电子行业周报：16发布会即将来临，黑悟空带动

S 2024ᒪ 08ᴾ 25ᰛ 㤯᷒ iPhone 16ਇᐹՐ঩ሼᶛѪθ唇ᛕグᑜࣞ⑮ᡅ⺢Ԭ䬶䠅 Ă⭫ᆆ㺂ѐઞᣛ ᧞㦆( 㔪ᤷ) ᣋ䍺㾷⛯ ࠼᷆ᐾφ∑↙ S1050521120001 maozheng@cfsc.com.cn ࠼᷆ᐾφੋউ䱩 S1050523060001 lvzy@cfsc.com.cn 㺂ѐ⴮ሯ㺞⧦ 㺞⧦ 1M 3M 12M ⭫ᆆ( ⭩н) - 5.6 - 1.7 - 9.7 ⋠␧ 300 - 2.7 - 7.6 - 10.6 ᐸ൰㺞⧦ 䍺ᯏᶛⓆφWindθ঄䪡䇷࡮⹊ガ ⴮ީ⹊ガ 1 ȽɅ⭫ᆆ㺂ѐઞᣛφཝসࣖ䙕ᐹቶAIᲰ㜳⵲䮒θ᱕䰠㚊ⴕ੥ࣞ䐞૷⢂ӈ㚊ӈ䙐⎁䈋Ɇ2024- 08- 19 2 ȽɅ⭫ᆆ㺂ѐઞᣛφп᱕ੜ䇚ެHBM3E䙐䗽㤧Օ䗴ᡶᴿ⎁䈋θㅢпԙঀሲ։ 8㤧ሮᰬԙࣖ䙕Ɇ2024- 08-1 3 ȽɅ⭫ᆆ㺂ѐщ从ᣛ઀φ3DRAMᰬԙᡌሼࡦᶛθളӝ DRAMᴿᵑ䘄ᶛ਎䶟྇ᵰɆ2024- 08- 08 ȇрઞഔ亴 8ᴾ 19ᰛ- 8ᴾ 23ᰛᖉઞθ⭩нж㓝㺂ѐᲤ䚃༺ӄс䐂Ⲻ⣬ᘷȾެѣ⭫ᆆ㺂ѐс䐂 2.31% θփࡍㅢ 1փȾզٲࢃпⲺ㺂ѐѰള䱨Ƚ㔲ਾȽ⭫ᆆθ⭫ᆆ㺂ѐᐸ⳾⦽Ѱ 4 2.16θփࡍㅢ 3փȾ ⭫ᆆ㺂ѐ㓼࠼ᶵඍ∊䖹θ8ᴾ 19ᰛ- 8ᴾ 23ᰛᖉઞθཝ䜞࠼⭫ᆆ㺂ѐ㓼࠼ᶵඍ༺ӄс䐂ᘷࣵȾެѣθ૷⢂⎾䍯⭫ᆆȽެԌ⭫ᆆȽ䶘ᶵ⏞ᑻᴶཝȾզٲᯯ䶘θᮦᆍ㣥⡽䇴䇗Ƚঀሲ։ᶆᯏȽ⁗ᤕ㣥⡽䇴䇗զٲ≪ᒩփࡍࢃпθLEDȽݿᆜݹԬզٲᧈ੃ᵢઞㅢ഑ȽӊփȾ ȇ iPhone 16ਇᐹՐ঩ሼᶛѪθީ⌞㤯᷒ӝѐ䬴ᣋ䍺ᵰՐ Ԅⴤࢃᐸ൰⎾ᚥᶛⵁθ㤯᷒ޢਮਥ㜳ሼՐ൞ᖉ൦ᰬ䰪 9ᴾ 10ᰛδ्Ӣᰬ䰪 9ᴾ 1ᰛεਢᔶ、ᆙ᯦૷ਇᐹՐθኀᰬiPhone 16ȽAirPods 4ȽAple Watch S10ㅿ᯦૷ҕᴿᵑжжӤ⴮Ⱦṯᦤⴤࢃᐸ൰⎾ᚥ᧞ᯣθiPhone 16ሼޞ㌱䞃༽ 8GB䘆㺂޻ᆎθԛ┗䏩䘆㺂 Aple Inteligenceࣕ㜳Ⲻ AI䴶≸Ⱦᵰ䓡ם䗯䘎ሼ᯦໔жѠ⭫ᇯ䀜᧝ᕅⲺćᤃ➝Ĉ᤿䫤θᯯ׵⭞ᡭֵ⭞ iPhone䘑㺂ᤃ➝/ 㿼仇Ⱦ↚ཌθᐸ൰ሯ AirPods 4Ⲻ⠼ᯏҕ⴮ሯ䖹ཐθфԛᖶуੂⲺᱥθ䘏⅗ AirPods 4ሼՐᴿ 2Ѡ⡾ᵢθ䲚Ҽᑮ㿺⡾ᵢཌθ䘎ՐᴿжѠ儎ㄥ⡾ᵢθ᭥ᤷѱࣞ䲃ಠδANCεᒬъݻ⭫ⴈሼ䞃༽ᢢ༦ಞθਥԛ᫣᭴༦丩ԛ׵ӄሱᢴȾ֒Ѱሯ∊θᖉࢃ AirPods1/2/3ԙ䜳у᭥ᤷ䘏њѠࣕ㜳Ⱦ㤯᷒঩ሼࡦᶛⲺ᯦૷ਇᐹՐᴿᵑᑜࣞӝѐ䬴᯦ж䖤ᣋ䍺ᵰՐθᔰ䇤ީ⌞φ㄁䇥㋴ᇼȽ䎑㞴㛗ԳȽ亼ⴀᲰ䙖Ƚђኧ㋴ᇼȽ咅啄᧝㛗Ƚ⧥ᰣ⭫ᆆȽঐՍ㋴ᐛȽᙓ⋿᯦ᶆԛ਀ѣ⸩〇ᢶㅿȾ ȇɅ唇⾔䈓φᛕグɆ✣ᓜᤷ㔣θPCૂѱᵰㅿ⴮ީ⺢Ԭ䬶䠅⚡⠼ 8ᴾ 20ᰛਇ୤Ⲻ⠼ⅴ⑮ᡅɅ唇⾔䈓φᛕグɆⴤࢃ൞⑮ᡅᐸ൰✣ᓜグࢃ儎⏞Ⱦ8ᴾ 21ᰛθᦤള⑮⭻䬶ῒ㔕䇗θɅ唇⾔䈓φᛕグɆ൞⑮ᡅᒩਦ Steamрᐨ୤࠰䎻䗽 300нԳθࣖрWeGameȽEpicૂ PlayStationㅿᒩਦθࡑсᙱ䬶䠅䎻 450н-30-20-1001020(%)⭫ᆆ⋠␧30䇷࡮⹊ガᣛ઀ 㺂ѐ⹊ガ 䇷࡮⹊ガᣛ઀ 䈭䰻䈱ᴶ੄ж享䠃㾷ރ䍙༦᱄ 2 䈐ؗȽщѐȽどڛȽ儎᭾ ԳȽᙱ䬶୤仓䎻 15ӵݹⲺ֩㔟Ⱦр㓵俌ᰛθެੂᰬ൞㓵⧟ᇬጦٲᮦᐨ䗴ࡦ2нӰθփቻԀᒪ Steam়ਨੂᰬ൞㓵㓠ᖋㅢӂȾ֒Ѱ։僂䈛⑮ᡅѱ㾷䇴༽Ⲻ PC⭫㝇ૂ PS5⑮ᡅᵰθҕ൞ 㓵 р 㓵 с ਺ Ѡ ᒩ ਦ 䘄 ᶛ Ҽ ж ⌘ 䬶 ୤ 儎 ጦ Ⱦ ൞ ㍘ ቲPlayStationཟ⥡ᰍ㡦ᓍθPS5ѱᵰᡆӚ䠅ᴶ䘇жઞੂ∊໔䮵䎻 10%θ䘔㔣 4ཟᡆѰ⭫⧟㻻༽ᡆӚ TOP 1⠼ⅴȾ᮪։ᶛⵁθཟ⥡ 3Cᮦ⸷ᇬ⭞⑮ᡅᵰ䘇жઞᡆӚ䠅ҕੂ∊໔䎻 80%θPS5⑮ᡅᵰȽ⑮ᡅㅊ䇦ᵢȽDIYѱᵰȽ䭤ⴎȽ啖ḽȽ⭫ㄔ㙩ᵰᡆᴶ⚡ TOP 6૷㊱Ⱦᔰ䇤ީ⌞φ䴭⾔〇ᢶȽ䴭ḅ〇ᢶȽ঄चᢶᵥȽᱛ、⭫ᆆȽ⿅ᰛ⭫ᆆㅿ⴮ީḽⲺȾ ȇ伄䲟ᨆ⽰ ঀሲ։࡬㻷ࣖ⸷θᲬ഼সᢟӝу਀人ᵕθ⹊ਇ䘑ኋу਀人ᵕθ൦㕎᭵⋱уどᇐθ᧞㦆ޢਮѐ㔟у਀人ᵕㅿ伄䲟Ⱦ 䠃⛯ީ⌞ޢਮ਀⳾࡟人⎁ ޢਮԙ⸷ ੃〦 2024- 08- 2 3 㛗ԭ EPS PE ᣋ䍺䇺㓝 2023 2024E 2025E 2023 2024E 2025E 002384.SZ ђኧ㋴ᇼ 22.21 1.15 1.29 1.75 15.82 17.26 12.67 ᵠ䇺㓝 002475.SZ ㄁䇥㋴ᇼ 37.89 1.53 1.93 2.41 24.76 19.63 15.72 ໔ᤷ 002600.SZ 亼ⴀᲰ䙖 7.18 0.29 0.30 0.42 23.10 23.77 17.22 ᵠ䇺㓝 002938.SZ 咅啄᧝㛗 34.25 1.42 1.72 2.16 24.12 19.91 15.86 Ҧޛ 300684.SZ ѣ⸩〇ᢶ 15.00 0.71 0.83 0.95 21.13 18.07 15.79 Ҧޛ 301489.SZ ᙓ⋿᯦ᶆ 65.98 1.44 1.89 2.47 45.82 34.91 26.71 ໔ᤷ 601231.SH ⧥ᰣ⭫ᆆ 15.76 0.88 1.03 1.28 17.14 15.30 12.36 Ҧޛ 603283.SH 䎑㞴㛗Գ 59.92 3.43 4.08 4.79 17.47 14.69 12.51 Ҧޛ 603296.SH ঄चᢶᵥ 44.43 3.51 3.98 4.82 12.66 11.16 9.22 Ҧޛ 603890.SH ᱛ、⭫ᆆ 8.14 0.06 0.44 0.68 187.95 18.68 11.98 ᵠ䇺㓝 688097.SH ঐՍ㋴ᐛ 19.57 0.87 1.12 1.41 38.44 17.53 13.88 ᵠ䇺㓝 872190.BJ 䴭⾔〇ᢶ 14.65 0.58 0.76 0.98 25.26 19.28 14.95 ໔ᤷ 䍺ᯏᶛⓆφWindθ঄䪡䇷࡮⹊ガδ⌞φćᵠ䇺㓝Ĉ⳾࡟人⎁਌㠠нᗍж㠪人ᵕε 䇷࡮⹊ガᣛ઀ 䈭䰻䈱ᴶ੄ж享䠃㾷ރ䍙༦᱄ 3 䈐ؗȽщѐȽどڛȽ儎᭾ ↙ᮽⴤᖋ 1 Ƚ 㛗⾞㓺ਾ਀ެ਎ौ ....................................................................... 5 1.1Ƚ ᵢઞ䠃⛯᧞㦆਀᧞㦆㓺 ............................................................ 5 1.2Ƚ ⎭ཌ嗏ཪж㿾 .................................................................... 6 2 Ƚ ઞᓜ㺂᛻࠼᷆਀ኋᵑ ..................................................................... 8 2.1Ƚ ઞ⏞ᑻᧈ