存储芯片迎来超级大周期，掘金A港美三大市场绩优标的_老虎社区_美港股上老虎

存储芯片迎来超级大周期，掘金A港美三大市场绩优标的

智通财经01-23

近期存储芯片板块掀起了投资热潮，A、港及美股全面持续性大涨，部分个股表现突出，其中A股盈方微（00670.SZ）四连板，美股美光科技（MU.US）四个交易日涨幅也超过了15%，港股兆易创新（03986）上市8个交易日涨幅超80%。板块普涨现象的背后，或正酝酿着存储芯片行业的超级牛市周期。智通财经APP了解到，在2025年第四季度，三星电子、SK海力士等头部厂商宣布上调其存储芯片价格，普遍涨幅达...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

暂无评论

热议股票

7x24

全部

{"i18n":{"language":"zh_CN"},"data":{"share":"https://www.laohu8.com/m/news/2605444766?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-01-23 10:25","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2605444766","market":"hk","top_or_hot":-1,"title":"存储芯片迎来超级大周期，掘金A港美三大市场绩优标的","media":"智通财经","content":"<div>\n<p>近期存储芯片板块掀起了投资热潮，A、港及美股全面持续性大涨，部分个股表现突出，其中A股盈方微（00670.SZ）四连板，美股美光科技（MU.US）四个交易日涨幅也超过了15%，港股兆易创新（03986）上市8个交易日涨幅超80%。板块普涨现象的背后，或正酝酿着存储芯片行业的超级牛市周期。智通财经APP了解到，在2025年第四季度，三星电子、SK海力士等头部厂商宣布上调其存储芯片价格，普遍涨幅达...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1396519.html\">网页链接</a>\n\n</div>\n","source":"stock_zhitongcaijing","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>存储芯片迎来超级大周期，掘金A港美三大市场绩优标的</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n存储芯片迎来超级大周期，掘金A港美三大市场绩优标的\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-23 10:25 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1396519.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>近期存储芯片板块掀起了投资热潮，A、港及美股全面持续性大涨，部分个股表现突出，其中A股盈方微（00670.SZ）四连板，美股美光科技（MU.US）四个交易日涨幅也超过了15%，港股兆易创新（03986）上市8个交易日涨幅超80%。板块普涨现象的背后，或正酝酿着存储芯片行业的超级牛市周期。智通财经APP了解到，在2025年第四季度，三星电子、SK海力士等头部厂商宣布上调其存储芯片价格，普遍涨幅达...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1396519.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1852331112.SGD","symbol_name":"Blackrock World Technology Fund A2 SGD-H","start_time":0,"source_url":"http://www.zhitongcaijing.com/content/detail/1396519.html","article_id":"2605444766","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2605444766","pubTimestamp":1769135137,"columns":[],"sourceInfo":{"source_id":"stock_zhitongcaijing","name":"智通财经网"},"weMediaInfo":null,"summary":"板块普涨现象的背后，或正酝酿着存储芯片行业的超级牛市周期。实际上，存储芯片进入新的一轮周期，主要为供给端的稀缺性及需求端AI释放双重影响，市场规模增长有望延续至2027年，而这将为产业链带来市场盛宴。然而，高需求前景下必然加速国产替代，从而为国内存储芯片产业链带来发展契机，而A港美股相关标的也迎来绝佳的投资机会。作为国产存储芯片龙头，或将是国产替代最大的受益标的之一。","collect":0,"end_time":0,"defaultTopTitle":"zhitongcaijing.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"301308":"江波龙","603986":"兆易创新","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","BK4209":"餐馆","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","BK4588":"碎股","LU0823426480.USD":"法巴中国股票经典Dis","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","BK1163":"半导体产品","000670":"盈方微","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU0737861699.HKD":"FIDELITY CHINA FOCUS \"A \" (HKD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4551":"寇图资本持仓","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","IE00B031J352.USD":"FSSA GREATER CHINA GROWTH \"I\" (USD) INC","MUD":"1倍做空MU ETF-Direxion","BK1610":"ETF&股票定投概念","MULL":"2倍做多MU ETF-GraniteShares","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0456846285.SGD":"JPMorgan Funds - Greater China A (acc) SGD","IE0008368742.USD":"首域中国增长基金I Acc","LU1008478684.HKD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (HKD) ACC","LU0540923850.HKD":"ALLIANZ HONG KONG EQUITY \"A\" (HKD) INC","SG9999002463.SGD":"LionGlobal China Growth SGD","03986":"兆易创新","LU1880383440.USD":"AMUNDI FUNDS CHINA EQUITY \"A2\" (USD) INC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU1226287529.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) ACC","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","SG9999006597.SGD":"United China-India Dynamic Growth SGD","LU0052750758.USD":"富兰克林中国基金A Acc","LU0791591158.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"I\" (USD) ACC","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK1507":"粤港澳大湾区","BK4566":"资本集团","LU0056508442.USD":"贝莱德世界科技基金A2","BK4528":"SaaS概念","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","LU0229945570.USD":"TEMPLETON BRIC \"A\" (USD) ACC","LU1675838814.USD":"AB SICAV I - EMERGING MARKETS LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","LU1152091168.USD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" INC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","LU1960683339.HKD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (HKD) ACC","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU0048580855.USD":"富达大中华区A","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","BK4605":"半导体精选","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","IE00BGHQDM52.EUR":"GUINNESS ASIAN EQUITY INCOME \"C\" (EUR) ACC","LU0348788117.USD":"ALLIANZ EMERGING ASIA EQUITY \"A\" (USD) INC","IE00B29SXG58.USD":"FSSA CHINA FOCUS \"I\" (USD) ACC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund  SGD","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. VL \"A\" (USD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU0359201612.USD":"贝莱德中国基金A2","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1224709979.USD":"FIDELITY CHINA FOCUS \"A\" (USD) ACC","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","BK1560":"内银股","LU1688375341.USD":"贝莱德中国灵活股票基金","LU0862451753.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD","LU0797268264.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (HKD) ACC","LU1720050803.USD":"安联全方位中国股票基金","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","BK4527":"明星科技股","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0231483743.USD":"abrdn SICAV I - ALL CHINA SUSTAINABLE EQUITY \"A\" (USD) ACC","LU1719994722.HKD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (HKD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0791590937.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"A\" (USD)","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","LU1770034418.SGD":"ALL CHINA EQUITY \"A\" (SGDHDG) ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","BK4575":"芯片概念","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","BK1231":"综合性银行","LU1282648689.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AMG\" (USD) INC","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","BK0214":"IT设备","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","03143":"华夏香港银行股","BK4579":"人工智能","BK1589":"北水核心资产","LU0109392836.USD":"富兰克林科技股A","IE00BZ08YR35.GBP":"GUINNESS BEST OF CHINA \"C\" (GBP) ACC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0543330566.HKD":"TEMPLETON BRIC \"A\" (HKD) ACC","LU0117841782.USD":"JPM GREATER CHINA \"A\" (USD) INC","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","IE00BZ08YS42.EUR":"GUINNESS BEST OF CHINA \"C\" (EUR) ACC","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","LU0173614495.USD":"富达中国焦点A","LU1152091754.HKD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" (HKD) INC","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","IE00BZ08YT58.USD":"GUINNESS BEST OF CHINA \"C\" (USD) ACC","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU0868486357.SGD":"JPMorgan Funds - Emerging Markets Opportunities A (acc) SGD-H","IE00BYV24P56.USD":"GUINNESS EMERGING MARKETS EQUITY INCOME \"C\" (USD) ACC","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","LU0455707207.USD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (USD) INC","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","BK4532":"文艺复兴科技持仓","IE00BMCWC346.EUR":"GUINNESS EMERGING MARKETS EQUITY INCOME \"C\" (EUR) ACC","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","IE00B031HY20.USD":"FSSA CHINA GROWTH \"I\" (USD) INC","BK4543":"AI","BK4512":"苹果概念","BK1614":"港股-半导体","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","LU1831875114.USD":"SCHRODER ISF ALL CHINA EQUITY \"A\" (USD) ACC","LU0890818403.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD-H","LU1303224171.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) INC","BK4141":"半导体产品","LU0589944569.HKD":"ALLIANZ EMERGING ASIA EQUITY \"AT\" (HKD) ACC","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","LU0918141705.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AM\" (HKD) INC","LU0648948544.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AM\" (HKD) INC","HK0000352291.HKD":"VALUE PARTNERS ASIAN INCOME \"A\" (HKD) INC","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","IE00BVYPNQ40.USD":"GUINNESS ASIAN EQUITY INCOME \"C\" (USD) ACC","LU0469268626.HKD":"AB FCP I-ASIA EX JAPAN EQUITY PTF(AD","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","HK0000352382.USD":"VALUE PARTNERS ASIAN INCOME \"A\" (USD) INC","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","IE0008369823.USD":"FSSA HONG KONG GROWTH \"I\" ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0287142896.SGD":"Fidelity China Focus A-SGD","IE0031814852.USD":"FSSA GREATER CHINA GROWTH \"I\" (USD) ACC","LU2476274720.SGD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (SGDHDG) ACC","IE00BVYPNP33.GBP":"GUINNESS ASIAN EQUITY INCOME \"C\" (GBP) ACC","LU0502904849.HKD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (HKD) ACC","LU1807302812.USD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (USD) ACC","LU1993786604.SGD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (SGD) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU1328277881.USD":"MANULIFE GF DRAGON GROWTH FUND \"AA\" (USD) INC","LU0823426308.USD":"法巴中国股票基金","LU2048586759.USD":"ALLIANZ SMART ENERGY \"AT\" (USD) ACC","LU0082616367.USD":"摩根大通美国科技A（dist）","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU1282649141.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (HKD) INC","LU0314109678.HKD":"MANULIFE GF DRAGON GROWTH \"AA\" (HKD) INC","BK1526":"科网股","BK4023":"应用软件","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","LU0051755006.USD":"摩根大通中国A (dist)","LU0370786039.SGD":"Fidelity Greater China A-SGD","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","BK4554":"元宇宙及AR概念","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU1366334578.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"A\" (USD) INC","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","MU":"美光科技","IE00BF5LJ272.USD":"Legg Mason Martin Currie - Global Emerging Markets A Acc USD","BK4553":"喜马拉雅资本持仓","BK1607":"新IT概念","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) ACC","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","BK4585":"ETF&股票定投概念","LU2476274308.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (USD) ACC","LU0918141887.USD":"安联亚洲实际收益股票基金","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","BK4587":"ChatGPT概念","BK1521":"挪威政府全球养老基金持仓","LU1813983027.USD":"MANULIFE GF DRAGON GROWTH \"AA\" (USD) INC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD"},"translate_title":"Memory chips are ushering in a super cycle, and Nuggets are high-performance targets in the three major markets of Hong Kong and the United States","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"301308":1.88,"603986":1.93,"MULL":0.6,"MU":1.95,"03986":1.93,"000670":1.91,"MUD":0.6,"03143":0.6},"content_text":"近期存储芯片板块掀起了投资热潮，A、港及美股全面持续性大涨，部分个股表现突出，其中A股盈方微（00670.SZ）四连板，美股美光科技（MU.US）四个交易日涨幅也超过了15%，港股兆易创新（03986）上市8个交易日涨幅超80%。板块普涨现象的背后，或正酝酿着存储芯片行业的超级牛市周期。智通财经APP了解到，在2025年第四季度，三星电子、SK海力士等头部厂商宣布上调其存储芯片价格，普遍涨幅达30%，2026年存储芯片延续2025年的涨势。根据TrendForce集邦咨询官网最近公布的价格趋势，内存DRAM及闪存Flash各类型价格均较去年底基本双位数的上涨。而CounterpointResearch发布的月度价格追踪报告指出，预计2026年Q1存储芯片价格还将再涨40%-50%，Q2预计再上涨约20%。存储芯片价格的涨价也推动了板块个股的持续性大涨，今年1月份，A股存储芯片板块涨幅超过25%，美股存储概念涨幅近40%，港股存储概念个股涨幅也超过20%。而投行也看好后市行情，如摩根士丹利在近日发布的研究报告中指出，传统存储芯片供需缺口正持续扩大，2025年第二季度至2026年，行业将迎来新一波超级周期。那么，存储芯片持续性大涨背后的逻辑是什么，而A港美股都有哪些概念标的？绩优及潜力股或迎来投资机会。供给需求双重驱动，存储行业迎来大周期智通财经APP了解到，回顾存储行业的发展周期，根据爱建证券的研报，2016年以来共经历了三个大周期，以四年为一个周期，每个周期都从加速上涨到增速放缓，再到下滑的过程，并伴随着前期涨价潮，而整体市场规模呈现螺旋式上升的趋势。第三个周期为2024年开始启动，主要为AI发展浪潮下智能体需求驱动。2024年，AI大模型加速迭代，推动AI手机、AI服务器以及AI电脑等终端产品的落地，大幅提升了用户购买需求。而DRAM与NAND Flash两大核心存储芯片的下游需求主要由服务器、智能手机及个人电脑（PC）三类终端构成，三者合计贡献比例分别达80%和75%。2025年DeepSeek横空出世，将AI应用成本大幅降低，进入AI智能体时代，云厂商加大资本开支，布局AI服务器及算力中心等相关领域，刺激多场景需求持续增长，推动存储芯片“量价”齐升。实际上，存储芯片进入新的一轮周期，主要为供给端的稀缺性及需求端AI释放双重影响，市场规模增长有望延续至2027年，而这将为产业链带来市场盛宴。从供给端看，DRAM及NAND Flash为两大主流存储芯片，DRAM是一种易失性存储器，可与CPU、GPU 等计算芯片直接交互，用于快速存储每秒数十亿次计算过程中产生的临时信息，这成为AI智能体时代下的硬通货。DRAM技术路线从 DDR1到DDR5，在能耗及传输速度上均不断提升。DRAM供应处于寡头垄断格局，市场份额基本被SK Hynix、Samsung及Micron占有，2024年合计拥有97.49%的市场份额。在2025年，DDR4和DDR5涨价最为抢眼，其中DDR4翻了好几倍，但仍处于缺货状态，引发了囤货潮，第四季度，三星、NAND及美光大幅上调DRAM价格在15-30%。然而，在AI高算力需求下，HBM（高带宽存储）成为DRAM芯片的核心发展方向。HBM是一种基于3D堆叠技术的高性能DRAM，满足AI服务器等智能体对高算力的需求，2025年以来一直都是DRAM的焦点，价格升幅及毛利率均远高于其他类型芯片，且厂商纷纷转向投产该芯片。比如美光2026年底前的HBM产能已全部售罄，及三星将70%的DRAM产能用于生产HBM。此外，NAND Flash是一种非易失性存储器技术，主要用于数据存储，存储技术不断迭代，其等效制程已迈入1x/1y nm 级别，部分头部厂商实现了1znm级别的量产，存储容量持续提升。但产品供应也处于寡头垄断格局，跟据TrendForce 数据，以2024年收入算， Samsung、SK Group、Kioxia、Micron及SanDisk合计市场份额95.3%。NAND Flash和DRAM供应明显被头部几家垄断，且高度重合，稀缺性使得产能及价格具有高度控制权，如在2025年第四季度几家厂商同时上调两款存储芯片价格，其中部分厂商将NAND闪存合约价格上调幅度超过50%。跟据TrendForce集邦咨询统计数据，去年11月28日，NAND闪存合约价格最高跳涨超20%，而今年1月12日，各类产品均全部延续上涨，其中MicroSD 64GB涨幅接近10%。从需求端看，AI大模型不断迭代正在加速AI场景应用的普及，AI智能体包括企业智能体以及个人智能体都在市场期望下雨后春笋般涌现。比如AI PC在2025年成为PC产品中最畅销且增长最快的机型，渗透率不断走高已超过50%。根据Gartner公司的预测数据，2025年 AI PC的全球出货量将达到1.14亿台，同比增长达165.5%。再如AI应用使得对高算力性能服务器需求暴增，驱动AI服务器近两年呈现翻倍的增长趋势，2025年渗透率已近20%。根据弗若斯特沙利文数据，2024年全球服务器市场规模1600万台，其中AI 服务器占比12.5%，预计到2030年服务器市场规模增长至1950万台，AI 服务器占比将达到33.3%。AI多场景应用渗透率不断提升，这主要得益于全球云厂商的资本投入。TrendForce 数据显示，Google、AWS、Meta、Microsoft、Oracle、腾讯、阿里巴巴、百度这八大云服务厂商2024年资本开支2609亿美元，近四年复合增速21.6%，预计到2026年将达到6020亿美元，复合增速51.9%，而这些资本开支主要投入到AI服务器及相关AI相关领域。这意味着，在未来两年AI应用需求将持续井喷。但值得注意的是，对于国内AI智能体终端商而言，在存储芯片上对几家寡头高度依赖，生产极为被动，既要考虑成本又要考虑用户对涨价的可接受度，部分厂商不得不下调今年目标销量。然而，高需求前景下必然加速国产替代，从而为国内存储芯片产业链带来发展契机，而A港美股相关标的也迎来绝佳的投资机会。A港美股标的详解，关注板块绩优龙头其实从A港美股存储板块标的市值表现看，与此次超级大周期时间线基本吻合，2024年开始启动，2025年放量大涨，2026年进入加速行情。从东方Choice数据看，A股存储芯片标的共有98只标的，其中概念较为纯正的市场龙头标的主要为江波龙（301308.SZ）及盈方微。江波龙核心产品囊括嵌入式存储、固态硬盘、移动存储、内存条，广泛应用于主流消费类智能终端（如智能手机、可穿戴设备、电脑等）及数据中心等场景。该公司于2024年已成功开发 512Mb 到 8Gb 之间的五款 SLC NAND Flash 存储芯片，并积极扩展小容量存储芯片产品线，涵盖 MLC NAND Flash及NOR Flash，同时加快面向企业级应用的高性能 eSSD（PCIeGen 5.0）布局。该公司收入基本来源于存储产品，2022-2024年收入复合增速高达44.8%，2025年前三季度收入增长26.12%，盈利方面也较为给力，同步收入增速。作为国产存储芯片龙头，或将是国产替代最大的受益标的之一。截止目前，该公司PB估值为20.1倍，处于三大市场（港A美）板块中等偏上水平。盈方微主要从事电子元器件的分销业务，其中就包括存储芯片，2024年底其成功取得中国领先存储芯片制造商长江存储（YMTC）的代理权，该产品线在2025 年上半年实现亿级销售规模。长江存储是国内存储芯片龙头，依托 Xtacking 堆叠架构这一自主研发的核心技术突破，成功实现3D NAND Flash工艺的快速迭代，同时达成产能规模的持续突破，盈方微将受益于长江存储带来的发展机遇。该公司近几年收入保持双位数的增长，但盈利方面并不可观，已经连续三年亏损，2025年预亏为0.97亿元。而由于常年亏损，加上高负债率水平，公司目前业务压力较大，截止2025年9月，公司资产负债率高达81.2%，不过期间大幅降低了有息债水平。该公司四连板后，缺乏长线资金进场，博弈风险较高。从富途行情看，美股存储概念有7只标的，包括美光科技、希捷科技、西部数据及慧荣科技等，其中美光科技及西部数据是存储概念双龙头。美光主要产品包括DRAM及NAND Flash为两大主流存储芯片，受益于存储芯片价格上涨，近三年业绩保持中高双位数增长，而西部数据拥有丰富的存储产品组合，覆盖云服务、客户业务以及消费者业务，业绩增速略逊于美光，但2025年也保持了高增长态势。2025年以来，美光科技和西部数据市值均保持了强劲的上涨势头，涨幅分别达3.74倍及4.42倍，估值方面，PB值分别为7.6倍及14倍，由于盈利能力较高，PE值分别仅为38倍及35.6倍。两家公司主要覆盖全球市场，在中国市场收入占比不高，对国产替代影响较弱，存储芯片价格上涨预期下，该估值仍有向上空间。港股市场纯正的存储芯片标的较为稀缺，核心标的为兆易创新，是中国Fabless模式芯片设计领军企业之一，主营产品包括存储、微控制器MCU、传感器芯片及类比芯片。在Flash存储领域，公司的NORFlash市场份额排名全球第二，内地第一，在产业内的向上势头持续，行业地位稳固。该公司存储芯片贡献收入近70%，整体业绩表现同步于行业，也于2024年开始实现双位数的增长，在收入及产品单价提升下，盈利能力持续大幅提升。在估值方面，2025年以来，其A股市值升幅高达1.8倍，今年1月13日登录港股市场，并获得投资者青睐，上市8个交易日市值升幅超过80%，目前PB为10倍。此外，产业链上游也将受益于存储芯片上涨及国产替代，中芯国际（00981）以及华虹半导体（01347）作为两大港股晶圆代工龙头，或充分受益于行业发展红利。两家公司均提供8寸及12寸晶圆，主要应用于存储器及功率器件等，场景覆盖智能手机、平板电脑、消费电子及工业及汽车等。2025年Q3，中芯国际晶圆月产能超过100万片，产能利用率超过95%，而华虹为46.8万片，产能利用率长期超过100%。虽然存储芯片“量价”齐升，上述两家公司业绩表现却呈现一定的分化，中芯国际近两年保持双位数收入增速，而2025年盈利得到显著改善，前三季度净利率提升至11%，华虹收入增长虽赶上来了，但盈利方面仍欠佳，连续三年持续大幅下滑。不过在下游板块的带动下，上述两家公司市值于2025年以来均有不错的表现，升幅分别为1.45倍及4倍，PB估值均为3.8倍。总的来说，存储芯片行业迎来了超级大周期，在供给稀缺性及需求暴增的背景下，“量价”齐升将是常态，或推动行业市场规模以及参与者业绩的持续井喷，为产业链带来绝佳的投资机遇。可关注A港美股板块龙头，以及业绩表现优秀的标的，兆易创新新股上市不久，热度较高，今年有望成为港股存储概念板块龙头。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}