Since Q3 in 2020, the computer industry index has experienced a one-and-a-half-year adjustment shock. After the Spring Festival in 2021, driven by the "marginal boom pricing" style of the whole market, the "market style balance" is growing rapidly. Value companies generally experience deep correction, and the characteristics of structural market are remarkable.
In terms of coverage and capital scale, 2021 is the largest "repurchase year" in the history of the computer industry. For a long time, industrial capital has a keen sense of market smell. It uses "real gold and silver" to carry out intensive repurchase in an attractive price range to lock in the back of future incentive costs, which reflects their firm optimism about the future prospects of the enterprise and their full confidence in climbing the peak and achieving good results.
Based on the current valuation level, liquidity expectation and the background of the largest "repurchase year" in the history of the industry, we clearly look at the overall performance of the computer industry in 2022. Considering the extreme deduction of the "market style balance" in 2021, it is predicted that the style will be relatively "balanced" to a certain extent compared with 2021. Focus on recommending companies at both ends of the balance, that is, companies with sustained high prosperity (big safety, software defined automobile, industrial software, energy it, etc.) and value type (SAAS and financial it, etc.), undervalued and actively repurchase.
