摘要:
　　股指动态:本周，美股、中概股、港股大部分呈下跌走势。标普500指数上涨0.69%，纳斯达克综合指数跌0.57%，TAMAMA科技指数跌2.08%;费城半导体指数跌1.37%;纳斯达克中国金龙指数跌3.19%;恒生科技指数跌2.94%。
　　美股科技:热门科技股一周内多数下跌，少数小幅上涨。据统计，相比7月14日收盘价，21日盘后，谷歌合计跌3.63%，微软涨0.32%，苹果涨0.73%，亚马逊跌3.20%，META跌6.11%，英伟达跌3.63%，特斯拉跌6.43%，SNOWFLAKE跌4.52%，英特尔涨0.44%。
　　10年期国债及汇率:本周，美国10年期国债利率由3.83%上涨至3.84%，累计上浮lbps;中国10年期国债利率由2.64%下跌至2.61%，累计下降3.65bps。7月21日，美元兑人民币中间价报7.15;较7月14日价7.13，累计调贬138个基点。
　　政策法规:
　　7月21日白宫公告，七家AI领先公司亚马逊、Anthropic、谷歌、Inflection、Meta、微软和OpenAI承诺履行人工智能未来发展的三项重要原则一安全、保障和信任(safety, security, and trust)。
　　核心观点
　　海外人工智能领域发展迅速，科技巨头人工智能“军备竞赛”不断升温。Meta公司近日发布首个开源人工智能模型Llama的商业版本Llama2,标志着大模型进入开源时代。相应地，我们预计，全球企业级AI应用预计加速落地，微软公布Office365 Copilot定价，彰显了AI+应用旺盛的市场需求，将进一步澈发Al+应用投资热.情。高通发布公告称，将和Meta合作，2024年推出“手机版Llama2”，高通已将AI .边缘计算定为未来发展方向。未来，大模型需要同时在云端和边缘终端上运行，高通和Meta此举预计将推动AIGC加速推广到C端市场，并且，边缘端算力需求将成.为算力侧未来新的增长点。
　　风险提示
　　AI技术研发不及预期风险;巨头竞争加剧风险;法律监管风险;供应链风险;消费需求不及预期风险。
　　

研究报告全文：tableresearch202371421ABOffice365CopilotCDEFGMetaHIJKLMNLlama26OPQRSTEU6V2W6VX6YZabc500Odef069EghijklOd057ETAMAMAmnOd208opqrstOd137oghij23uvOd319owxmnOd294a861066568589U6mnRyzmn6TdEdefaE714wuyanjingchinastockcomcnDE210El363EAf032Ef073ES0130519070001320EMETA611Ei363Eh643ESNOWFLAKE452Ef044a10H3RSTEU310H3383ef384E-020230721e1bpso2310H3264261E365bpsa721EU2DoDEa715714713138R721EAIVAnthropicVVVVA1InflectionMetaOpenAIVsafetysecurityandtrusta-012345tablereportEmnaMetaBLlama1NSLlama2EbYaEEAIEABOffice1230365CopilotCDEAI1EIAIy20230721aFGBEIMetalE2024HJKLMNLlama2EFGIAIC-aEY01232e4EFGMeta56IJPAIGCJ78C2E9E2I1aAInABCoDEBCoFGHBCoIJBCotablereport-012345KpBCawwwchinastockcomcn-0123456789行业研究报告4计算机行业动态报告5-101234567180920ABC28DEFGHI20JKLM280NOP30QRST3U0VWXYZ3G234Uabc4-0123456789a67894675-01201234567L1RU6VX6VM6NmnTd总市值市销率市盈率所属地股价美元区间涨证券代码公司名称亿美元PSPEPE2021PE2022PE2023E板块区跌幅周202307142023072120230721TTMTTMAAPLO苹果Apple190691919407330189677843201306520713189NVDAO英伟达NVIDIA4546944309-36310944324229228341697336868422TSLAO特斯拉TESLA2813826002-64382413587667581978030988172HPQN惠普HP32793224-393317870571191627824000CSCOO思科CISCO50385263213214470391187025241657000美ASMLO阿斯麦7540269336-7642735939713384481136703204股AMDO超威半导体AMD1159411095-42917867077545233549379123876算力及INTCO英特尔INTEL33153402044141897252-496710551361000终端QCOMO高通QUALCOMM1225612472130138938338131822759511583安森美半导体ONONOSEMICONDUCTOR99689876-3214265251123262909141820600909HK明源云366340-8606529318-505-8310-1065-1174港9698HK万国数据-SW1180115603517622163-1083-4654-2199-1181股1686HK新意网集团408396-2229263421106521911166000台2330TW台积电5910056000-427156621216521542269211711913股2454TW联发科6920068200029109095821410721708846000GOOGLO谷歌ALPHABET-C1254212002-36315255975352601252319042186AMZNO亚马逊AMAZON1346813000-3201333846254310635087-314827232脸书METAMETAOPLATFORMS3088729426-6117541106433517234213752601美NFLXO奈飞NETFLIX4419142750-5081900405904461522829213722股PDDO拼多多79497597-6131009334801873605022772007NTESO网易1053410221-261660904621995252116342086BIDUO百度1492114150-710503202692382320636421928TCOMO携程网36913671-342253156862990-18304116722326互联网0700HK腾讯控股3526033300-4803188231490146415961517199380700HK腾讯控股-R3200030620-4312915542515153800000020049999HK网易-S1669016020-20851642546119922501165220929888HK百度集团-SW1479014060-5193932002722412319636491961港89888HK百度集团-SWR1348012890-50835957028525260000001966股1024HK快手-W59605975-017259071231-2729-319-1996-1262281024HK快手-WR54155470-036236912241-2854000000-126369626HK哔哩哔哩-W1335012240-79750828203-762-1699-890-10992518HK汽车之家-S61455795-4922951936913651044147913349898HK微博-SW1124010730-47125245182126817115213903MSFTO微软MICROSOFT3452434377032255609812313703411724583455SNOWNSNOWFLAKE1807917590-452573262529-6693-19247-6789000ORCLN甲骨文ORACLE1192711765017319333639375616943281000赛富时CRMNSALESFORCE2293322806-10022213069058610614791828343美ADBEO奥多比ADOBE514835202305723712112874885558632694760股INTUO财捷INTUIT48399492522321379359806161883352925787新思科技SNPSOSYNOPSYS4541145400115690801306750474644943000铿腾电子CDNSOCADENCE2407424286140662241799774274215191000ADSKO欧特克AUTODESK2141420990-3094486187953535120811351330020HK商汤-W192172-1088575671350-851-873-1098-1517软件及80020HK商汤-WR175159-1017526431397-880000000-1533应用3888HK金山软件33503250-13744380500-6529706-52558310268HK金蝶国际11641094-52038031687-8730-22536-13349-133930696HK中国民航信息网络13661368-0874003168657085694688417779878HK汇通达网络29552825-661158930184670000706827533650HKKEEP29502885-01715166612-12957000000000港0354HK中国软件国际513442-1350131800581550224224181203股1357HK美图公司313297-6601320656612531-12391577544383896HK金山云33532203112253136-396000-269-5952013HK微盟集团385364-73810172494-497-2100-829-17341675HK亚信科技10601056-11298771141061122413739252121HK创新奇智18241762-2009956571-2450000-3165-27452400HK心动公司19201754-13388427219-1360-1796-1675109110777HK网龙15061494-04079320908507699718129923HK移卡18081800-23980282104659226554291702-0123456789-0123456789a167894675809A-B10CDBEFGH383IJK384ALIM1bpsN2B10CDBEFGH264OPK261ALOQ365bpsR7S21TA-UVWXY2Z715N7S14T713AL138aRO1R3P10HO2RU2D-01234567890ABCL2RN6OdTQP涨跌幅市盈率证券代码证券简称本周上周本月本年度2022PETTMIXICGI纳斯达克指数-0573321783407-3310411562SPXGI标普5000692421931815-19442558198884057WITAMAMA科技指数-2082600085434-3815385246HXCGI纳斯达克中国金龙指数-319664484256-2463319175SOXGI费城半导体指数-1374830704608-3583368661HSTECHHI恒生科技-294839494-059-2719263223CI005027WI计算机-559090-7512234-25141014434-01234567893456780JKLMbcdQualcomme-Bfg7S19TAcdhijMetaklmnAopLlama2qprstImWuvwxpyzRcdnMetaMetamLlama2m6ARvwrPCVRARstI6Llama2WuvwAohWwApmRAcdnLlama2mWuvwstIAmWuvwxpyzRklhWpAvwxpyzuRmstWuvwHSnapdragonAmulAK6OulRcdnc7DurgaMalladiAMetamAIAdstIWuvwAmhWmRgWuvwAWuvwstI6Avwrst-R-0123456789a26789467580NOPbNetflixe-Bfg7S19TA012345mm67A89IRH-BAgBC345ADE89F6590GAHIADE89FJ8RDK89mLMNpF6jDE89OPRjA012345mmFJAQDR89mFJS6TR5SAUVWXYZopWmRWabcdefghmWAijLklmAmWnWjL799-UmohMpRkpq6rstsuvwxyAzn89WzmRQAWWXklmAWOmSmKSmSKJZXAmRbAmazone-Bfg7S20TAiCOmWholeFoodsjLpay-by-palmRAmazonOneAprstIAjLRprjmpRAIrLR2AUWholeFoodsRAAmazonOne200fWholeFoodsASW500fRxyAnFJmAAmazonOnemp300GRhAUgDKAjWArmjLJustWalkOutmRCAPaneraBreadUAmazonOneNmwUjoprstbRbGooglee-Bfg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