthily in the AI sector, but also play a role in supporting and boosting the growth of the index as a whole to a certain extent. Therefore, the upward structure of such high-volume targets has not been clearly broken, and the current AI market may still be expected to continue.

However, from the perspective of sector rotation, the probability that software applications will make up for the increase after the AI hardware direction continues to strengthen. Combined with AI generation 3D concepts that were active in the market yesterday, it is expected that this direction will continue to ferment further. On the other hand, it can be noted that the direction of memory chips in the market yesterday was also hyped up by capital expansion, and its core driver is still the increase in demand for AI phones and servers. If this logic is used to spread, we may be able to keep an eye out for opportunities to make up for the increase in electronic components such as PCB boards and MLCCs throughout the semiconductor industry chain in the future.

Looking back at the direction of short-term on-board speculation, it is currently still within the correction cycle after the end of Klay Mechatronics. Financial feedback from high-ranking stocks is poor. Yesterday, Dongfang Precision, Huiyuan Communications, and Dayilong all staged a “sky floor” in the market. However, it should be noted that funds were already being tried to fix the game yesterday afternoon. The most typical example is the rise, stop, and blockade of Jinding in Sichuan. As the core of the hype about short-term hydrogen energy and the current highest level, whether it can continue to strengthen today has great reference value for recovering short-term sentiment.

Overall, the current market hype style is more biased towards high-volume trend targets. In the future, we can focus on short-term shocks and opportunities to step back, or focus on the segmentation direction that has just begun in the AI industry chain to make up gains.