DDR4价格大涨，美商务部取消部分EDA出口限制

Investment Rating - The report maintains an investment rating of "Outperform" with a target to exceed the market by 10% or more over the next six months [6]. Core Insights - The report highlights a significant increase in DDR4 chip prices, which have surged by 200% due to supply constraints as major manufacturers plan to halt production by the end of 2025 [5][10]. - The development of AI is expected to profoundly impact the PCB industry, increasing demand for high-end CCL materials, which are crucial for PCB performance [2]. - The competitive landscape for 1.4nm process technology is becoming clearer, with TSMC, Intel, and Samsung each adopting different strategies to advance their capabilities [4][20]. Summary by Sections Industry Overview - The semiconductor industry is witnessing a shift with TSMC, Intel, and Samsung focusing on 1.4nm technology, with TSMC expected to achieve mass production by 2028 [20]. - AI technology is driving demand for PCBs, particularly high-end CCL, benefiting companies like Jingwei Technology and Shengyi Technology [2][13]. Market Performance - The electronic sector saw a modest increase of 0.74% in the past week, ranking 18th out of 31 sectors [12][28]. - The report notes that the electronic index's PE ratio stands at 52.63, with a 10-year percentile of 70.62%, indicating a relatively high valuation compared to historical averages [36][38]. Company Recommendations - The report suggests focusing on companies within the PCB supply chain such as Shenghong Technology and Huitian Technology, as well as storage sector companies like Zhaoyi Innovation and Bawei Storage [13].