Group 1 - Apple is expected to launch a series of new products between 2025 and the first half of 2026, including the iPad Pro with the M5 chip and a new smart home hub [1] - Key suppliers such as Hon Hai, TSMC, Largan, Compal, and Jeng Yuan are anticipated to benefit from Apple's upcoming product launches, contributing to a strong operational performance in the second half of the year [1] - Hon Hai remains Apple's most important assembly partner, securing a majority of the high-end model manufacturing share, with growth driven primarily by the iPhone 17 series [1] Group 2 - The iPad Pro with the M5 chip is expected to be launched as early as October, featuring enhanced processing power and a new upright selfie camera [1] - The MacBook Pro with the M5 chip may be delayed until early next year, while the MacBook Air with the M5 chip is planned for release in the first quarter of 2026 [1] - Vision Pro will receive updates with a new headband and faster processor, but a significant redesign is not expected until 2027 [2] Group 3 - The long-awaited AirTag 2 will feature a new wireless chip to enhance search range and positioning capabilities [3] - Apple is developing two external Mac displays, with at least one expected to launch by the end of this year or early next year [3] - The iPhone 17e is planned for release in the first half of next year, utilizing the same A19 chip as the iPhone 17 [3]

We recently published 10 Stocks Jim Cramer Discussed As He Talked About President Trump & Trillionaires. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the stocks Jim Cramer recently discussed. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the most important companies in the world due to its dominance in the semiconductor fabrication industry. Apart from Samsung, it is the only company in the world capable of manufacturing advanced chips based on the 2-na ...

Core Viewpoint - TSMC is making significant strides in sustainable development and environmental integration, showcasing its commitment to ecological balance and resource management in the semiconductor industry [3][4]. Group 1: Sustainable Practices - TSMC has collaborated with local beekeepers to produce a honey product named "Ji Mi," highlighting its efforts in environmental sustainability [1]. - The company has successfully restored local ecosystems around its factories, evidenced by the return of native species such as silverfish and fireflies, indicating improved ecological conditions [3][4]. Group 2: Resource Management - TSMC has achieved a water resource recycling rate of over 90% in its new factories, demonstrating its commitment to efficient resource management in a water-intensive industry [4]. - The waste recovery rate at TSMC is reported to be as high as 97%, with landfill rates in Taiwan being less than 1%, showcasing effective waste management practices [4].

"我们没有剩余的土地了，"一位当地官员说道，这与九州（日本四大主要岛屿之一）许多同行的回 应一致。 如果您希望可以时常见面，欢迎标星收藏哦~ 来 源 ：内容 编译自日经 。 在寻求围绕半导体打造经济未来的过程中，被称为日本"硅岛"的日本西南部地区正面临着一个熟悉 的瓶颈。 全球最大的芯片代工厂商台湾积体电路制造股份有限公司(Taiwan Semiconductor Manufacturing Co.)在日本开设了第一家工厂，九州岛则将汇聚台积电及其他半导体领域企业和大学的台湾新竹科 学园区视为打造技术研发和制造集群的典范。 九州的愿景是不仅生产半导体设备，而且还利用它们创造新的产业。 然而，对于九州地区来说，找到一个像新竹科学园区那样占地1471公顷的园区并不现实。因此， 九州经济联合会正在推广建立一个遍布整个地区的科学园区网络的构想。 大分县于2023财年开始寻找地势平坦、道路交通便利的新潜在地点。共有85个这样的地点（总面 积达1,120公顷）被确定为2024财年的开发候选地。其中包括28块面积超过15公顷的地块。 地方政府将努力准备场地并向国内外公司推销。 但官员们担心，即使这些基地准备好开展业务，也无 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Japan's Ministry of Economy, Trade and Industry announced subsidies exceeding 500 billion yen (approximately $3.64 billion) for Micron's next-generation DRAM R&D and mass production [21] - Micron plans to invest 1.5 trillion yen by the end of the 2029 fiscal year to enhance production capacity at its Hiroshima plant, aiming for a monthly output of 40,000 advanced DRAM wafers [22] - Apple is expected to introduce chips using TSMC's 2-nanometer process in 2026, securing nearly half of TSMC's initial capacity, which will strengthen TSMC's market position [26][29] - xAI has laid off over 500 data labelers to focus on expanding its team of Specialist AI Tutors for the Grok model [34][35] - Google is shifting its TPU strategy to a "Hardware-as-a-Service" model, deploying TPUs in third-party data centers while retaining ownership, aiming to penetrate NVIDIA's market [38][42] Summary by Sections Japan's Semiconductor Industry - The Japanese government will subsidize one-third of Micron's production line equipment investment, with a maximum of 500 billion yen [23] - The total amount of subsidies to Micron has reached 774.5 billion yen, ensuring a stable supply of semiconductors crucial for economic security [24] Apple and TSMC - Apple's new product strategy includes a "three-tier version" of its A-series processors, enhancing product differentiation and potentially impacting future M-series processors [28][30] - The tiering strategy may complicate product naming and positioning, leading to a reliance on benchmark tests rather than model numbers [33] xAI and AI Industry - xAI's restructuring involves significant layoffs in its data labeling team, which was the largest department, indicating a shift in focus towards specialized AI roles [34][36] Google TPU Strategy - Google's TPU strategy involves a partnership model where TPUs are deployed in third-party data centers, allowing for revenue sharing while avoiding direct competition with NVIDIA [41][42] - This approach lowers capital expenditure barriers for partners and expands the potential customer base for Google TPUs [43][46]

Investment Rating - The report maintains a "Recommended" investment rating for the semiconductor and semiconductor equipment industry [7] Core Insights - The overseas AI chip index increased by 6.58% this week, with only MPS showing a decline, while the domestic AI chip index rose by 11.8% [1] - The global high-end smartphone sales in the first half of 2025 grew by 8% year-on-year, with Apple holding a 62% market share [2][25] - SK Hynix has begun mass production of HBM4 memory, which offers more than double the bandwidth of HBM3E and a 40% improvement in energy efficiency [34] Market Indices - The overseas chip index rose by 6.58% this week, with Broadcom up 7.46% and Nvidia over 6% [10] - The domestic A-share chip index increased by 11.8%, with major stocks like Haiguang Information and Zhaoyi Innovation showing significant gains [10] - The storage chip index surged by 17.9%, with Shannon Semiconductor rising by 71.74% [10][16] Industry Data - In Q2 2025, Japan's smartphone shipments grew by 11%, primarily driven by Apple [27] - Apple Watch's cumulative revenue surpassed $100 billion, driven by health features and product line expansion [30] - Xiaomi's high-end strategy and integration with EV and IoT ecosystems have significantly improved its market performance in China [25] Major Events - The U.S. added 23 Chinese entities to its entity list, prompting China to initiate an anti-dumping investigation against U.S. imported chips [3][33] - Apple launched the iPhone 17 series, featuring significant upgrades in camera technology and performance [37][38] - Neuralink announced the implantation of its chips in 12 individuals globally [36]

[Table_Reportdate] 2025年09月15日 [table_stockTrend] [table_product] 相关研究 1.博通2025Q2 AI营收大幅增 长，存储市场持续回暖——电 子行业周报2025/6/2-2025/6/8 1. 华为领跑折叠手机市场，存储需 求推动闪迪NAND闪存涨价超 10%——电子行业周报（2025/9/1- 2025/9/7） 2. 全球科技共振，"AI+算力"驱 动增长——电子行业周报 （2025/8/25-2025/8/31） 3. 国产芯片新机遇，小米业绩亮眼 迎新高——电子行业周报 （2025/8/18-2025/8/24） [Table_NewTitle] 商务部启动美国进口模拟芯片反倾销调 查，苹果发布iPhone17系列新机 标配 行 业 周 报 [Table_Authors] 证券分析师 方霁 S0630523060001 fangji@longone.com.cn 联系人 董经纬 djwei@longone.com.cn 电 子 1 ➢ 电子板块观点：苹果发布iPhone17系列新机，搭载台积电最新3nm制程处理器芯片 A19/A19 P ...

Group 1 - The largest onshore wind power project in China, with a capacity of 1.5 million kilowatts, officially commenced commercial operation on September 14. This project utilizes 150 units of 10-megawatt wind turbines, marking it as the largest onshore wind power project in the country [2] - A new type of offshore floating liquefied natural gas (LNG) facility, the NGUYA FLNG, was successfully delivered on September 14. This facility has a total length of 376 meters and a storage capacity of 180,000 cubic meters of LNG and 45,000 cubic meters of LPG, with an annual LNG production capacity of 2.4 million tons. It will be deployed in the Congo (Brazzaville) offshore area, showcasing China's advancements in high-value-added marine engineering equipment manufacturing [2] - An international team has made a significant breakthrough in microchip manufacturing by developing a new material and process that enables the production of smaller, faster, and lower-cost high-performance chips. This research lays the foundation for next-generation chip manufacturing and was published in the latest issue of Nature Chemical Engineering [2] Group 2 - Nvidia is expected to be the first to adopt TSMC's A16 process, which is set to enter mass production in the second half of next year. This process will utilize backside power supply technology and will be the first time AI applications lead TSMC's most advanced process [3]

Core Viewpoint - The semiconductor industry is undergoing rapid transformation driven by advancements in artificial intelligence, geopolitical changes, and increased government investment in domestic production [1] Demand Analysis - Semiconductors are essential for innovation and daily life, with strong and evolving market demand due to rapid technological advancements and growth across various industries [3][4] - The global semiconductor market is expected to grow from $627 billion in 2024 to $1.03 trillion by 2030, driven by advancements in data centers, AI, autonomous vehicles, smartphones, and other emerging technologies [4] Automotive Sector - The automotive industry is experiencing profound changes due to electrification, autonomous driving, and software-defined vehicles (SDVs), increasing the role and value of semiconductors in modern vehicles [7][8] - The electric vehicle (EV) market is projected to account for around 50% of total vehicle sales by 2030, significantly increasing the demand for high-voltage power semiconductors like silicon carbide (SiC) [8][11] - The rise of autonomous driving technology is expected to elevate the semiconductor content in vehicles, with most new cars likely to feature Level 2 automation by 2030 [15][17] - The shift towards SDVs is leading to a reduction in the number of electronic control units (ECUs) while increasing the demand for high-performance system-on-chip (SoC) solutions [20] Server and Network - The demand for computing power is expected to grow significantly by 2030, driven by the rise of generative AI applications and the need for advanced data processing capabilities in data centers [27][28] - The global server market is projected to exceed $300 billion by 2030, fueled by investments from cloud service providers and telecommunications companies [28] - The expansion of 5G technology is anticipated to drive demand for network devices and GaN-based RF chips to achieve ultra-fast, low-latency communication [27][28] AI and Connectivity - The increasing complexity of AI models and the growing data sets are leading to a significant rise in demand for high-performance CPUs, GPUs, and AI accelerators within data centers [54][55] - The semiconductor content in mobile base stations is expected to increase as communication standards evolve, particularly with the rollout of 5G and future 6G networks [55][57] Home Appliances - The integration of AI and IoT technologies is making home appliances smarter, driving demand for AI processors and power management integrated circuits (PMICs) [56][61] - The rise of smart home experiences is leading to increased demand for connectivity integrated circuits as appliances become more interconnected [63] Industrial Sector - Semiconductors are transforming various industrial sectors, including healthcare, agriculture, and manufacturing, driven by the need for automation and efficiency [96][97] - The shift towards renewable energy is expected to increase the demand for power semiconductors, particularly SiC, to support effective power transmission and usage [105][106]

Core Insights - Oracle reported strong performance in its cloud business with a backlog of $455 billion in remaining performance obligations (RPO), an increase of $317 billion from the end of last year, representing a year-over-year growth of 359% [2][4] - The growth in orders is primarily driven by data center-related orders from clients such as OpenAI, xAI, Meta, and NVIDIA [2][4] - For FY2026, Oracle's cloud infrastructure IaaS revenue is expected to grow by 77% to reach $18 billion, with projections for the following four years being $32 billion, $73 billion, $114 billion, and $144 billion respectively [2][4] Industry Developments - NVIDIA launched the Rubin CPX GPU, designed to enhance inference performance and efficiency for contexts exceeding 1 million tokens, featuring 128GB GDDR7 memory and AI computing power of 30 PFLOPS [3] - Lixun introduced Co-packaged Copper (CPC) technology at the 2025 Shenzhen Optical Expo, aimed at addressing high-performance, low-cost interconnect challenges in the AI and computing era [3] - Taiwanese AI server ODM manufacturers reported a monthly revenue of NT$121.39 billion in August, a year-over-year increase of 16.71%, with Wistron achieving a remarkable 198.14% increase [4] - China Unicom received a satellite communication business operating license, accelerating the development of satellite internet infrastructure in China [4] - The communication index rose by 3.00% this week, with the Shanghai and Shenzhen 300 index increasing by 1.38%, indicating a relative performance gain of 1.62% [4] Investment Recommendations - The global cloud service provider (CSP) AI arms race is accelerating, with new product launches from companies like Apple and Huawei, and events such as the Open Data Center Conference and META Developer Conference [5] - Continued focus on optical devices and modules, communication equipment, and liquid cooling technologies is recommended [5] - The three major telecom operators remain important assets for dividend allocation, with stable operations and increasing dividend payout ratios [5]