“换芯”重生！联发科告别成熟业务低迷用AI ASIC讲出市值增长1300亿美元新故事

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智通财经APP获悉，联发科股价正迎来有史以来表现最佳的一个季度。投资者押注，该公司向人工智能(AI)芯片赛道的转型，将助其彻底摆脱传统成熟业务持续低迷带来的估值压制。市场对这家中国台湾芯片公司日益乐观，认为其与谷歌(GOOGL.US)达成的专用集成电路(ASIC)设计合作协议，标志着全新增长引擎的启动。自今年3月底以来，联发科股价已累计上涨174%，成为亚洲市场表现最亮眼的股票之一，市值增长超过...

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MediaTek says goodbye to mature business downturn to tell a new story of market value growth of $130 billion with AI ASIC","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CHAT":1.5,"ARTY":1.5,"ASIC":1.5,"AIPO":1.5,"ON":1.5,"AGIX":1.5},"content_text":"智通财经APP获悉，联发科股价正迎来有史以来表现最佳的一个季度。投资者押注，该公司向人工智能(AI)芯片赛道的转型，将助其彻底摆脱传统成熟业务持续低迷带来的估值压制。市场对这家中国台湾芯片公司日益乐观，认为其与谷歌(GOOGL.US)达成的专用集成电路(ASIC)设计合作协议，标志着全新增长引擎的启动。自今年3月底以来，联发科股价已累计上涨174%，成为亚洲市场表现最亮眼的股票之一，市值增长超过1300亿美元。这一价值重估反映出，随着AI逐渐聚焦日常应用，ASIC正获得越来越多的关注。ASIC能够为大型科技公司提供更低的成本和更高的定制化空间。联发科与谷歌的合作，激发了市场对其争取更多业务、并从该领域的领军企业博通(AVGO.US)手中抢占份额的预期。Financière de l'Echiquier亚洲股票主管Kevin Net表示：“联发科在数据中心ASIC业务上取得了显著进展，投资者对其看法也随之转变。直到今年年初，市场大多仍将其视为一家智能手机芯片公司。”手机芯片目前仍占联发科约一半的营收，使其容易受到智能手机市场疲软的影响——这一点已在公司最新财测中有所体现。然而，随着联发科积极拓展AI业务，看好其前景的投资者已将目光投向更远的未来。ASIC成突破口：后来者的逆袭联发科的突破口正是ASIC。这类芯片比英伟达(NVDA.US)用于AI训练的图形处理器更为便宜。英伟达CEO黄仁勋上周也特别提到ASIC，并预测该领域的迈威尔科技(MRVL.US)将在业务蓬勃发展的推动下，估值达到1万亿美元。市场对联发科的成功预期正在升温。过去几个月，其股价涨幅已超越博通以及同为台湾AI ASIC竞争对手的世芯电子(Alchip Technologies)和创意电子(GUC)。为壮大AI业务，联发科正大举招聘。公司预计，今年AI相关营收将达约20亿美元，2027年还将进一步增长。今年5月，联发科预计其可在一个明年规模达800亿美元的ASIC市场中，夺取最多15%的份额。瑞穗证券亚洲分析师Kevin Wang认为，这一目标或许仍属保守。他指出：“我们预测联发科将在2027年实现其市场份额目标的高端，甚至可能超出预期。”他还提到，谷歌是目前领先的使用AI ASIC的超大规模企业，“这表明联发科有望实现显著的市场份额增长”，公司也正与其他潜在客户进行洽谈。灵活性或将成为联发科赢得业务的关键。晨星公司分析师Phelix Lee指出，联发科虽为该领域的后来者，但“对客户需求通常表现出更大的配合度”。高估值争议：贵不贵?看未来联发科股价在5月底创下历史新高，带动其估值同步攀升至历史高位。目前，其未来12个月的预期市盈率为45倍，而博通为24倍，半导体巨头台积电(TSM.US)为21倍。尽管如此，自2月初以来，市场对联发科未来一年每股收益的共识预期已上调超过30%。分析师评级也绝大多数看好联发科：共有29个“买入”评级，2个“持有”，无“卖出”评级。瑞穗证券的Kevin Wang表示，包括用于智能眼镜等可穿戴设备的芯片在内的“增量AI业务”，有望推动联发科在2027年和2028年实现每年超过60%的盈利增长。他认为：“若能见到如此上行潜力，当前股价并不算贵。”","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"productRelease","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"isLaohu8Offline":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.44.1","shortVersion":"4.44.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2642825685","isCrawlerRequest":true}

“换芯”重生！联发科告别成熟业务低迷 用AI ASIC讲出市值增长1300亿美元新故事

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“换芯”重生！联发科告别成熟业务低迷用AI ASIC讲出市值增长1300亿美元新故事