{"id":50187,"topic":"ai","source":"mrjjxw.com","title":"科技板块短期承压，产业趋势未改！人工智能ETF华富（515980）全产业链布局，静待景气回归 - mrjjxw.com","url":"https://www.mrjjxw.com/articles/2026-07-31/4527693.html","url_hash":"19a80a45634579e55a72b0ac036c3c628eb11b0a","author":"","summary":"<a href=\"https://news.google.com/rss/articles/CBMiZkFVX3lxTE1jaUt0MDRiZ05HOS1pM0twc3pwemxrYmtyQ0lQU3lSX1g5VTlqdVQwWUlDTXlPOE82XzBQejF3Y0tiV2FTVUJ5NlYwaXA5V3dWeXdBQ3F3TklNZ1hyUHJveFgydHA2QQ?oc=5\" target=\"_blank\">科技板块短期承压，产业趋势未改！人工智能ETF华富（515980）全产业链布局，静待景气回归</a>&nbsp;&nbsp;<font color=\"#6f6f6f\">mrjjxw.com</font>","content":"科技板块短期承压，产业趋势未改！人工智能ETF华富（515980）全产业链布局，静待景气回归\n每经编辑 肖芮冬\n近期A股明显回调，科技成长方向承压较重，算力硬件、CPO、存储芯片等前期强势方向跌幅居前。外部扰动是主要触发因素：美股芯片板块持续走弱，英伟达因巨额AI基建投资引发市场对资本开支回报率的担忧，存储板块同步承压，情绪通过映射效应传导至A股。不过，市场内部并非全面走弱，银行、白酒等方向逆势走强，资金在不同板块间再平衡的特征较为明显，而非系统性风险的集中释放。人工智能ETF华富（515980）紧密跟踪中证人工智能产业指数（931071），覆盖算力、模型、应用等核心环节（来源：中证指数公司，Wind，华富基金整理，截至2026/7/28），助力投资者在震荡中布局AI主线。\n对此，人工智能ETF华富基金经理张娅和郜哲表示，本轮调整更多是交易与情绪层面的出清，而非产业趋势的转折。从基本面来看，产业景气度仍在验证：6月工业企业利润同比增长15.1%，上半年电子行业利润同比大增96.9%（数据来源：国家统计局）。海外方面，已披露财报的云厂收入保持高增长、积压订单充裕，半导体整体仍处于供不应求状态。国产算力与存储的自主化进程也在持续推进。因此，短期快速上涨之后的估值消化是调整的主因，产业趋势并未逆转。\n市场层面看，6月科技行情由基本面与资金正循环共同驱动，也带来了杠杆资金入场过快后的交易拥挤。进入7月后，高位筹码消化使市场转入调整。从历史复盘来看，当前A股已临近技术支撑位，流动性压力有所缓解。在AI产业盈利逻辑并未破坏、重要资金入市的情况下，本周“超级周”事件密集——某存储龙头上市、海外科技龙头及存储厂商财报、FOMC会议及国内重要会议陆续落地，外部地缘局势和油价波动也可能带来扰动。总体来看，市场已由流动性冲击阶段转入震荡筑底阶段。不过趋势性机会还不明朗，需要等关键事件落地，市场形成新的共识之后才会更清晰。\n短期来看，市场不确定性依然存在，集中押注单一方向面临较大难度。人工智能ETF华富（515980）跟踪的中证人工智能产业指数（931071），覆盖AI全产业链，约75%聚焦算力环节，其中约55%配置于ASIC芯片、AI服务器等边际景气提升的国产算力方向（来源：中证指数公司，Wind，华富基金整理，截至2026/7/28）。同时，产品通过所跟踪指数的季度调仓和成长性指标优选机制，应对AI内部景气分化，适合作为分化阶段参与AI主线的工具型配置。场外投资者可通过联接基金（A类：008020，C类：008021）参与布局。","image_url":null,"lang":"zh","published_at":"2026-07-31T01:04:00+00:00","fetched_at":"2026-07-31T01:15:06+00:00","status":"read","starred":0,"extract_state":"ok","summary_auto":"科技板块短期承压，产业趋势未改！人工智能ETF华富（515980）全产业链布局，静待景气回归\n每经编辑…","cluster_id":null,"extract_retries":0,"extract_error":null,"contract_version":"news_item.v1","format_contract_version":"news_item_formats.v1","dedup_url":"https://www.mrjjxw.com/articles/2026-07-31/4527693.html","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 1073 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":1073,"summary_length":52,"usable_text_length":1073,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":1073,"summary_length":52}},"news_item":{"id":50187,"canonical_url":"https://www.mrjjxw.com/articles/2026-07-31/4527693.html","source_url":"https://www.mrjjxw.com/articles/2026-07-31/4527693.html","title":"科技板块短期承压，产业趋势未改！人工智能ETF华富（515980）全产业链布局，静待景气回归 - 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