天风国际分析师郭明錤发布最新苹果研究报告。在MacBook剪刀脚键盘与iPadSmartKeyboard相关供货商中，我们预估精元、茂林与科嘉在2020年营收成长最显著，预估2020年分别成长70–80%、35–45%与30-40%。当中，精元是最大赢家的原因：（1）市场低估剪刀脚键盘ASP，以及未考虑导光板与高单价iPadSmartKeyboard贡献。
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pingguozaixianshangdian(zhongguo)
（via macrumors）
（2）yinchuizhijichengzizhilingzujian (jianmao、jiegoujianyudaoguangban) gu2019–2021nianlirun/epskenengyouyushichangyuqi；
（3）shouyiyuxindingdan (daoguangbanyuipad smart keyboard)，guyuqi2021nianyingshourengnengqiangjingchengzhang40–50% yoy，nengjianduyouyumaolinyukejia。
apple macbookjiandaojiaojianpanyuipad smart keyboardgongyinglianzai2019–2021nianjiangyouxianzhubianhua，xinshouyizhebaokuojingyuan、maolinyukejia，jingyuanyinyuji2021nianyingshourengnengchixuxianzhuchengzhang40–50%guweizuidayingjia。
macbookjianpanyuipad smart keyboardgongyinglianbianhuadexiangguangonghuoshangbaokuo：jingyuan (jianpan、jianmao、jiegoujianyudaoguangban)、maolin (daoguangban)、hi-p (jianmao) 、kejia (bomokaiguan)、fujikura (bomokaiguan)、zhangyingjingmi (jinshuban)、binchuan (jinshuban) yuanjiekeji (bomo)，womenrenweifuhexinshouyizhedeyaoqiushi2020nianyingshouyindingdanbianhuaerzhishaochengzhang30% yoy，fuhecitiaojiangonghuoshangshijingyuan、maolinyukejia。
（via tianfengguoji）
womenxiugaiyuce：4q19fashoude16cunmacbook projiangcaiyongxinshejijiandaojiaojianpanerfeiyanyonghudiejianpan，qiyudemacbookjixingyejiangzai2020niangengxinzhonggaicaiyongjiandaojiaojianpan，womenyugucaiyongjiandaojiaojixingdemacbookchuhuoliangzai2019、2020yu2021nianfenbiewei40wanbu、1,000wanbuyu1,600wanbu。
womenxiangxinmacbookdeshengchanlitiyanyuchuhuoliangjianghuishouyiyugaicaijiandaojiaojianpan。gaicaiyongjiandaojiaojianpandezhuyaoxiangguangonghuoshangbaokuo：jingyuan、maolin、hi-p、kejia、fujikura、zhangyingjingmi、binchuanyuanjiedeng。
jingyuanweihoupcshidaidexinshouyizhe。xinipadostishengshengchanli，womenyuceipadweilaikewangzhujianqudairumenjipcyubijiben，youlismart keyboardchuhuochengzhang。
womenyugusmart keyboardchuhuoliangzai2019、2020yu2021nianfenbiewei200wanbu、400wanbuyu700wanbu，yuqijingyuanjiangzi2020niankaishichengweismart keyboarddejianpanmokuaixingonghuoshang，bingyouhonghaifuzejianpanmokuaiyubaohutaodezuzhuang。
womenxiangxinshichangdigujingyuan2019–2021niandeyingshou、epsyuqianzaichengzhangkongjian。
（1）shichangdigujingyuanyingshouchengzhang。
- appleyinduiguigeyaoqiugao，gumacbookjiandaojiaojianpandeasp (buhandaoguangban) yue25–30meiyuan，xianzhugaoyuyibanjianpande8–12meiyuan。
- jingyuanyujiyu2020niankaishichuhuodapeijiandaojiaojianpandedaoguangban，gongyingbizhongzai2020yu2021nianfenbie20%yu40%。daoguangbanaspyue8–9meiyuan，gumeitaimacbookduiyingshougongxiankewangcong25-30meiyuantisheng30–35%zhi35–40meiyuan。
- ipad smart keyboardbuyishengchan，aspyuegaoyumacbookjiandaojiaojianpan30–40%yishang，guduiyingshouyouxianzhugongxian。
（2）shichangdigujingyuaneps。
jingyuanzuzhuangjianpanyongdejianmaoyujiegoujianjunshizizhi (vs. weichuangjunweiwaigou)，chuizhijichengyouzhuliruntisheng。womenxiangxin2020nianjingyuankaishichuhuodaoguangbanhou，duilirungongxianjianggengjinyibutisheng。
（3）shichangdigujingyuanqianzaichengzhangkongjian。
womenrenweijingyuannengjianduyouyumaolinyukejiadeguanjianshijingyuanqudeipad smart keyboardxindingdan。womenxiangxinipadjiangzhujianqudairumenjipcyubijiben，erciqushiyouliyugaoasp smart keyboardchuhuo。muqiansmart keyboardshentoulvbudao5%，weilaichengzhangkongjianrengda。
