Brokerage Morning Meeting Highlights | The focus of AI pricing will shift from "price increase" to "volume increase"

Last Friday, the three major indices all closed higher, with the ChiNext Index showing strong performance. The total trading volume of the Shanghai and Shenzhen stock markets was 2.14 trillion yuan. In terms of sectors, concepts such as CPO, computing power leasing, food and beverage, pharmaceuticals, and liquid-cooled servers exhibited active performance. On the downside, high-priced stocks collectively fell, and the power sector experienced turbulent adjustments. By the close, the Shanghai Composite Index rose by 0.01%, the Shenzhen Component Index increased by 0.45%, and the ChiNext Index was up by 1.12%. In today's brokerage morning meeting, Guotou Securities believes that the focus of AI pricing will shift from "price increases" to "volume increases"; Huatai Securities suggests that during the fluctuation period, the economy will rebalance along with expansion; East Money Information Securities recommends paying attention to the recovery of quality blue chips. Guotou Securities: The focus of AI pricing will shift from "price increases" to "volume increases" After each major drop or high-speed cut, changes always occur. Some varieties will never bounce back after a decline, and the most sustained rebounds may not even come from the varieties that fell the most previously. Even if the main line remains unchanged, the core varieties will change over time. This indicates that the focus of AI pricing will shift from "price increases" to "volume increases" (AI software and hardware are leaning towards volume-increasing sectors). Huatai: Rebalancing along with the expansion during the fluctuation period Last week, overseas disturbances intensified, with rising expectations of interest rate hikes in Japan tightening global liquidity expectations. Hong Kong stocks, especially the Hang Seng Technology Index, faced pressure, while A-shares showed fluctuating differentiation, with weak continuity in the main line. In the short term, the oversold bounce in innovation and entrepreneurship is nearing its end, and the market is entering a phase of fluctuations and rebalancing. In the medium term, July's economic data indicates strong external demand while internal demand is weak phase-wise, with effective demand waiting to be catalyzed. However, the improvement in the mid-term economy is spreading, and the upward revision of profit expectations aligns with signs of economic improvement. The basis for an upward trend remains unchanged, with attention on the signals from the policy window and the breadth of profit recovery in the third quarter. In terms of allocation, the AI chain remains the top choice, led by communication equipment, followed by domestic computing power chains and AI electricity; other directions of interest include leading CXO stocks with strong profit expectations, non-ferrous metals, and leading companies in the overseas chain; holding onto the dividend bottom warehouse continues, with allocation in low-volatility banks and transportation. East Money Information Securities: Focus on the recovery of quality blue chips Due to public funds having a historically high level of concentration in major stocks at mid-year, and the recent trading congestion remaining at a high level, the market has experienced an overall rebound. After stabilizing their positions, most investors still need to consider rebalancing their allocation, and the overall market rebalancing process may still take some time. Key sectors to watch include: pharmaceuticals, non-ferrous metals, media, coal, new energy, brokerages, chemicals, military industry, new consumption, and the Internet. Key themes to focus on include: AI applications, commercial aerospace, humanoid Siasun Robot & Automation, and so on. This article is reprinted from "Cailian Press," GMTEight editor: Jiang Yuanhua.