和讯投顾余荣卓：光芯片为何逆袭？四大逻辑揭秘抗跌主线！

中金财经04-03

和讯投顾余荣卓称，当下市场700家上涨、4000家下跌。此时大家或许会质疑，还该说光芯片“头铁”吗，还是它真有潜力？我知道近期大家处境艰难，账户缩水、信心受挫。这时候有人说要坚持主线，听着像废话，但越是这样越要弄清楚，市场下跌时谁在“裸泳”，谁在暗自蓄力。　　我们跟踪的光芯片、国产硬件等板块，此次调整中跌幅比大盘小，比很多板块都小，这并非运气，而是有逻辑支撑，下跌时自然有人托底。不过，仅跌得...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2624658756?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-04-03 15:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2624658756","market":"hk","top_or_hot":-1,"title":"和讯投顾余荣卓：光芯片为何逆袭？四大逻辑揭秘抗跌主线！","media":"中金财经","content":"<div>\n<p>和讯投顾余荣卓称，当下市场700家上涨、4000家下跌。此时大家或许会质疑，还该说光芯片“头铁”吗，还是它真有潜力？我知道近期大家处境艰难，账户缩水、信心受挫。这时候有人说要坚持主线，听着像废话，但越是这样越要弄清楚，市场下跌时谁在“裸泳”，谁在暗自蓄力。\n\r\n　　我们跟踪的光芯片、国产硬件等板块，此次调整中跌幅比大盘小，比很多板块都小，这并非运气，而是有逻辑支撑，下跌时自然有人托底。不过，仅跌得...</p>\n\n<a href=\"http://sc.stock.cnfol.com/shichangceping/20260403/32124371.shtml\">网页链接</a>\n\n</div>\n","source":"zhongjincaijing_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>和讯投顾余荣卓：光芯片为何逆袭？四大逻辑揭秘抗跌主线！</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n和讯投顾余荣卓：光芯片为何逆袭？四大逻辑揭秘抗跌主线！\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-04-03 15:15 北京时间&nbsp;&nbsp;&nbsp;<a href=http://sc.stock.cnfol.com/shichangceping/20260403/32124371.shtml><strong>中金财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>和讯投顾余荣卓称，当下市场700家上涨、4000家下跌。此时大家或许会质疑，还该说光芯片“头铁”吗，还是它真有潜力？我知道近期大家处境艰难，账户缩水、信心受挫。这时候有人说要坚持主线，听着像废话，但越是这样越要弄清楚，市场下跌时谁在“裸泳”，谁在暗自蓄力。\n\r\n　　我们跟踪的光芯片、国产硬件等板块，此次调整中跌幅比大盘小，比很多板块都小，这并非运气，而是有逻辑支撑，下跌时自然有人托底。不过，仅跌得...</p>\n\n<a href=\"http://sc.stock.cnfol.com/shichangceping/20260403/32124371.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"http://sc.stock.cnfol.com/shichangceping/20260403/32124371.shtml","article_id":"2624658756","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2624658756","pubTimestamp":1775200528,"columns":[],"sourceInfo":{"source_id":"zhongjincaijing_highlight","name":"中金在线"},"weMediaInfo":null,"summary":"和讯投顾余荣卓称，当下市场700家上涨、4000家下跌。此时大家或许会质疑，还该说光芯片“头铁”吗，还是它真有潜力？我知道近期大家处境艰难，账户缩水、信心受挫。这时候有人说要坚持主线，听着像废话，但越是这样越要弄清楚，市场下跌时谁在“裸泳”，谁在暗自蓄力。当下是市场退潮期，退潮才能看出谁在“裸泳”，也才知道谁值得跟随。","collect":0,"end_time":0,"defaultTopTitle":"cnfol.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"159310":"芯片产业","600363":"联创光电","688007":"光峰科技","688011":"新光光电","688195":"腾景科技","BK4588":"碎股","BK4585":"ETF&股票定投概念","BK4535":"淡马锡持仓"},"translate_title":"Hetou Gu Yu Rongzhuo: Why did optical chips counterattack? Four logics reveal the main line of resistance!","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"159310":1.61,"600363":1.55,"688007":1.55,"688011":1.55,"688195":1.57},"content_text":"和讯投顾余荣卓称，当下市场700家上涨、4000家下跌。此时大家或许会质疑，还该说光芯片“头铁”吗，还是它真有潜力？我知道近期大家处境艰难，账户缩水、信心受挫。这时候有人说要坚持主线，听着像废话，但越是这样越要弄清楚，市场下跌时谁在“裸泳”，谁在暗自蓄力。\n\r\n　　我们跟踪的光芯片、国产硬件等板块，此次调整中跌幅比大盘小，比很多板块都小，这并非运气，而是有逻辑支撑，下跌时自然有人托底。不过，仅跌得少还不够，怎么判断它不是只是跌得慢一点呢？我们不用猜测，用框架逐一分析：\n\r\n　　其一，产业逻辑。AI算力需求是真实存在的，光芯片能解决能耗高、传输瓶颈问题，这是刚需，此项打勾。\n\r\n　　其二，资金认同。市场缩量，但这些板块成交量占比并未崩溃，活跃资金仍在其中做结构，此项打勾。\n\r\n　　其三，技术形态。大盘破位，这些板块却在关键支撑位横盘，甚至构筑小平台，该跌不跌，此项打勾。\n\r\n　　其四，梯队结构。龙头在稳步前行，中军在支撑上涨，没有掉链子，此项打勾。\n\r\n　　四个方面都打勾，说明它们不只是抗跌，还可能是下一波行情中有望继续走强的方向。\n\r\n　　有人会问，现在自己处境尴尬怎么办，这个问题难以直接回答。但能明确的是，我们在主线做研究时，并非在每个转折点都能精准抄底，而是在风平浪静时理清逻辑，在狂风暴雨时观察谁站得稳。当下是市场退潮期，退潮才能看出谁在“裸泳”，也才知道谁值得跟随。市场不会永远低迷，机会只会留给下跌时不慌乱、仍在观察的人。","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2624658756","isCrawlerRequest":true}