说到这就得提提咱们国内的供应链，那真是藏龙卧虎。就说蓝思科技，上半年净利润直接涨了32.68%，人家给苹果折叠屏做的UTG玻璃，弯折20万次都不 带坏的，现在连特斯拉的车载屏都找他们做。还有立讯精密，苹果Vision Pro的核心供应商，XR设备占营收都快40%了，汽车电子那边也在突突突地增长。 这些公司就像AI时代的"硬件军火商"，不管哪家巨头搞创新，都得从他们这儿拿货。 最关键的是，AI这把火彻底烧到消费电子了。小米14直接把NPU算力拉满，华为鸿蒙4.0接入大模型后，小艺都能帮你写PPT了，连OPPO的ColorOS都藏着 70亿参数的AI模型。国盛说得对，端侧AI落地就是换机潮的导火索，现在手机、AR眼镜这些设备就像装了发动机，硬件升级根本停不下来。你想想，当你 的手机能实时翻译、生成视频，谁还愿意用老古董？ 不过咱得把眼光放长远。消费电子可不是短期炒作，这是AI革命的硬件根基。就像蓝思科技在具身智能领域的布局，关节模组、外骨骼设备都开始批量交 付了，这可是未来人形机器人的核心部件。还有那些做光波导、Micro LED的公司，Meta、苹果的AR眼镜都指着他们的技术呢。这些公司就像AI时代的"基 建队 ...

Group 1 - The electronic sector has shown a significant upward trend in returns since 2024, driven by improvements in performance due to demand recovery in computing power, autonomy, mobile, consumer, and industrial sectors, alongside AI narratives providing a basis for valuation expansion [1][2] - The maturity of models is expected to accelerate edge AI innovation, leading to substantial upgrades in processors, memory, cooling, hardware-software integration, and batteries to meet the computing power demands of devices like smartphones and PCs [1][3] - The introduction of new products, such as Apple's foldable devices, is anticipated to create opportunities in 3D printing and UTG glass, with the 3D printing market potentially exceeding 100 billion in the 3C sector due to advantages in weight reduction, thinness, and heat dissipation [1][2] Group 2 - Domestic computing power construction is in its early stages, with significant growth expected in the domestic computing power supply chain, including demand surges for domestic GPUs, ASICs, advanced processes, storage, servers, and PCBs [2][3] - The ongoing US-China technology competition emphasizes the importance of self-sufficiency, with domestic wafer fabs expected to see capital expenditures increase for both advanced and mature processes by 2025 [3] - The semiconductor industry is focusing on domestic replacements in wafer manufacturing, equipment, materials, and components, driven by the need for advanced process capacity amid US export controls [3][4] Group 3 - Investment recommendations include focusing on edge AI innovations in mobile/PC sectors, particularly in 3D printing, UTG glass, and customized storage, with specific companies highlighted for potential growth [4] - The report suggests monitoring companies involved in the domestic computing power explosion, including those in GPU and semiconductor manufacturing, as well as related technologies [4] - Emphasis is placed on the potential for increased domestic production rates in semiconductor equipment, materials, and passive components, with several companies identified as key players in this space [4]

Core Viewpoint - Apple is set to launch its first foldable iPhone, addressing long-standing issues in the foldable smartphone market, particularly focusing on minimizing screen creases and enhancing hinge quality [3][5][27]. Group 1: Product Strategy - Apple plans to adjust its iPhone release strategy, alternating between low-end and high-end models, with the foldable iPhone expected to debut alongside the iPhone 18 Pro series in late 2026 [3][27]. - The foldable iPhone is positioned as a high-end device, aiming to differentiate itself from competitors by focusing on two main features: nearly invisible screen creases and superior hinge quality [5][6]. Group 2: Screen Technology - The foldable iPhone will utilize advanced technology to ensure that screen creases are nearly imperceptible when unfolded, enhancing both visual appeal and user experience [8][12]. - A proprietary polymer design is expected to fill gaps between the flexible screen and hinge, contributing to a smoother surface and increased durability [9][10]. - The device will feature Ultra-Thin Glass (UTG) supplied by Chinese manufacturer Lens Technology, which is recognized as the current best solution for foldable screens [11]. Group 3: Hinge Design - The hinge design of the foldable iPhone is expected to be more robust, utilizing a unique structure that enhances flexibility and durability [13][18]. - The hinge will be made from a combination of titanium alloy and stainless steel, balancing lightweight properties with strength and durability [15][18]. Group 4: Design and Specifications - The foldable iPhone will adopt a book-style folding design, featuring an external display size similar to standard smartphones and an internal display close to 7.8 inches [19][21]. - The device's thickness will range from 9mm to 9.5mm when folded, and 4.5mm when unfolded, potentially making it one of Apple's thinnest devices [22]. - It is rumored to include a Touch ID power button instead of Face ID due to space constraints, and will feature dual rear cameras and a front camera [24]. Group 5: Market Context - The foldable smartphone market has seen a significant slowdown, with growth rates dropping from over 40% annually since 2019 to just 5% in 2024, raising concerns about Apple's timing in entering this segment [29]. - Analysts predict the foldable iPhone will be priced between $2100 and $2300, positioning it against high-end models like the Pro Max, despite cheaper alternatives available in the market [30].