电子行业周报：台积电12月营收同比增长57.8%

Investment Rating - The report indicates a strong performance of the electronic industry, with the electronic index outperforming the market benchmarks [4][7]. Core Insights - TSMC reported a significant revenue increase of 57.8% year-on-year for December 2024, with total revenue for the year reaching approximately 28943.08 billion NTD, a 33.9% increase compared to the previous year [3][23]. - MediaTek's revenue for December 2024 decreased by 4.57% year-on-year, with total revenue for the year at 5305.86 billion NTD, reflecting a 22.41% increase from the previous year [3][21]. - The global smartphone shipment for Q4 2024 was 331 million units, showing a year-on-year growth of 1.72%, indicating a slowdown compared to previous quarters [10][13]. - The semiconductor industry is experiencing a mixed demand landscape, with consumer electronics demand slowing down domestically, while AI-related semiconductor demand remains strong internationally [13][14]. Summary by Sections Market Trends - The electronic industry index increased by 2.15% during the week of January 9 to January 15, outperforming the Shanghai Composite Index by 2.25 percentage points [4][7]. - The PE ratio for the electronic industry rose to approximately 53.99 times [4][7]. Industry Data - Global semiconductor sales in November 2024 reached 57.82 billion USD, a year-on-year increase of 20.7% [4][13]. - Japan's semiconductor equipment shipments increased by 35.18% year-on-year in November 2024 [4][13]. Company Dynamics - Transsion Holdings reported a total stock buyback of approximately 12.68 million RMB by its executives [26]. - Apple Inc.'s rating was downgraded to "sell" by MoffettNathanson, citing concerns over iPhone sales and other negative news impacting the stock [24].