短期来看，我们维持谨慎观点。定增解禁高峰将至（12 月规模为过去三月总额）和明年 1 月起外延并表效应（行业并购潮 14 年初开始，按三年承诺期计）加速递减，是需要考虑的因素。如果计算机指数短期随大盘补涨，我们认为也限于反弹。但长期来看，我们并不悲观。股价从超长周期来看，只是产业趋势的映射。冬至将至，春天未远。从互联网到人工智能，以计算机为代表的创新驱动无疑代表着中国未来。

Financial services are the services offered by the financial sector to help credit companies, insurance companies, account companies, banks, investment fund firms, and finance firms to manage capital. Advances in technology have led to the growth of the financial services industry. Ongoing operational costs in the industry can be significantly reduced with the adoption of cloud computing. It helps financial industries expand their geographical reach and increase customers base.

Smart grid cyber security involves protection against serious cyber threats that affect the users of smart grid technology globally. Security of the smart grid network has been an area of concern for the power utility sector, given the frequent exchange of sensitive information that takes place via communication networks such as the internet, intranets, corporate networks, and extranets. The power utility sector needs various controlling techniques to moderate the adverse effects of unauthorized access of smart grid data. For instance, hackers could assume control of smart grid applications and servers and access confidential information. Hence, the smart grids require security measures that not only administer these systems and equipment efficiently but also ensure a secure exchange of information between these systems.

Pressure sensitive labels in product packaging act as sources of information on pack contents, help in locating products through barcodes, tracking, tracing and authentication of devices and are also useful for promotion and decoration. Pressure sensitive labels are a valuable and easily accessible marketing tool that helps manufacturers to apply labels directly on products.

许多传统企业由于在资金以及供应链方面拥有比较强大的实力，因而可以在转型做电商的过程中一下子投入几千万元用于电商运营、广告购买以及品牌推广等，并期望在如此投入下能够立即把握电商大势，实现线上销售的突破。但往往就是这种急于求成、不顾电商运营节奏的做法让许多传统企业走了不少弯路。

2016年截止11/24， WIND通信行业指数下跌12.59%，位居中流（第18/29位），仍有超过20只、 30%个股全年实现正收益，涨幅前10的个股中（扣除不可比公司），六只为光通信板块个股。行业高景气、市场风格偏好变化，铸就光通信作为2016年通信行业投资主线的地位，结合物联网、 5G的阶段性主题机会。

2016年前三季度，通信行业A股市场71家样本公司，共实现营收3726亿元，同比增长6.1%，实现归属于母公司股东净利润为106亿元，同比增长9.4%。通信行业总体净利润稳定增长，公司盈利能力持续改善。展望2017年，通信行业呈现出以下趋势和特点：5G尚远，通信行业近期整体投资呈现下滑趋势，其中以无线投资下滑最为明显。在传统通信领域，关注有线部分，紧抓有基本面支撑的光通信依旧是2017年通信行业投资主线之一。物联网接棒互联网，以“智慧”应用为主线，万物互联将带来传统通信行业外延拓展的主流投资机会，物联网相关领域或呈现爆发式增长态势。