电子行业先进科技主题周报-周观点：海外大厂发布Q3财报，AI+云业务增长强劲
Shanghai Securities·2024-11-15 01:37

Investment Rating - The industry investment rating is maintained at "Overweight" [4] Core Views - The report highlights strong growth in AI and cloud businesses, with major companies like Microsoft, Amazon, and Apple reporting robust financial results in Q3 2024 [5][6][7] - The report emphasizes the importance of generative AI commercialization and suggests focusing on companies with high certainty in computing infrastructure growth and strong industry barriers [8] Market Review - The Shanghai Composite Index closed at 3452.3 points with a weekly increase of +5.51% - The Shenzhen Component Index closed at 11161.7 points with a weekly increase of +6.75% - The ChiNext Index closed at 2321.59 points with a weekly increase of +9.32% - The CSI 300 Index closed at 4104.05 points with a weekly increase of +5.5% - The China Artificial Intelligence Index closed at 1293.41 points with a weekly increase of +10.31% [4] Technology Industry Insights - Microsoft reported Q1 FY25 revenue of $65.585 billion, a year-on-year increase of 16.04%, and net profit of $24.667 billion, a year-on-year increase of 10.66% [5] - Amazon reported Q3 FY24 revenue of $158.877 billion, a year-on-year increase of 11.04%, and net profit of $15.328 billion, a year-on-year increase of 55.16% [6] - Apple reported Q4 FY24 revenue of $94.93 billion, a year-on-year increase of 6.07%, but net profit decreased by 35.81% due to a significant fine from the EU [7] Investment Recommendations - The report suggests focusing on the following sectors: 1) AI and optical modules, with recommended companies including NewEase, Zhongji Xuchuang, and Tianfu Communication 2) PCB sector benefiting from Nvidia and Apple supply chains, with recommended companies including Pengding Holdings, Shenzhen South Circuit, and Dongshan Precision 3) Low-altitude economy driven by policy support, with recommended companies including Lais Information and Sujiao Science 4) Companies with stable fundamentals and performance support in the Beijing Stock Exchange, with recommended companies including Airong Software and Haidar [8]