电子买什么？- 如何看当下端侧AI行情？

Summary of Conference Call Records Industry or Company Involved - The discussion primarily revolves around the technology industry, specifically focusing on Apple Inc. and its innovations in AI, AR, and hardware components. Core Points and Arguments 1. Automation and Human-Computer Interaction: The enhancement of automation capabilities significantly improves human-computer interaction experiences, with a focus on the differentiation between various downstream applications like mobile and PC, which are considered mature categories. The emphasis is on the industry's progress and valuation over the next two to three years, particularly regarding profit release elasticity and certainty [1][2][3]. 2. AI and Hardware Innovations: Apple is seen as a cautious leader in AI, with a focus on its proprietary architecture for AI applications. The company is expected to leverage its M-series chips for both device and cloud-based AI models, enhancing user privacy and security [5][6][8]. 3. Market Trends and Product Launches: The upcoming launches of new iPhone models, including the SE with a full-screen design and self-developed baseband chips, are anticipated to drive sales. The iPhone 17 is expected to start production in June, with significant updates planned for iOS 19 [6][7][9]. 4. Innovation Cycle: Apple is entering a three-year innovation cycle, which is expected to be the most intense in its history. This cycle is driven by the integration of AI into existing technologies, leading to increased hardware prices and a potential boost in sales [8][12]. 5. AI Glasses and Market Competition: The market for AI glasses is projected to grow significantly, with major players like Samsung and Xiaomi expected to release competitive products. The overall shipment of AI glasses is forecasted to reach close to 5 million units by 2025, with a tenfold increase anticipated by 2028 [12][14]. 6. Component Demand and Supply Chain: The demand for components such as DRAM is expected to rise due to the high resource consumption of large AI models. The need for increased battery capacity and the introduction of new suppliers are also highlighted as critical factors for growth in the consumer electronics sector [19][20]. Other Important but Possibly Overlooked Content 1. Consumer Feedback and Sales Projections: The actual impact of AI on sales growth remains uncertain, with a strong emphasis on consumer feedback being crucial for accurate sales forecasts [9]. 2. Regulatory and Tariff Concerns: Previous concerns regarding tariffs and their impact on product pricing have been addressed, with Apple successfully applying for exemptions in the past. This suggests a potential for stability in pricing despite regulatory challenges [17][18]. 3. Emerging Technologies and Innovations: The discussion includes the potential for new technologies such as foldable screens and AR glasses, indicating ongoing innovation beyond current product lines [10][11]. 4. Brand Competition: The competitive landscape among brands like Xiaomi, Samsung, and Lenovo is noted, with a focus on how these companies can leverage AI to enhance user engagement and market share [20].