The latest PE of computer (excluding negative value, TTM, the same below) is 50.7 1 times, and the valuation is at a historical high. The latest communication PE 15.24 times, and the valuation is at a historical low.
Wanhe Securities believes that the computer sector has undergone more than two years of adjustment since it reached a stage high in July 2020, and the valuation has been fully digested. Demand will continue to improve under the expectation that risk appetite will pick up and liquidity will remain loose. The quarterly improvement of superimposed performance will support the configuration opportunities of the computer sector. Focusing on the main line of independent innovation, IT is suggested to optimize the layout of the high-prosperity track supported by policies, and to pay attention to the three major sectors of innovation, financial IT and smart cars.
Guosen Securities believes that the valuation of the communication industry at the end of June 5438+February was lower than that at the end of 1 1, which was close to the lowest level since 20 1 1. Except for the slight increase of IDC, most sectors have experienced different degrees of decline, among which the decline of visualization sector is relatively small. For the communication sector, the recovery track can focus on communication modules, intelligent controllers, vehicle connectors, Beidou, ICT equipment, operators and so on. High-prosperity orbit can focus on satellite communication, industrial communication, energy storage and temperature control, and submarine optical cable.
In terms of market hotspot index valuation, the latest valuation of China Securities Bank Index is 4.63 times. The valuations of new energy vehicles, semiconductors and military industries are 27.78 times, 38.24 times and 48.6/kloc-0 times respectively. The P/E ratios of Zhengguo Food, new energy vehicles and securities companies rank in the top three, which are 76.57%, 30.79% and 24.89% respectively.