CITIC Securities: Should investors hold technology stocks during the holiday?

Alibaba announced the "Three-Year 380 billion yuan AI infrastructure construction plan" and the plan to increase global data center energy consumption by 10 times by 2032, strengthening the long-term logic of domestic computing power investment at the Alibaba Cloud Computing Conference. We recommend continuing to focus on domestic computing power related sectors. In the process of gradual economic recovery, China will promote key industries to maintain reasonable growth and stabilize the industrial foundation, while also paying attention to structural optimization and efficiency improvement. Plans for the electronic information, automotive, power equipment, light industry, steel, and building materials sectors have been successively released, and we continue to monitor progress in combating the trend of income polarization. This week, the rare earth prices continue to stabilize, and food delivery subsidies have decreased. We continue to recommend focusing on the rare earth and internet sectors.