AI端侧系列推荐之十：高通AI PC续航优秀，ARM PC加速渗透

Investment Rating - The industry investment rating is "Overweight" for the Consumer Electronics sector [1]. Core Insights - The report highlights that AI PCs equipped with Qualcomm Snapdragon X Elite have excellent battery life, comparable to MacBook, and outstanding performance for ARM native software. The penetration of ARM PCs is accelerating, driving growth in AI PC hardware demand [2][3]. Summary by Sections Investment Recommendations - Recommended stocks include: - Longqi Technology (603341) with a target PE of 27.94 for 2024E - Hengmingda (002947) with a target PE of 20.21 for 2024E - Chunqiu Electronics (603890) with a target PE of 20.16 for 2024E - Guangda Tongchuang (301387) with a target PE of 14.04 for 2024E - Huqin Technology (603296) with a target PE of 14.37 for 2024E [4]. Performance Metrics - The Snapdragon X Elite's Vivobook S15 shows battery life of 7 hours 47 minutes for Netflix and 10 hours 46 minutes for web browsing, outperforming the ROG幻16 by 17.6% and 23.8% respectively. Its performance in PUGETBENCH Photoshop is 4.4% higher than Lenovo Yoga with R7 8840HS [3]. Market Trends - According to Counterpoint, the penetration rate of ARM architecture in AI PCs is expected to grow from 15% in 2023 to 25.3% by 2027. ARM-based AI PCs can leverage superior energy efficiency to support more AI functionalities, leading to increased shipments [3].