CITIC Securities: Continues to be optimistic about the fundamental improvement logic of the electronic zone

Jinshi data news on October 22nd, CITIC Securities research report pointed out that after the high Fluctuation in the market in early October, the industry refocused on the fundamentals, following the direction of performance support and zone growth, and continued to be optimistic about the fundamental improvement logic of the electronic zone’s ‘short-term recovery, medium- and long-term AI volume on the terminal side, and continuous domestic substitution’. From the perspective of stability, continue to focus on the main line layout of AI innovation (terminal fruit chain + cloud-side NVIDIA chain); from the perspective of domestic demand and reversal, follow the direction of Android consumer electronics, security, and general components. In addition, the trend of semiconductor domestic independence is still clear, and it is recommended to focus on the development opportunities brought by the trend of mergers and acquisitions.