2026 年 03 月 11 日 行业点评 看好/维持 电子 电子 iPhone 业务增长强劲，AI 端侧加速创新 ◼ 走势比较 (30%) (14%) 2% 18% 34% 50% 25/3/11 25/5/22 25/8/2 25/10/13 25/12/24 26/3/6 电子 沪深300 ◼ 子行业评级 相关研究报告 <<全志科技 2025 业绩预告点评：业 绩同比预计高增，下游市场需求向 好>>--2026-01-24 <<台积电业绩亮眼，AI 需求真实不 虚>>--2026-01-20 <<对日二氯二氢硅反倾销立案调查， 国产替代进入关键窗口期>>--2026- 01-09 证券分析师：张世杰 E-MAIL：zhangsj@tpyzq.com 分析师登记编号：S1190523020001 证券分析师：罗平 E-MAIL：luoping@tpyzq.com 分析师登记编号：S1190524030001 报告摘要 事件：苹果发布 26FQ1 财报，26FQ1 公司实现营收 1427.56 亿美元，同比 增长 15.6%；实现净利润 420.97 亿美元，同比增长 15.9%。 iPhone业务需求强劲 ...

Core Viewpoint - The United States is seeking to customize its artificial intelligence (AI) technology exports to meet the specific needs of Asian countries, aiming to encourage collaboration with the U.S. rather than China [1][2]. Group 1: U.S. AI Export Strategy - The U.S. government is promoting a strategic plan for AI technology exports, emphasizing the need for tailored solutions rather than a one-size-fits-all approach [2][4]. - The U.S. aims to provide funding support to help countries acquire and deploy comprehensive American technology, including chips, data centers, large language models, and cloud services [2][4]. Group 2: Regional Economic Context - The U.S. AI initiative coincides with economic uncertainties caused by the Trump administration's tariffs, which have impacted countries like Japan and South Korea that rely on exports to the U.S. [4][5]. - Japan has committed to investing $550 billion in the U.S. to rebuild and expand core industries, with 90% of the investment profits going to the U.S., while South Korea plans a $350 billion investment fund targeting key sectors [5]. Group 3: Challenges and Concerns - Analysts express skepticism regarding the feasibility of the U.S. AI action plan, particularly concerning the export of AI software stacks and the potential execution challenges [4][5]. - There are concerns about the reliability of the U.S. as a partner due to the imposition of tariffs on allies like Japan and South Korea, raising questions about the details and execution of agreements [5].