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近年来,尽管股票市场上通信行业整体成长性良好,但投资者由于对相关技术缺乏专业的认识,不能对细分行业和个股进行准确的深度挖掘,选股逻辑多局限于寻找题材驱动的短期成长机会,难以进行中长期价值投资。基于肯尼斯·费雪模型逻辑,通信行业中低估值、盈利能力良好、现金流充沛且负债可控的公司能够将短期的技术创新和政策扶持转化为中长期增长动力,是通信行业中长期价值投资的良好标的。
In recent years, despite the good overall growth of the communications industry in the stock market, investors can not dig deep into subdivided sectors and stocks due to the lack of professional knowledge of related technologies. The logic of stock selection is mostly limited to finding theme-driven short-term Growth opportunities, it is difficult for long-term value investment. Based on the Kenneth Fisher model logic, companies with low valuations in the communications industry, good profitability, abundant cash flow and controlled liabilities are able to transform short-term technological innovation and policy support into medium- and long-term growth drivers, Good value for money investment.