电子行业周报：端侧AI持续落地，美国出台对华半导体限制“最终规则”

Investment Rating - The report suggests a cautious outlook on the electronic sector, indicating a moderate recovery in demand and recommending focus on specific investment themes such as AIOT, AI-driven technologies, equipment materials, and consumer electronics [4][7]. Core Insights - The electronic sector is experiencing a mild recovery, driven by strong demand in the automotive electronics market and the release of new consumer electronics products [4][5]. - The U.S. has implemented final rules restricting investments in semiconductor and AI sectors related to China, which may reshape the global semiconductor supply chain and enhance domestic capabilities [6][15]. - The report highlights the performance of major companies, including Intel and AMD, with Intel exceeding revenue expectations in Q3 2024 [15][16]. Summary by Sections Industry Overview - The electronic sector is witnessing a recovery phase, with significant product launches from companies like Apple, Xiaomi, and Honor, which are expected to stimulate consumer demand [5][14]. - The report notes that the semiconductor market is under pressure due to geopolitical tensions and supply chain disruptions, particularly affecting U.S. companies operating in China [6][15]. Market Performance - The report indicates that the electronic sector underperformed the broader market, with the Shenzhen 300 index down 1.68% and the Shenwan electronic index down 2.18% [7][21]. - Specific sub-sectors showed varied performance, with semiconductors declining by 4.27% and optical electronics gaining 4.06% [21][22]. Investment Recommendations - The report recommends focusing on four main investment themes: AIOT, AI-driven innovations, upstream supply chain domestic replacements, and consumer electronics recovery [7][8]. - Suggested companies for investment include those in the AIOT sector like Lexin Technology and Hengxuan Technology, as well as semiconductor firms like Cambrian and Haiguang Information [7][8].