AMOLED 打开近千亿美元市场空间，17、18 年迎来爆发：AMOLED 目前来看是电子行业确定性最高且最快到来的趋势性投资机会，我们看好其在智能手机中的替代性应用机会、在 VR、可穿戴设备中的成长性应用机会。2015-2019 年这三大领域的合计市场规模在将近千亿美元，而 2017、 2018 年将是集中爆发的两年，市场增速分别达 54%、40%。

宝马集团联合英特尔与 Mobileye，共同开发自动驾驶， 预计到 2021 年实现高度自动驾驶车辆和全自动驾驶车辆量产； 蔚来汽车完成数亿美元的 B 轮融资； 2016 夏季达沃斯论坛期间，百度总裁张亚勤表示，百度无人车项目计划三年商用五年量产。 多领域的跨界合作将加快智能驾驶产业进程， 智能驾驶到 2020 年实现商业化成大概率事件。 特斯拉在官网公开第一起因为使用 Autopilot 功能致死的交通事故， 自动驾驶并不会因为一次事故而放慢脚步， 促进法规逐步完善，传感器（摄像头与雷达）作为辅助驾驶的眼睛与耳朵，现阶段已可以实现辅助驾驶，未来实现半自动驾驶与完全自动驾驶，需要高精度地图与 V2X 车联网、深层次的人工智能共同实现，看好技术进步与法规完善带来的自动驾驶加速到来。

展望 2016 年下半年，全球传统消费电子市场增速继续放缓，半导体行业将继续低迷；然而中国大陆半导体产业投资额大增，政府大力推动集成电路产业的发展。主题方面，关注集成电路国产化，重点是海外并购机会；OLED 行业进入爆发前夜，也是重要的投资机会。

T&M equipment is used for testing and measuring various electronic/mechanical devices throughout their life cycle. It is used in the initial design, development, verification, maintenance, and repair stages of various electronic and mechanical products. Smartphones, digital cameras, MP3 players, and solar inverters use T&M equipment. In addition, mechanical products that use T&M equipment include turbines, automotive car suspension, and aircraft propulsion systems. Depending on geographical requirements, the use of T&M equipment can vary from simple to complex automated devices. T&M equipment enhances the efficiency, reliability, and accuracy of electronic/mechanical products under focus.

The global population is projected to reach 9 billion by 2050. This rise in population will lead to an increase in demand for wood for houses, furniture, fuel, pulp, and other needs. This, in turn, will increase the demand for forest equipment such as chainsaws. They are not only used by loggers but also by end-users at home for gardening, sculptors for sculpting wood or ice, carpenters, and others.