中金：端侧AI多终端落地及逐步下沉 将引领消费电子行业成长

Core Viewpoint - The uncertainty surrounding tariffs has led to a decline in the valuation of the electronics sector, with a notable drop in the overall valuation of consumer electronics, which is currently at a historically low relative level [1] Group 1: Industry Outlook - Looking ahead to the second half of 2025, the report suggests that the implementation of edge AI across multiple terminals and gradual upgrades in certain segments will drive growth in the consumer electronics industry [1] - The report highlights three key investment opportunities: the upgrade and accelerated penetration of AI smartphone hardware, innovation in new forms of AI wearable devices, and the restart of scale and allocation in the optical industry [1]