AI 眼镜"功能探索期迈向"规模化爆发期" 摘要 2024 年全球眼镜市场规模庞大，近视及太阳眼镜销量达 14-15 亿副， 并以每年 10%的速度增长，为智能眼镜市场奠定用户基础。Meta Ribbon AI 眼镜 2024 年销量达 140-150 万台，2025 年一季度已达 80 万台，预示智能眼镜市场潜力巨大。 2025 年智能眼镜市场新品频发，雷鸟、Meta 等知名品牌以及阿里、字 节等大厂纷纷入局，小米等厂商也在探索将智能眼镜与大模型结合，关 注功能与价格策略，旨在普及大众市场。 Meta Ribbon 的成功为国内厂商提供了积极信号，其产品逻辑从硬件思 维转向用户体验优先，促使国内厂商重新审视 AI 眼镜的本质需求，并积 极布局新产品。 智能眼镜未来竞争的关键在于技术可用性（AI 体验、硬件性能、隐私安 全）、价格可触达性（参考 Meta Ribbon 299 美元定价）和场景必要 性（实时翻译、第一视角拍摄等高频刚需应用）。 互联网大厂（百度、字节、阿里）凭借 AI 大模型和内容生态优势，将智 能眼镜作为软件服务入口；手机厂商（小米、华为、三星）利用供应链 和用户基础，整合生态系统；AR 技 ...

Investment Rating - Industry Rating: Outperform the Market (Maintained Rating) [1] Core Insights - The report highlights the upcoming WWDC 2025, emphasizing the integration of AI into system-level experiences and the expected innovations in hardware and software from Apple [12][15][17] - Recent financial performances from companies like Credo, Broadcom, and Nvidia indicate strong growth driven by AI-related demands, with significant revenue increases reported [20][24][29] - The report notes the resurgence of interest in AI glasses, with multiple new products launched, indicating a growing market for augmented reality applications [6][8] Summary by Sections 1. Weekly Perspective - WWDC 2025 is set to showcase AI software and hardware upgrades, with Apple expected to unveil significant updates across its operating systems [12][15] - Credo's stock has surged over 180% due to its focus on AI and high-speed interconnects, with Q4 revenue reaching $170 million, a 25.9% quarter-over-quarter increase [20][22] - Broadcom reported Q2 revenue of $15 billion, a 20% year-over-year increase, driven by strong demand for AI-related products [24][25] - Nvidia's Q1 revenue reached $44.06 billion, a 69% year-over-year increase, with significant contributions from data center and gaming sectors [29][30] 2. AI Glasses Market - The report discusses the launch of new AI glasses by companies like Raybird and Rokid, which are expected to enhance user experiences by integrating smartphone functionalities [6][8] - The AR glasses market is experiencing renewed interest, leading to increased investments in upstream near-eye display projects [6][8] 3. Panel and Display Innovations - The report notes a divergence in the panel market, with display panels maintaining an upward trend due to tariff exemptions and proactive inventory management by brands [7][8] - TCL and Alibaba Cloud have announced a strategic partnership to enhance AI capabilities in semiconductor displays and smart terminals [7][8]