Guotai Junan Securities: 2026 could be a key year for the recovery of the foldable screen market in China.

Galaxy Securities' research report indicates that the computing power sector is still in the stage of performance realization, with relatively moderate valuation levels. In the second half of the year, they continue to have a positive outlook on computing power-related PCB, domestic computing power, IP licensing, chip inductors, etc. 2026 may become a key year for the recovery of the foldable screen market. The rumored foldable product from Apple is expected to drive discussions on the overall category and may bring new considerations in software interaction and hardware design, further stimulating market demand. Additionally, new wearable devices launched this year are also expected to drive market recovery. Through technological breakthroughs, ecosystem integration, and market penetration, AR glasses manufacturers are pushing AR glasses from "niche geek toys" to "mainstream intelligent terminals for the public." With the maturity of AI+AR technology, smart glasses are expected to become the next mainstream computing terminal after smartphones.