天风证券：端侧AI产业链加速升温，2026年有望迎来端侧AI大年

Core Insights - The edge AI industry chain is accelerating, with terminal manufacturers increasing investments in smart hardware and interactive innovations, leading to a rapid expansion of the ecosystem, with expectations for a significant year in edge AI by 2026 [1] - Key focus should be on leading consumer electronics companies like Luxshare Precision in terms of breakthroughs in computing power products and their important position in the edge AI supply chain [1] Company Performance - Apple reported record-high performance, with double-digit growth in iPhone sales in Q4, and continues to increase R&D investments in AI [1] - Nvidia's GTC Washington summit exceeded expectations, maintaining a positive outlook on the computing power industry chain [1] - Meta's smart hardware is rapidly scaling up, indicating a competitive acceleration phase in edge AI [1] - Industrial Fulian's net profit in Q3 increased by 62% year-on-year, continuously validating the profitability of its AI server business [1]