Guosen Securities: Under the marginal drive of AI Computing Power demand, the semiconductor industry is ushering in a relatively strong and sustainable uptrend cycle.
Jinshi Data, October 21st news, Guosen Securities released a research report stating that with the formation of the market's 'policy bottom', the expectation of fiscal loosening has strengthened, and the market's risk preference has risen. In the policy orientation of 'stabilizing the rise and adjusting the structure', the hard technology zone has both the characteristics of 'economic cyclical prosperity' and 'new productive forces'. In addition to the emotional aspect, semiconductors have completed sufficient destocking and supply-side clearance in the downward cycle of the past two years. Now, with the marginal boost of AI computing power demand and the expectation of a new round of terminal AI innovation, the industry is entering a strong and sustainable upward cycle. In terms of chip surface, with the strong willingness to subscribe to semiconductor and hard technology ETFs, the impact of the market trend of index component stocks is gradually forming a positive cycle. On October 11th, E Fund SSE STAR50 ETF has already taken a stake in SMIC, which is the first time for listed companies. Based on the above factors, it is recommended to take an optimistic view of the sustainability of the semiconductor market.
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Guosen Securities: Under the marginal drive of AI Computing Power demand, the semiconductor industry is ushering in a relatively strong and sustainable uptrend cycle.
Jinshi Data, October 21st news, Guosen Securities released a research report stating that with the formation of the market's 'policy bottom', the expectation of fiscal loosening has strengthened, and the market's risk preference has risen. In the policy orientation of 'stabilizing the rise and adjusting the structure', the hard technology zone has both the characteristics of 'economic cyclical prosperity' and 'new productive forces'. In addition to the emotional aspect, semiconductors have completed sufficient destocking and supply-side clearance in the downward cycle of the past two years. Now, with the marginal boost of AI computing power demand and the expectation of a new round of terminal AI innovation, the industry is entering a strong and sustainable upward cycle. In terms of chip surface, with the strong willingness to subscribe to semiconductor and hard technology ETFs, the impact of the market trend of index component stocks is gradually forming a positive cycle. On October 11th, E Fund SSE STAR50 ETF has already taken a stake in SMIC, which is the first time for listed companies. Based on the above factors, it is recommended to take an optimistic view of the sustainability of the semiconductor market.