Core Insights - The global PC display panel shipment is expected to grow by 4% year-on-year in 2025, driven by enterprise device upgrades, AI technology implementation, and the launch of new products [1] - High-end PC panels utilizing OLED and MiniLED technologies are projected to see a 9% year-on-year increase, accounting for 8% of total laptop shipments in 2025 [1] - OLED laptop panels are anticipated to achieve a 9% year-on-year growth in 2025, setting the stage for a stronger 30% increase in 2026 [1] - Upcoming releases of 14.3-inch and 16.3-inch OLED MacBook Pro models by Apple are expected to accelerate the penetration of OLED technology in IT devices [1] - Counterpoint Research's analyst David Naranjo indicates that leading brands are expected to perform well in 2025, supported by ongoing enterprise device updates, software upgrades, and AI capabilities [1] Market Trends - The high-end PC panel shipment is forecasted to grow by 9% year-on-year in 2025, indicating a robust growth year for this market segment [1] - The anticipated growth in PC panel shipments from 2024 to 2026 reflects a positive outlook for the industry [1]

Core Insights - The global PC panel shipment is expected to grow by 4% year-on-year in 2025, with high-end PCs accounting for approximately 8% of the market share [4][5] - High-end PC panel shipments are projected to increase by 9% year-on-year in 2025, while OLED laptop panel shipments are also expected to grow by 9% [5] - In 2026, OLED laptop shipments are anticipated to grow at an annual rate of 30%, driven by the launch of Apple's 14.3-inch and 16.3-inch OLED MacBook Pro models [5] Market Trends - The demand for high-end PC panels is supported by enterprise device upgrades, software enhancements, and AI technology implementation, indicating a robust market outlook for 2025 [7] - The adoption of OLED and MiniLED technologies in high-end PC panels is expected to contribute to the overall growth in the PC display panel market [5][7] Company Overview - Counterpoint Research is a global market research firm focused on the technology ecosystem, providing insights across various sectors including AI, consumer electronics, and semiconductors [9]

Core Insights - The global laptop display and panel market is expected to experience steady growth driven by factors such as enterprise device upgrades, the proliferation of artificial intelligence applications, and the continuous launch of new products [1][3] Group 1: Market Growth Projections - The global laptop display shipment is projected to grow by 4% year-on-year in 2025, indicating a stable recovery in market demand [3] - Advanced laptop panels, including OLED and Mini LED technologies, are expected to see a more pronounced performance, with a projected 9% year-on-year growth in shipment volume for 2025 [3] - OLED laptop panel shipments are anticipated to achieve a 30% year-on-year growth by 2026, reflecting strong development potential [1][3] Group 2: Factors Driving Growth - Continuous optimization of cost efficiency is identified as a key supporting factor for the high growth expectations in the OLED laptop panel market [3] - The increasing number of brands actively expanding their high-end laptop product lines is contributing to the market share growth of OLED panels, which are favored for their advantages in color performance, contrast, and energy efficiency [3] - The anticipated launch of the OLED MacBook Pro by Apple at the end of 2026 or early 2027 is seen as a significant catalyst for the IT market's transition towards high-performance, energy-efficient displays [3][4] Group 3: Industry Outlook - The demand for enterprise device upgrades and the application of software and AI technologies are continuously stimulating market potential, with expectations for strong market performance in 2025 [4] - The high-end laptop panel segment is expected to witness a 9% year-on-year growth in shipment volume in 2025, indicating a robust growth year driven by technological iteration and consumer upgrades [4]

MacBook將首度配備觸控面板，與iPad的界線將進一步模糊。這樣的變化可能反映出Apple觀察多年iPad用戶行為，發現某些用戶情境下觸控操作可改善生產力與用戶體驗。1. 預計在2026年底量產的OLED MacBook Pro，將配備觸控面板 (採用on-cell觸控技術)。2. 預計在4Q25量產的配備iPhone處理器之低價版MacBook不配備觸控面板。第二代 (預計在2027年量產) 規格尚在討論中，有支援觸控功能的可能。 ...

1. Report Industry Investment Rating - No industry investment rating is provided in the report. 2. Core Viewpoints of the Report - The overall market shows a complex situation with different trends in various sectors. In the macro - aspect, the economic and policy environment has an impact on different industries. The stock market is in an upward trend with strong bulls, but there are also uncertainties in the market expectations. In the commodity market, different products have different supply - demand relationships and price trends [19][21]. 3. Summary According to Relevant Catalogs 3.1 Macro Indicators - On July 4, 2025, compared with July 3, the Dow Jones Industrial Index rose 0.774% to 44828.53, the Nasdaq Index rose 1.020% to 20601.10, the S&P 500 rose 0.834% to 6279.35, and the Hang Seng Index fell 0.625% to 24069.94. SHIBOR overnight fell 3.663% to 1.32, the US dollar index fell 0.087% to 97.03, and the US dollar against the RMB (CFETS) remained unchanged at 7.16 [2]. - For commodities, COMEX gold fell 0.971% to 3336.00, COMEX silver rose 0.680% to 37.04, LME copper fell 0.584% to 9951.50, etc. [2]. 3.2 Macro News - The Ministry of Commerce has no information on the report of the US President's potential visit with a business delegation, and hopes the US and China can promote healthy and stable development of economic and trade relations [7]. - The US has revoked the requirement for three major chip - design software suppliers to apply for government permission for their business in China [7]. - The State Council will replicate 77 pilot measures of the Shanghai Free - Trade Zone, with 34 measures extended to other free - trade zones and 43 to the whole country [7]. - The US House of Representatives passed Trump's "big and beautiful" tax and spending bill, which will increase the federal debt ceiling by $5 trillion and may increase the budget deficit by $3.4 trillion in the next decade [8]. - China and the EU held the 13th high - level strategic dialogue, and China will ensure normal demand for rare - earth exports from European enterprises [8]. - In June, the Caixin China Services PMI was 50.6, down 0.5 percentage points from May, and the Composite PMI output index rebounded 1.7 percentage points to 51.3 [8]. - From January to May, China's service trade volume was 32543.6 billion yuan, a year - on - year increase of 7.7%, with exports growing 15.1% and imports growing 2.7% [9]. - The Ministry of Industry and Information Technology will address the low - price and disorderly competition in the photovoltaic industry [9]. 3.3 Morning Meeting Views on Main Varieties 3.3.1 Agricultural Products - Peanut market is in a situation of weak supply and demand, with prices in a narrow - range adjustment. It is recommended to take a short - selling approach [11]. - For oils and fats, on June 26, the total trading volume of soybean oil and palm oil decreased by 57% compared with the previous trading day. About 12% of US soybean - planting areas were affected by drought in the week of June 24, and the palm oil export volume from June 1 - 25 in Malaysia increased [11]. - On July 3, the sugar futures main contract closed at 5767 yuan/ton. The domestic sugar market has good sales data, but international sugar prices are weak. It is recommended to go long with caution [11]. - On July 3, the corn futures main contract closed at 2363 yuan/ton, slightly down. The supply - demand situation is complex, and it is recommended to wait and see [11]. - The price of live pigs is stable with a slight upward trend. The supply is stable and the demand is improving. The futures main contract is strong [13]. - The price of eggs is stable. The short - term supply exceeds demand, but there are positive expectations in the medium - term. It is recommended to try to go long [13]. 3.3.2 Energy and Chemicals - For caustic soda, the market sentiment has improved, and it is necessary to pay attention to the pressure at 2400 - 2500 yuan/ton [13]. - The price of urea fluctuates slightly. Supply is expected to decrease in July, and demand is increasing. The futures price may continue to fluctuate [13]. 3.3.3 Industrial Metals - For copper and aluminum, the market macro - sentiment is positive, and a long - position thinking can be adopted after breaking through the pressure level [15]. - For alumina, the cost is expected to decrease slightly, and it is necessary to pay attention to the pressure at the May high [15]. - For steel products, the steel price is firm in the short - term, but the upward trend may slow down [15]. - For ferroalloys, the price rebound may release supply pressure in the long - term. A short - term long and long - term short strategy is recommended [15]. - For coking coal and coke, the coking coal market fluctuates, and coke has a price - increase expectation, but the raw - material support is weakening [15]. - For lithium carbonate, it is recommended to wait and see. If it breaks through the previous high, a small - position long position can be considered [17]. 3.3.4 Option Finance - The stock market is in an upward trend. The main indexes have reached new highs, and the technology and pharmaceutical sectors are performing well. It is recommended to pay attention to the low - buying opportunities of IF, IM, and IC, and adjust positions according to market sentiment [19][21]. - For options, different options have different volume and position changes, and trend investors should focus on defense, while volatility investors can hold long - straddle positions [22].