英伟达业绩高增长，存储及电视面板价格有望维持涨势

Core Viewpoint - Nvidia reported record revenue of $68.127 billion for Q4 of FY2026, with a quarter-over-quarter increase of 20% and a year-over-year increase of 73%. The company projects revenue of $78 billion for Q1 of FY2027, with a variance of 2% [1][2][3]. Industry Dynamics - Nvidia's data center business is identified as the core growth engine, with optimistic guidance for industry demand. The AI computing supply chain is expected to maintain high prosperity, particularly in PCB and storage segments, which are in an expansion cycle, likely boosting upstream equipment and material demand [2][3]. - According to TrendForce, the DRAM industry revenue for Q4 2025 is projected to be $53.58 billion, a 29.4% increase from the previous quarter. The contract prices for Conventional DRAM are expected to rise by 90-95%, while the overall contract prices for Conventional DRAM and HBM combined are anticipated to increase by 80-85% [3]. - In the panel market, TV panel prices are stable with slight increases expected for various sizes, while laptop panel prices are declining. The demand for TV panels remains steady, and price adjustments are anticipated post-Chinese New Year [3]. Industry Valuation - As of March 1, 2026, the SW electronics sector's PE (TTM) stands at 90.67 times, significantly above the historical average of 53.93 times from 2019 to March 1, 2026, indicating a high industry valuation [4].