9月22日主题复盘 | AI硬件迎多重催化，存储连续爆发，国产芯片强势

Market Overview - The market experienced a rebound with the three major indices slightly rising, while gold stocks surged collectively, with Hunan Silver hitting the daily limit [1] - The consumer electronics sector strengthened, with companies like Luxshare Precision and others reaching their daily limits [1] - The chip sector continued its strong performance, with Demingli hitting the daily limit and several companies, including SMIC and Haiguang Information, reaching historical highs [1] - The robotics concept stocks remained active, with Shoukai Co. recording 12 out of 14 consecutive trading limits [1] - In contrast, the film and television stocks collectively adjusted, with China Film hitting the daily limit down [1] - Overall, nearly 3,200 stocks in the Shanghai and Shenzhen markets declined, with a total transaction volume of 2.14 trillion [1] Storage Sector - The storage concept saw significant gains, with Demingli achieving two consecutive trading limits and other companies like Wanrun Technology and Jucheng Co. rising over 10% [4] - Morgan Stanley upgraded the storage industry rating from "neutral" to "attractive," predicting a super cycle in the industry [4] - The report indicated that despite risks in price competition and market share changes for HBM, the overall storage industry is expected to experience a supply-demand mismatch by 2026, driving price increases and capital expenditures [4] - AI-driven demand for high-density QLC eSSD is expected to lead to new orders in 2026 that could match the entire market size of 2025 [4] - Minsheng Securities noted that SSD suppliers would benefit from CSP transfer demand, with overall eSSD contract prices expected to increase by 5-10% quarterly [5] - Guosheng Securities highlighted that the DRAM market is anticipated to enter a comprehensive price increase phase in the second half of 2025 due to supply-demand imbalances [6] Domestic Chip Sector - The domestic chip concept saw significant gains, with Tianpu Co. achieving 14 consecutive trading limits and companies like Dingxin Communications and Heertai also hitting their limits [7] - Haiguang Information and SMIC both saw substantial increases, reaching historical highs [7] - The upcoming IPO review of Moer Thread on September 26 by the Shanghai Stock Exchange is expected to further stimulate the sector [7] Apple Supply Chain - The Apple supply chain experienced a substantial rise, with Luxshare Precision and other companies hitting their limits [11] - OpenAI has signed an agreement with Luxshare Precision to develop a consumer-grade device, currently in the prototype stage [11] - Apple is increasing production of the iPhone 17 due to higher-than-expected demand, notifying suppliers to raise daily production by at least 30% [11] - Goldman Sachs raised Apple's target price from $255 to $280, reflecting positive market sentiment [12] AI and Chip Market - The domestic AI accelerator card market has surpassed a 40% share, with a positive cycle forming in the industry [9] - The acceleration of domestic chip production is expected to enhance local supply chain demands, with optimistic outlooks for equipment orders [10] - The integration of AI into mobile devices is anticipated to drive a new wave of upgrades in the 3C product production lines [14]