China Merchants Securities released a research report stating that in January, the focus should be on five sectors exhibiting marginal improvements: AI hardware, robotics, AI applications, non-ferrous metals, and domestic computing power. From a medium- to long-term perspective, the report advises using the economic cycle as the axis and supply-demand dynamics as the anchor. It recommends monitoring the progress of societal intelligence under the new technological cycle, the autonomy and controllability of related industrial chains under the domestic substitution cycle, and the cost reduction and efficiency gains across the entire carbon neutrality industrial chain under the "dual carbon" cycle, alongside the increasing penetration of electric and intelligent vehicles.
Global storage prices continue to rise, with AI demand driving a rebalancing of supply and demand. As of January 19, 2026, the global storage industry is experiencing a significant upward price cycle. Unlike short-term fluctuations driven by seasonal consumer demand and inventory replenishment, this round more closely resembles a structural shortage: upstream suppliers have regained strong pricing power, forcing downstream players to make difficult choices regarding price acceptance, configuration changes, order locking, and inventory building.
The GEO concept is gaining traction, marking a shift in marketing paradigms from "search and click" to "AI recommendation." GEO is a content optimization method for next-generation "generative answer engines/AI search," designed to technically increase the probability of being prioritized in generative responses. Recently, the "GEO" concept has rapidly heated up in the A-share market, with multiple related stocks experiencing consecutive surges.
In artificial intelligence, eight departments, including the Ministry of Industry and Information Technology, recently jointly issued the "Implementation Opinions on the Special Action for 'Artificial Intelligence + Manufacturing'." This policy document outlines support for integrating AI into the manufacturing sector.
In another AI development, Apple announced an agreement with Google to use the Gemini model to power Apple's AI features and enhance the Siri voice assistant. Apple may potentially pay Google billions of dollars in the future. This deal could represent a significant setback for OpenAI, which has been planning to integrate ChatGPT into Apple's ecosystem throughout 2024. Just a week prior, OpenAI announced the ChatGPT Health feature, designed to integrate with Apple's Health app, allowing users to sync data such as sleep and step counts.
Global stock market performance last week was mixed. The materials, information technology, and energy sectors performed relatively well, while telecommunications services, consumer discretionary, and healthcare sectors showed average performance.
The report concludes with risk warnings, including potential economic data falling short of expectations, incomplete policy comprehension, and overseas policies tightening beyond expectations.
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