电子行业周报：中芯国际业绩会指引乐观，看好端侧AI硬件创新浪潮和算力架构创新

Investment Rating - The industry investment rating is "Recommended (Maintain)" [1] Core Viewpoints - The report highlights the optimism surrounding the end-side AI hardware innovation wave and computing architecture innovation, driven by the low training costs of Deepseek, which achieves performance comparable to top global models [5][22] - The AI wave is expected to significantly boost demand for computing power, enhancing the value of segments such as servers, AI chips, optical chips, storage, and PCBs [5][24] - The report emphasizes the potential for a super replacement cycle in smartphones as AI technology becomes more prevalent, particularly with Apple's advancements in AI Phones [5][22] Summary by Sections 1. Market Review - From February 10 to February 14, the overall market saw an increase, with the Shanghai Composite Index rising by 1.30% and the Shenzhen Component Index by 1.64%. The electronic industry index, however, underperformed, increasing by only 0.27% [7][11] 2. Sub-industry News (1) Semiconductor - TSMC plans to accelerate advanced process manufacturing in the U.S. with the construction of a new factory [13] - Korean foundries are experiencing increased capacity utilization due to rising demand driven by China's economic stimulus policies [13] (2) AI, IoT, and Automotive Electronics - The EU plans to mobilize €200 billion (approximately $206.15 billion) for AI investments to enhance its capabilities in the sector [16] - France's President Macron emphasized the need for Europe to catch up in AI development [16] (3) Innovative Electronics & Smart Wearables - Essilor Luxottica is expanding production of Ray-Ban Meta smart glasses, targeting an output of 10 million units by next year [18] (4) Mobile & 5G - In 2024, the domestic smartphone market is projected to see a shipment of 314 million units, a year-on-year increase of 8.7% [19] (5) LCD & LED - The global tablet panel market is expected to reach a total shipment of 261 million units in 2024, reflecting an 8% year-on-year growth [21] 3. Industry Investment Strategy and Weekly Outlook - The report suggests focusing on companies involved in AI hardware and components, such as Goertek, Edifier, and others, as the demand for AI applications grows [5][22] - It also highlights the recovery trends in upstream sectors like passive components, digital SoCs, and storage, driven by government policies stimulating consumer electronics [5][24]