CITIC Securities: Looking optimistic about investment opportunities in the oversold electronics sector.

The research report of CITIC Securities believes that since July, the technology sector has undergone a significant adjustment, with the valuation of related targets clearly falling. However, the fundamentals of autonomous and controllable, AI components, supply chain price increases, and consumer electronics have not reversed. Some specific sub-sectors are currently undervalued and have not fully reflected future order growth, price increases, and performance realization expectations, showing strong potential for oversold recovery. The performance upswing of domestic semiconductor equipment and domestic computing power has become more apparent, and the supply and demand outlook for PCB, storage, AI power, and other links underpinned by global AI demand will continue to remain strong. At the same time, the AI industry chain market is expected to gradually spread to consumer electronics, with continued optimism for the above-mentioned directions.