BOCOM INTL: Global technology index performance is becoming differentiated, remains optimistic about the prospects of AI development.

BOCOM INTL released a research report stating a leading rating for the mainland technology industry. The report points out that in the past month, global technology indexes have shown differentiation, with storage prices continuing to soar. The bank maintains its forecast that the trend of supply exceeding demand may continue until the end of 2026. The import value of semiconductor manufacturing equipment in October maintained a high-speed growth of 26% year-on-year. The bank continues to be optimistic about the investment prospects of mainland semiconductor equipment and maintains its forecast that the market size will continue to increase by 4.2% to $54.2 billion in 2026 compared to 2025. The bank believes that the potential risks of overbuilding global AI infrastructure are generally controllable and sees good investment prospects related to AI infrastructure in 2026. Compared to comparable companies, NVIDIA (NVDA.US) has recently shown relatively lagging stock performance. The bank believes that the company's leading position in AI computing power has not changed. The bank is bullish on the opportunities in the semiconductor domestic substitution industry chain and recommends focusing on NAURA Technology Group (002371.SZ) and OmniVision Integrated Circuits Group, Inc. (603501.SH).