存储巨头业绩炸裂！大摩高喊“芯片通胀”

市场资讯08-12

来源：东方财富研究中心　　存储芯片概念周三大涨，截至午间收盘，先导基电、至纯科技（维权）等涨停，骄成超声、长鑫科技等多股跟涨。　　据上证报，近期SK海力士、三星半导体、铠侠、闪迪、西部数据等存储巨头先后披露业绩。在出货量增长、产品价格大幅上涨的双重因素驱动下，存储公司普遍实现业绩高增长。基于AI的需求尤其是数据中心端需求依然旺盛，大容量存储依然处于缺货状态。展望第四季度，存储市场整体有望...

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Morgan Stanley shouts \"chip inflation\"","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/25124abc78e49e0816f419781239f544","symbols_score_info":{"159813":1.5,"BSR":1.5,"FITZ":1.5,"TEKX":1.5,"TLT":0.6,"CHPY":1.5,"IGOV":0.6,"SGOV":0.6,"CHPS":1.5,"TFJL":0.6,"SMHX":1.5,"ISHG":1.5,"FLXI":1.5,"SOXS":1.5,"SOXY":1.5,"TLTI":0.6,"SOXX":1.5,"TLTW":0.6,"CHAT":1.5,"BBLB":0.6,"BWX":0.6,"RULE":1.5,"XSD":1.5,"IEF":0.6,"FTXL":1.5,"SOXL":1.5,"KBWB":0.6,"TLTX":0.6,"SSG":1.5,"TSYW":0.6,"IAI":0.6,"BBIB":0.6,"PSI":1.5,"USD":1.5,"TPLS":1.5,"RMIF":1.5,"EDGF":1.5,"SHY":0.6,"CRXP":1.5,"SOXQ":1.5,"BBSB":0.6,"BWZ":0.6,"UNIY":1.5,"TBJL":0.6,"SHV":0.6,"CWS":1.5,"IEI":0.6,"SMH":1.5,"FLGV":0.6,"SMHU":0.6},"content_text":"来源：东方财富研究中心\n\n　　存储芯片概念周三大涨，截至午间收盘，先导基电、至纯科技（维权）等涨停，骄成超声、长鑫科技等多股跟涨。\n\n　　据上证报，近期SK海力士、三星半导体、铠侠、闪迪、西部数据等存储巨头先后披露业绩。在出货量增长、产品价格大幅上涨的双重因素驱动下，存储公司普遍实现业绩高增长。基于AI的需求尤其是数据中心端需求依然旺盛，大容量存储依然处于缺货状态。展望第四季度，存储市场整体有望维持现有价位，企业级存储价格则将表现更优。\n　　存储芯片公司闪迪（Sandisk）首席执行官在上周的财报电话会议上表示，“在过去两三个季度里，我们花了大量时间与最大的客户深入沟通，确保他们承诺购买我们的产品，”闪迪CEO戴维·格克勒（David Goeckeler）说道：“现在我们已经掌握了超过四年的市场需求。我们对公司目前的市场前景非常满意。”\n　　多位存储行业人士表示，“总体上看，存储市场今年第四季度有望维持现有价位，大容量、企业级存储价格则将表现更优。虽然消费市场无力承受存储高价格，景气已经低迷，但基于AI的需求尤其是数据中心端需求依然旺盛，大容量存储仍将持续处于缺货状态。”\n　　主力资金：抢筹存储概念股\n　　东方财富Choice数据显示，自今年8月1日以来，主力资金抢筹了一批存储概念股。其中生益科技排名第一，主力净买额近30亿元；深南电路排名第二，主力净买额超16亿元。\n　　华虹宏力、江波龙、有研新材、协创数据、国科微、长电科技、科翔股份、圣邦股份、江丰电子等个股主力净买额在14亿元至7亿元之间不等。\n\n　　大摩：“芯片通胀”或持续多年\n　　人工智能（AI）需求激增正导致内存芯片价格飙升，引发了“芯片通胀”。摩根士丹利最新警告称，内存芯片的需求快速飙升和随之而来的高价不太可能很快结束，或持续多年。\n　　摩根士丹利分析师Erik Woodring周二发布了一份关于如何应对内存芯片价格上涨的新报告，引起市场关注。\n　　Woodring写道：“首先，越来越明显的是，企业将内存‘芯片通胀’视为持续多年的结构性阻力。企业并没有等到价格降温才购买硬件，而是迅速优先/加快购买个人电脑、服务器和存储阵列，以锁定最优惠的价格并减少供应短缺，也就是所谓的‘害怕错过采购机会’。”\n　　他还补充说，他认为企业硬件公司，尤其是那些与服务器和存储主题相关的公司，其盈利预期还有进一步上涨的空间。具体而言，Woodring看好惠普、纯粹储存公司（Everpure）、TD Synnex和联想。\n　　Woodring写道：“自2025年初以来，硬件股已上涨超过100%，在美国，其综合市盈率高达25倍，几乎是此前峰值的两倍……换句话说，我们可能更接近上行周期的尾声而非开端，而且硬件股的估值在历史上非常高。”\n　　但他补充道：“并非所有股票都一样。与其追逐那些估值已经大幅提升、交易价格远高于历史区间、且过度依赖周期性利好因素的股票，我们更倾向于保持投资纪律。我们仍然认为，在当前周期阶段，存在着投资优质股票的机会，这些股票受益于更持久的基础设施支出，并受到结构性估值利好因素和利润率进一步提升的支撑。”","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","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":"CCBot/2.0 (https://commoncrawl.org/faq/)","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/2658923223","isCrawlerRequest":true}