积极配置半导体设计龙头。①半导体：建议关注设计、制造龙头，包括卓胜微、韦尔股份、兆易创新、紫光国微、北京君正、中芯国际、华峰测控、北方华创、鼎龙股份等。②消费电子：建议关注歌尔股份、立讯精密、蓝思科技、领益智造、联创电子等；③电子周期品：面板建议关注京东方和TCL，MLCC 建议关注三环集团。长期仍持续看好三大运营商基本面向好趋势，中期建议关注网络可视化、光模块、IDC、专网等低估值领域，短期核心资产反弹关注亿联。

昆仑芯片是百度自主研发的云端AI通用芯片，为深度学习、机器学习算法的云端和边缘端计算而设计。基于过去10年在计算芯片领域的积累，百度加大创新投入，致力于在智能计算和半导体领域打造出领军企业，并于近期将昆仑芯片业务拆分为独立公司——昆仑芯（北京）科技有限公司，其在今年3月完成独立融资，领投方为CPE源峰，投资方包括IDG、君联、元禾璞华等，估值约130亿人民币。

虚拟机于20 世纪70 年代被首次推出，指通过软件仿真出一台或者多台计算机的各种硬件，用户可以在虚拟机上安装、运行操作系统和各种应用，并且把对硬件资源的访问转发到底层的硬件上来实现，这样做目的是充分利用大型机系统的集中计算能力。但是到了8、90 年代，x86服务器和Linux操作系统横空出世，相应的，通过廉价的服务器和个人计算机建立分布式计算模型的模式风靡一时，成为新的行业标准，虚拟化被弃之不用。

行业高景气映射至上市公司业绩加速，坚定看好军工板块的中长期空间，优先选择军工高景气子行业兼顾业绩增速、中长期空间作为整体配置的主线，重点包括导弹武器装备、航空主战装备、信息化/军工电子、军民融合等领域。

Many players in the global AI in operating room market have products and solutions which cater to applications such as scheduling, diagnosis, training, and instrument tracking for most of the indications. However, with time, new market entrants are expected to target niche applications and indications. Given the nature and the early phase of developments in the market, many companies have products in the pipeline, and more new players can be continuing their research and development in stealth mode. Thus, it is to be noted that the current market share of companies is subject to change significantly during the forecast period 2021-2030. The following figure indicates the estimated market shares for key players in the global AI in operating room market.

Use of artificial intelligence (AI) technologies such as machine learning, natural language processing, computer vision, and context awareness computing improves efficiency of several activities that fall under the aerospace domain such as flight operations, better customer service, predictive aircraft maintenance, and manufacturing of aircraft components. The aerospace industry is in its initial phase of adoption of AI. The aerospace sector is witnessing increase in number of applications and more disruptive AI models are expected to be developed over years. Artificial intelligence is anticipated to play an important role in minimizing design process duration, prototyping, manufacturing, cutting costs, and is projected to result in numerous enhancements in the aerospace industry in the future.

亚太地区实现包容性发展的目标可能会受到该地区新连通性项目增长的阻碍。本文确定了现有的海上和信息技术能力方面的地区性差异，认为因为一些国家有更多能力开发新的运输和通信网络，所以经济差异可能扩大。本文认为，亚太经济合作组织的主要行为体，例如中国和澳大利亚，应该进行强有力的区域政策协调与合作，从而避免此类后果。

今年“618”家电行业整体线上规模仍延续着稳步扩容，背后一方面 由于线上流量红利持续体现，另一方面也受益于部分低渗透率家电细分赛道快速扩容。大家电：集成灶赛道线上持续放量。小家电：清洁电器景气度一马当先。维持行业“看好”评级。

618 战报总结：家电总销额再创新高，平台渠道改革显成效，高端、 创新品类增长明显。618 大促期间家用电器销售总额再创新高。高端、创新品类增长明显。原材料价格回落，成本压力得以舒缓。原材料价格持续上行、汇率波动、下半年新品销售不及预 期。

618 清洁&投影电器高景气，5 月总体数据则平淡。空调出货、零售表现偏弱，冰洗相对较好。厨电：集成灶线下 KA 高增。小家电：厨小 5 月零售受 618 虹吸有所回落，清洁电器、扫地机韧性较好。从 5 月数据看，传统大家电整体零售、出货表现仍处短期承压，预期 后续会随原材料价格见顶回落而逐步改善；扫地机、投影仪等新兴细分品类 仍有相对较好增速，我们看好低渗透的科技消费品在中国的持续成长。