电子行业周报：一季度全球云服务市场同比增长21%

Investment Rating - The electronic industry is rated as showing signs of weak recovery from the demand bottom, with a focus on upstream equipment materials that are relatively independent of the industry cycle [2][10]. Core Views - The global cloud services market grew by 21% year-on-year in Q1 2024, reaching $76.5 billion, indicating a strong reliance on cloud services by enterprises [21]. - The semiconductor industry is experiencing a decline in overall demand, but there are signs of recovery in semiconductor equipment, with Japan's semiconductor equipment shipments increasing by 8.5% year-on-year in March [10][19]. - The smartphone market is showing signs of recovery, with global smartphone shipments reaching 289 million units in Q1 2024, a year-on-year increase of 7.74% [9][10]. Market Trends - In the week from May 2 to May 8, the Shanghai Composite Index rose by 0.76%, while the electronic industry underperformed, with the Shenwan electronic index falling by 0.51% [3][10]. - The PE valuation for the electronic industry increased to approximately 53.04 times [3]. Industry Data - Global PC client CPU shipments reached 62 million units in Q1 2024, a year-on-year increase of 33%, while server CPU shipments declined by 17% year-on-year [20]. - In March, global semiconductor sales amounted to $45.91 billion, reflecting a year-on-year growth of 15.2% [10][19]. Company Dynamics - Weir Shares reported a net profit of 566 million yuan in Q1 2024, a year-on-year increase of 2476.81% [22].