研報掘金丨華西證券:首予歌爾股份“增持”評級,AI賦能端側創新
華西證券研報指出,歌爾股份(002241.SZ)為全球聲光電一體化龍頭廠商,2015年起公司實施“零件+成品”戰略,逐步打造精密零組件+智能聲學整機+智能硬件三大產品矩陣。AI/XR眼鏡:成長空間廣闊,前瞻佈局未來可期,VR眼鏡短期出貨承壓。預計2025年全球AI眼鏡銷量有望800萬副, 2030年銷量有望增長至超1億副。另外,隨着端側AI技術的日益成熟,AI耳機有望持續拓展和深化場景應用,為耳機市場帶來新的增長驅動力。公司已與蘋果、華為、OPPO等頭部客户達成緊密合作,與此同時公司零件整機協同發展,提供一站式解決方案,助力TWS業務穩定發展。首次覆蓋,給予“增持”評級。
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