电子行业周报：百度发布AI眼镜，AI终端应用快速发展

Investment Rating - The report maintains an investment rating of "Outperform" compared to the market [5]. Core Insights - The report highlights the rapid development of AI terminal applications, particularly with the launch of Baidu's AI glasses expected in 2025, which features advanced functionalities and low power consumption [1]. - The semiconductor industry is entering a new era with the introduction of 300mm silicon carbide substrates by Tianyue Advanced, catering to the growing demand from clean energy and high-power applications [2]. - The global smartphone market has shown continuous growth for four consecutive quarters, with a 2% year-on-year increase in shipments in Q3 2024, reaching 307 million units [3]. Summary by Sections 1. Industry News Overview - Baidu's AI glasses are set to launch in 2025, featuring a lightweight design and multiple smart functionalities [1]. - Tianyue Advanced's 300mm silicon carbide substrate marks a significant advancement in the domestic silicon carbide industry [2]. - The global smartphone market has seen a 10% increase in revenue in Q3 2024, reaching a record high for the quarter [3]. 2. Industry Data Tracking 2.1 Semiconductor - Global semiconductor sales reached $166 billion in Q3 2024, reflecting a 23.2% year-on-year growth [44]. 2.2 SiC - The introduction of 300mm silicon carbide substrates is expected to enhance chip production efficiency and reduce costs [48]. 2.3 Consumer Electronics - In Q3 2024, global smartphone shipments totaled 307 million units, marking a 2% increase year-on-year [54]. 3. Market Review - The electronic sector saw a 9.36% increase in the week of November 4-8, 2024, with semiconductors leading the gains at 11.98% [59][62]. - The electronic index's price-to-earnings (PE) ratio stands at 56.78, indicating a high valuation compared to historical averages [67].