The theme of today’s report is “Finding the Best-selling Easter Eggs on iPhone 12.”
At present, the number of reservations for the iPhone 12 on China’s JD and Suning platforms exceeds one million. The arrival date of the iPhone 12 will be delayed by one to two weeks, and the iPhone 12 Pro will be delayed by three to four weeks, which is two times later than last year’s iPhone 11. Looking at it in three weeks, it is clear that the iPhone 12 will sell well in China and even the world.
Eggs are eggs decorated in Western countries to celebrate Easter. Eggs are used to symbolize the resurrection of life. Later, they become something that only the insider can find out, expressing hidden messages.
Wanbao Investment Gu Cai Mingzhang emphasized that the first easter egg of iPhone 12 is “Apple fully transferred to Type-C.”
There are 100 million 5G users in China, 7 million in South Korea, and only 1 million in the United States. The number of 5G base stations in China is 10 times that of the United States. The lack of 5G base stations in the United States limits the use of iPhone 12. No wonder iPhone 12 will be the first Start selling in China.
However, the epidemic in Europe and the United States this year has expanded and limited outings in winter have increased the frequency of using iPhone 12 indoors. The epidemic has made home work the norm. At the end of this year, the wave of high-speed transmission upgrades driven by the USB 4.0 standard has started. Previously, power cords and audio cables were used. , Video transmission, network signal cables, now only a USB-C can be replaced, USB 4.0 is very powerful, the maximum transmission speed of 40GB per second, 27,000 times the first generation.
In September’s Apple press conference, the iPad Air abandoned the Lightning interface and modified the USB-C slot. Apple has prepared for a full shift to USB-C. In October, the iPhone 12 will also be USB-C. USB-related output value is estimated to be new in 2020. NT$1.4 trillion, Taiwan’s USB supply chain has strength, and this is an explosion of trillion yuan business opportunities.
The USB industry chain includes upstream chipsets, control ICs, connectors, midstream motherboards, cables, and downstream keyboards, mice, card readers, etc., as well as laptops, mobile phones, flash drives, and most importantly, USB control IC.
The stock price reflects the future. In November, Apple announced the cheapest MacBook in history, priced under US$800, with a price of NT$25,000. It was the first to abandon the Intel platform and use its own processor designed with an embedded architecture. It is provided by Intel. With the arrival of Apple’s self-made platform in the fourth quarter, orders for USB 4.0 chips will be fully released. USB master IC factory Xiangshuo (5269-TW), USB hub IC factory Genesis (6104-TW), USB control IC Weifeng Electronics (6756-TW) is expected to grab the new big order from Apple.
Xiangshuo’s EPS will challenge 4 equity this year. Among the wealthy, the outlook for 2021 is the best. Genesys Logic used USB hub IC products to enter Apple’s peripheral products. It is already Apple’s long-term supply chain. This year’s EPS is estimated at 4.5 yuan, compared with last year. 2.2 yuan, doubled.
I have an eternal regret for MacBook users. There are only two Type-C junctions. If one is used for charging, only one is left for external devices. It is very inconvenient when working at home, but rumored to be the MacBook that will be released in November. In terms of cost, there is only one Type-C left, which will make the docking station explode after the end of this year. It supports fast charging, 4K output, USB3.0, and SD card. The penetration rate of the docking station in laptops is only 10%. Because of the design problem of the terminal product, if the Apple MacBook fires the first shot, only one Type-C interface will be left, which will drive a big business opportunity for the docking station.
Next year, the use of docking stations for laptops will more than double. The global leader in docking stations, Dongshuo (3272-TW), has a market share of 65%. This year, EPS is expected to challenge 5 yuan, and other non-Apples will follow up. The cheap version of NB may also have only one Type-C interface.
Wanbao Investment Gu Cai Mingzhang emphasized that the second easter egg is “TWS rapid growth.”
The elimination of earphones on iPhone 12 has increased the demand for AirPods, and working at home has increased the demand for TWS. It will become the normal life of young people to exercise while listening to music. In the TWS market, AirPods accounted for as much as 70% of the market. In 2019, global TWS sales grew by 200%, and AirPods sold nearly 60 million units. The elimination of earphones on the iPhone 12 caused sales to grow by 60%, challenging 100 million units.
This makes acoustic components, including Meilu (2439-TW) and Kangkong-KY (4943-TW), the performance will grow rapidly in the future. Meilu’s September revenue hit a record high, indicating that the bottom has passed and it is expected to receive Profits increased by 35% each year.
Wanbao Investment Gu Cai Mingzhang emphasized that the third easter egg is the “League of Legends Mobile Game.”
The most popular game E-sports League of Legends will be launched from PC to iPhone 12. League of Legends is the number one PC game in the world. There are 100 million registered users worldwide. The number of viewers of League of Legends finals is 60 million, which is higher than that of NBA. More, the A14 chip plus 5G makes the iPhone 12 50% faster than other mobile phones, which is very suitable for online gaming and gaming.
We look at Logitech International, a major international company. Its stock price has risen 72% this year. Razer, which is listed on the Hong Kong stock market, has risen 56% this year. The WHO and IMF have warned that home isolation may be extended to the entire year of 2021. Competitive game stocks, Gigabyte (2376-TW), MSI (2377-TW), Thermaltake (3540-TW), Qiaowei (3078-TW), Weixun (3032-TW), Haiyun Electronics (6203-TW) ), this year’s EPS exploded, and the further delay in the development of the new crown vaccine, these stocks rose more fiercely.
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