长鑫存储发布LPDDR5X，看好国内存储产业链：电子行业周报（10.27~10.31）-20251102

Investment Rating - The report maintains an "Overweight" rating for the electronic industry [1] Core Views - The electronic industry has shown a recovery trend in consumer electronics, with continuous releases of foldable smartphones and strong demand for AI infrastructure [7][8] - Longxin Storage has launched its LPDDR5X product, which is expected to enhance the domestic storage industry chain and improve its global market share [5][6] Market Performance - The electronic industry index fell by 1.65% last week, underperforming the CSI 300 by 1.23 percentage points [10] - Year-to-date, the electronic industry index has increased by 48.10%, outperforming the CSI 300 by 30.16 percentage points [10] Valuation - The electronic sector's PE (TTM, excluding negative values) is 60.99X, down by 5.19X week-on-week, and is at the 43.49th percentile of the past 10 years [4][11] - The PB (LF) stands at 4.99X, down by 0.26X week-on-week, and is at the 61.16th percentile of the past 10 years [4][11] Industry Dynamics - Longxin Storage's LPDDR5X product features significant improvements in capacity, speed, and power consumption, achieving a maximum speed of 10667 Mbps, which is a 66% increase over the previous generation [5][6] - The product's thickness of only 0.58mm positions it as one of the thinnest in the industry, indicating Longxin's technological advancements [6] Investment Recommendations - The report suggests focusing on investment opportunities in AI infrastructure, edge SOC, foldable smartphone supply chains, and the storage industry chain [7][8]