Core Summary: The dual innovation continues to adhere to the trend, and even if technology adjusts, it is difficult for non-technology sectors to achieve significant recovery; industrial support remains core. Overseas computing power PCB is leading the way, and the semiconductor's significant rise followed by a normal adjustment is a sign that sentiment has been digested. Non-ferrous metals are catalyzed by expectations of bauxite export controls and rising aluminum premiums. Strategically, we should stick to genuine industrial trends and observe solid progress.
[Macro]
US-Iran Dynamics:
Before the market opened, the US attacked southern Iran, and Israel attacked Lebanon.
Iran denied reaching a 14-point memorandum of understanding with the US, calling related reports &#34;pure fabrication.&#34;
Main point of contention: the issue of unfreezing $24 billion in funds.
China-Pakistan Relations: A joint statement was issued, reiterating the five-point initiative for restoring peace in the Middle East and exploring cooperation potential in areas such as trade, energy, and AI.
Shenzhen Planning: The &#34;14th Five-Year&#34; planning outline aims for a GDP exceeding 5 trillion yuan by 2030, with real-time available computing power exceeding 150 EFlops.
Lunar Base: The US announced a three-phase roadmap for lunar base construction.
Related ETFs: A500ETF (560610), Non-ferrous Metals ETF (159690)
[Artificial Intelligence &amp; Computing Power]
Intel: Betting on next-generation advanced packaging and silicon photonics, plans to make its New Mexico factory the world's first mass production base for glass substrates.
Computing Power Planning: Shenzhen aims for real-time available computing power to exceed 150 EFlops by 2030, with some domestic chip indicators reaching international advanced levels.
Optical Module DSP: It is reported that Chuanxin Yisheng has finalized a 2027 DSP chip procurement order—30 million for 800G and 21 million for 1.6T, with Broadcom as the main supplier.
Materials: It is reported that the orthogonal backplane material mixed with PTFE (S5300) + m9q + ABF (SF09) has been recognized by NVIDIA.
Model Update: A wave of intensive updates for AI models is expected in June.
Alipay: Launched Token Pay to help large model companies meet subscription recharge needs.
Related ETFs: Cloud Computing ETF (159890), ChiNext AI ETF (159243), Sci-Tech Innovation 50 ETF (588300)
[Semiconductors]
Micron Technology: UBS significantly raised its target price from $535 to $1,625, estimating that EPS will remain above $100 from 2027 to 2029. Micron rose over 19% on Monday, with a market value exceeding $1 trillion.
SK Hynix: Released &#34;iHBM&#34; integrated cooling technology.
Related ETFs: Semiconductor Equipment ETF (561980), Sci-Tech Innovation 50 ETF (588300)
[Robotics]
Exoskeletons: From January to April, the retail sales of smart assistive exoskeletons grew by 785.5%.
Related ETFs: Robotics ETF (560770)
[Satellites]
China successfully launched the 24th communication technology test satellite
Related ETF: Satellite ETF (159218)
【New Energy &amp; Automotive】
The Ministry of Industry and Information Technology released key points for automobile standardization work, accelerating safety standards and power battery safety requirements.
Guangzhou's &#34;Commercial to Public Loan&#34; has been implemented, with the loan ratio raised to 80%.
In April, domestic mobile phone shipments reached 25.733 million units, a year-on-year increase of 2.8%.
Related ETF: New Energy Vehicle ETF (159183), Battery ETF (561910), Sci-Tech Innovation and Entrepreneurship 50 ETF (588300)
【Non-ferrous Metals】
Guinea: Plans to announce bauxite export control reform measures next month to boost prices.
Aluminum premium: Global aluminum producers are seeking to set the premium for Q3 shipments to Japan at USD 480/ton, an increase of 36%-37% from the current quarter.
Tungsten: The U.S. is globally searching for tungsten resources; sellers expect tungsten concentrate prices to stabilize in the recent range of 300,000-400,000, with the possibility of price surges from major buyers.
Related ETF: Non-ferrous Mining ETF (159690)
【Strategy Observation】
Market Performance: Yesterday's trading volume was 3.24 trillion, with an increase of 37.9 billion. The dual innovation maintains its trend, and even if technology adjusts, it is difficult for non-tech sectors to achieve significant recovery.
Sectors and Themes:
Leading Directions: Non-ferrous metals, building materials (electronic fabrics), non-bank financials. Mid-low tier sectors showed resilience during the single-day adjustment, but without directional significance.
Overseas Computing PCB: Dominating the market, Yi Zhongtian (Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication) remained stable.
Semiconductors: A normal adjustment after a big rise, but with significant volatility. The short-term sentiment brought by the &#34;Tao's Law&#34; has largely been digested, adding new hopes for the future.
Industry Trend Thoughts:
Domestically, there is no pursuit of leading in advanced processes, only a desire for more paths to take.
Currently, the subjective funds are firmly focused on genuine industrial trends and solid progress. There are fewer dreams—overtrading will be ruthlessly harvested by cold machines (quantitative).
Operational Thoughts:
Focus on directions with substantial industrial support (overseas computing PCB, semiconductor equipment, non-ferrous price increase chain, etc.), maintaining patience during fluctuations and not being swayed by short-term emotions.
Related ETF: Semiconductor Equipment ETF (561980), Cloud Computing ETF (159890), ChiNext Artificial Intelligence ETF (159243), Non-ferrous Mining ETF (159690), Sci-Tech Innovation and Entrepreneurship 50 ETF (588300)
Risk Warning: The above content is only a summary of market information and does not constitute any investment advice. Mentioned individual stocks and ETFs are for analytical reference only and are not recommendations. The market has risks, and investment should be cautious

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The dual innovation continues to adhere to the trend, with technology adjustments not significantly repaired, and industrial support as the core. Overseas PCB performance is outstanding, and the semiconductor's oscillation adjustment is normal. Expectations for export control of bauxite are driving the rise of non-ferrous metals. Tensions between the U.S. and Iran are high, while China and Pakistan reaffirm cooperation. Shenzhen plans for a GDP exceeding 5 trillion by 2030, with a computing power target of 150 EFlops. Intel plans new factories, and a wave of AI model updates is about to arrive

- The article discusses ongoing trends in technology investments, highlighting that non-tech sectors struggle to rebound even amidst tech adjustments.  
- It notes significant events, including US military actions in Iran and developments in semiconductor and AI sectors, while emphasizing a focus on substantial industrial fundamentals.  
- Strategies suggest patience and adherence to sectors with solid industrial backing, such as overseas PCB and semiconductor equipment, amid market volatility.

同壁财经

Intel

GraniteShares 2x Long INTC Daily ETF

SPDR S&P Semicon

Direxion Semicon Bull 3X

iShares Semiconductor ETF

VanEck Semiconductor ETF

China Merchants CSI A500 ETF

China Merchants CSI Nonferrous Metal Mining ETF

Eoptolink

Broadcom

NVIDIA

China Merchants CSI Cloud Computing and Big Data Theme ETF

China Merchants SZSE ChiNext Artificial Intelligence ETF

China Merchants CSI Scientific Innovation and Entrepreneurship 50 ETF

Micron Tech

UBS Group AG

China Merchants CSI Semiconductor Industry ETF

China Merchants CSI Robot ETF

China Merchants CSI Satellite Industry ETF

China Merchants CSI New Energy Vehicles ETF

China Merchants CSI Battery Theme ETF

Zhongji Innolight

NVIDIA Corporation

5.26 Pre-Market Overview | Innovation and Entrepreneurship Maintain Trend, Nonferrous Metals and PCB Lead, Semiconductor Volatility Digestion