英伟达股价再创新高，持续看好算力产业链

Investment Rating - The industry investment rating is "Positive" [2] Core Viewpoints - The electronic sub-industry index has seen significant growth, with the semiconductor sector increasing by 2.70% year-to-date and 4.55% this week [8] - NVIDIA's stock price has reached a new high, with a market capitalization of $3.85 trillion, making it the highest valued public company globally. The CEO indicated that the data center market is transitioning to a trillion-dollar market driven by AI infrastructure [2][8] - Micron's FY25Q3 revenue was $9.3 billion, exceeding guidance, with a year-over-year increase of 37% and a quarter-over-quarter increase of 15%. The gross margin was reported at 39.0%, up 10.9 percentage points year-over-year [2][26] - The report suggests focusing on companies in the AI sector, including both overseas and domestic firms, as well as companies in the Apple supply chain [2] Summary by Sections Electronic Industry Performance - The electronic sub-industry index has generally risen, with notable increases in various sectors this week, including a 4.55% rise in semiconductors and a 7.88% rise in other electronics [8] - Key North American stocks have also shown positive performance, with NVIDIA increasing by 9.66% this week [11] NVIDIA Insights - NVIDIA's stock price reflects positive market expectations for the AI industry chain, with significant order growth driven by investments in cloud and sovereign AI infrastructure [2][8] Micron Financial Performance - Micron's FY25Q3 results showed a revenue of $9.3 billion, with a gross margin of 39.0%, indicating strong performance in the DRAM and NAND segments [26][27] - The company anticipates further growth in HBM market share, potentially matching DRAM levels by the second half of 2025 [2] Investment Recommendations - The report recommends monitoring various companies in the AI sector, including both international and domestic players, as well as those in the Apple supply chain [2]