市场跟踪：市场表现：全球科技在10月初整体反弹；市场情绪与估值：A股TMT行业换手率从极低区域回升。资金跟踪：北向资金：TMT板块在连续四周净流出后，重回净流入；公募基金： 截至2020年9月30日，9月新成立主动型公募基金73支、发行份额1512.26亿，数量月环比增加，规模月环比减少但连续4个月超过千亿；重要股东减持：市场整体和TMT板块有所回升

整合型信息流平台综合优势更强，是未来行业发展趋势；整合型信息流平台触达能力更强，精准定向目标人群；创意服务能力值得关注，可有效帮助广告主降本提效；评估平台后链路营销能力，重视广告效果优化和二次转化；重点关注用户活跃、互动、投放环境等软性增量价值；

Hadoop is an open-source software administered by Apache software foundation. It is a distributed processing technology, which can be used in different sectors for Big Data analysis. Hadoop is more cost-effective solution as compared to traditional data analysis tools such as relational database management system (RDBMS). Apache Hadoop is a simple, powerful, efficient, and shared platform. However, Hadoop technology deployment provides features such as scalability, which helps in reducing operating cost and use of commodity hardware for reliable distribution. Hadoop-based applications are used by organizations which require real-time analytics from data such as video, email, machine generated data from a multitude of sensors, and data from external sources such as social media and the internet. Hadoop-as-a-service enables technical experts of organizations to perform several operations, which include big data analytics, Big Data management, and big data storage in a cloud. The HaaS platform enables organizations to use Hadoop technology in a highly cost-effective manner along with ensuring minimal consumption of time. This report features information on Hadoop-as-a-service offered by key vendors. Furthermore, it highlights strategies adopted by key market players to improve their market share and sustain competition.

Hadoop is an open source software administered by Apache software foundation. It is a distributed processing technology that can be used in different sectors for big data analysis. It is much cost effective compared to traditional data analysis tools such as Relational Database Management System (RDBMS). Apache Hadoop is a simple, powerful, efficient, and shared platform. However, Hadoop technology deployment provides features such as scalability, which helps in reducing operating cost and use of commodity hardware for reliable distribution. Hadoop-based applications are used by organizations that require real-time analytics from video, email, machine generated data from a multitude of sensors and from external sources such as social media and the internet. Hadoop enables technical experts of organizations to perform several operations which include big data analytics, big data management, and big data storage in a cloud. The Hadoop as a Service (HaaS) platform enables organizations to use Hadoop technology in a highly cost-effective manner, along with ensuring minimal consumption of time. Hadoop is mainly a software framework which is used to manage data and storage for big data applications in clustered systems. It gives users the ability to collect, process, and analyze data. Despite Hadoop being the leader, not all organizations are capable of installing as well as maintaining in-house Hadoop environment. Users do not have to invest in or install additional infrastructure on premises when using the technology, as it is provided and managed by a third-party vendor. Customers using HaaS, do not need to invest in or install additional infrastructure on their premises. This helps them to concentrate on their core businesses.

上周市场回顾：上周，沪深300 上涨2.18%，上证综指上涨2.43%，深证成指上涨2.23%，创业板指上涨2.29% ，中小板指上涨2.35%，通信行业上涨2.33%。

虚拟电厂（VPP, Visual Power Plant）指通过先进信息通信技术和软件系统，实现分布式电源、储能系统、可控负荷、电动汽车等DER 的聚合和协调优化。

投资建议：三季度，预计5G 基站上游等部分细分市场增速有所放缓，设备、物联网、统一通信、终端泛射频等环比增长趋势明显，IDC 服务与制冷、交换机等云计算细分产业链需求仍强劲，环比增长趋势延续；近期板块调整幅度较大，行业进入三季报预期发酵期，短期建议关注三季报超预期个股，重点推荐亿联网络、移远通信、乐鑫科技、新易盛、中际旭创、信维通信、数据港。

长期看好 5G 下游应用，重点推荐 IDC 板块、光模块板块及物联网板块等高确定性子版块，建议关注 IDC 机房制冷龙头企业、5G 短消息、物联网下游模组应用、通信军工业务等近期热点子版块。

2020 年9 月17 日，中证网报道，为统筹推进紫光集团旗下公司和资产拆分上市事宜，紫光集团已成立资产上市工作推进部，并任命刘旭黎为紫光集团高级副总裁兼资产上市工作推进部总经理。据中证网报道，除已启动科创板上市的紫光展锐外，紫光集团旗下紫光联盛、西安紫光国芯、紫光华智等未来有望分拆上市。紫光集团是国内芯片/云计算龙头。紫光集团上半年资产负债率有效降低，并加速打造科技产业上市公司集群。建议关注紫光集团旗下上市公司紫光股份、紫光国微，以及未来可能上市的紫光展锐、紫光联盛、西安紫光国芯、紫光华智、长江存储等。

全球疫情及地缘政治风险下，国内政策驱动5G 建设稳步推进，有望保障云计算和物联网产业持续景气，建议积极关注通信行业“流量”+“连接”的成长逻辑，重点推荐5G 产业相对后周期的亚信科技、5G 大带宽相关的网宿科技、IDC 板块具有较大预期差的科华恒盛、物联网板块盈利能力领先的广和通等。