半导体与半导体生产设备行业周报：AI基建逻辑修复，苹果AI进入中国利好果链

Investment Rating - The report maintains a "Recommended" investment rating for the semiconductor and semiconductor production equipment industry [4]. Core Insights - The AI infrastructure logic is recovering, and Apple's AI advancements in China are beneficial for the supply chain [1]. - The overseas AI chip index increased by 4.2%, while the domestic AI chip index rose by 10%, driven by the adaptation of domestic AI chips to the DeepSeek model [1][9]. - The server ODM index saw a 2.3% increase, indicating a recovery trend as major CSPs enhance AI hardware capital expenditure [10]. - The storage chip index increased by 9.2%, although the overall outlook for the storage industry remains cautious [12]. - The A-share fruit chain index rose by 3.6%, and the Hong Kong fruit chain index surged by 20.7%, primarily driven by AI-related logic [15]. Market Indices - The overseas AI chip index has increased nearly 60% compared to February 2024, while the domestic AI chip index has risen approximately 140% [9]. - The NVIDIA mapping index has also increased by nearly 60% year-on-year, despite a recent decline of 2.5% due to low hardware demand from DeepSeek [9][12]. - The server ODM index has improved by nearly 10% year-on-year, reflecting a positive trend in the market [10]. - The domestic storage chip index has increased by nearly 70% year-on-year, with a 9.2% rise this week [12]. - The power semiconductor index has risen by nearly 30% year-on-year, with a 5.1% increase this week [12]. Industry Data - In Q4 2024, China's smartphone market showed signs of recovery with shipments reaching 75 million units, a year-on-year increase of 5% [2]. - Vivo led the market with a 17.6% share, followed closely by Apple (17.3%), Huawei (16.9%), and Xiaomi (16.4%) [2]. - The iPhone 15 base model became the best-selling smartphone globally in 2024, with Apple and Samsung dominating the top ten list [2]. Major Events - Qualcomm projected FY1Q25 revenue of $11.7 billion, a year-on-year increase of 18%, with mobile business revenue at $7.6 billion [3][20]. - AMD reported 2024 revenue of $25.8 billion, a year-on-year increase of 14%, with data center revenue growing by 94% [3][20]. - Apple is reportedly integrating the DeepSeek R1 into new iPhones and has begun internal testing based on the DeepSeek model [3][21]. - The M5 chip from Apple has entered mass production, expected to debut in the iPad Pro later this year [3][21].