机械设备：从苹果创新周期，看果链设备投资机会

Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [2]. Core Insights - The report highlights that the launch of Apple's Apple Intelligence is expected to initiate a new era of innovation in AI smartphones, significantly stimulating consumer demand for upgrades [7][11]. - The report anticipates a rapid growth phase for AI smartphones, with a projected CAGR of 78.4% from 2024 to 2028, and an expected global shipment of 234.2 million units in 2024, accounting for 19% of the smartphone market [10][11]. - The report emphasizes the stability of Apple's supply chain partnerships, which are crucial for the development and production of advanced consumer electronics [20][21]. Summary by Sections 1. AI Era and Product Innovation - Apple's Apple Intelligence is set to revolutionize product innovation across its devices, integrating advanced AI tools into iOS, iPadOS, and macOS [7][8]. - Historical data shows that technological innovations and major product iterations have significantly stimulated consumer purchasing behavior [11][12]. 2. Supply Chain and Equipment Upgrades - Apple's stringent supplier qualification process ensures long-term partnerships, enhancing the sustainability of its supply chain [20]. - The rapid iteration of consumer electronics necessitates continuous upgrades and modifications to production equipment, fostering a stable relationship between equipment manufacturers and Apple [21][23]. 3. Key Companies in the Supply Chain - The report identifies several key companies in the supply chain, including: - 博众精工 (688097.SH): Focuses on automation equipment and solutions for consumer electronics, with a significant portion of revenue derived from Apple-related sales [27][31]. - 赛腾股份 (603283.SH): Engages in the development of automation equipment primarily for the consumer electronics sector, with over 50% of revenue from Apple products [36]. - 天准科技 (688003.SH): Specializes in machine vision technology and serves various industrial sectors, including consumer electronics [27]. - 博杰股份 (002975.SZ): Provides automation testing and assembly solutions, with a strong client base including Apple [27].