Core Insights - The Japanese semiconductor manufacturing equipment market is projected to grow by 14% to 5.59 trillion yen in 2025, marking the first time sales exceed 5 trillion yen and reflecting a robust growth trend in the global semiconductor equipment industry [1] - The growth is driven by two main factors: the explosion of AI chip demand and the recovery of the storage supercycle [2] Group 1: Semiconductor Equipment Market Growth - Japan's semiconductor equipment market is the second largest globally, with a market share of approximately 30% [1] - The sales forecast for 2025 significantly surpasses the 2024 figure of 4.44 trillion yen, indicating strong momentum in the sector [1] - Major semiconductor equipment manufacturers like ASML, Lam Research, KLA, and DISCO have reported strong financial results, highlighting the industry's growth potential [1] Group 2: AI and Storage Demand - The demand for semiconductor equipment is primarily driven by advancements in AI chips and a resurgence in storage technology [2] - The performance enhancement of chips relies on two main technological paths: advancing process technology (e.g., 3nm, 2nm) and adopting complex packaging techniques [3] - The competition among industry giants like TSMC, Intel, and Samsung for advanced nodes is translating into a rigid demand for high-end semiconductor equipment [3] Group 3: Financial Performance of Key Players - ASML reported a net sales increase of 4.92% year-on-year for Q4 2025, with logic orders reaching 5.8 billion euros, reflecting seasonal demand fluctuations [4] - Lam Research achieved record revenue of $20.6 billion in 2025, a 27% increase year-on-year, driven by strong market demand [6] - KLA's revenue for Q2 FY2026 reached $3.3 billion, exceeding market expectations, supported by robust demand for inspection equipment [13] Group 4: Equipment Demand Dynamics - The demand for advanced semiconductor equipment is expected to continue growing, driven by AI technology and the ongoing evolution of storage technologies [18][19] - The structure of orders is shifting, with storage orders now accounting for 56% of ASML's new orders, surpassing logic orders for the first time [19] - The transition to advanced DRAM architectures and NAND stacking technologies is expected to further increase the demand for high-end equipment [21][22] Group 5: Capital Expenditure Trends - Major semiconductor manufacturers are significantly increasing their capital expenditures, with TSMC planning to invest $52-56 billion in 2026, a 28-37% increase year-on-year [26] - Micron and SK Hynix are also ramping up their capital expenditures, focusing on HBM and advanced DRAM production lines [27] - The overall capital expenditure growth for storage manufacturers is projected to be around 40% in 2026, indicating a strong demand for semiconductor equipment [27] Group 6: Future Outlook - The semiconductor equipment market is expected to maintain high growth rates, with ASML projecting revenues between €34 billion and €39 billion for FY 2026 [29] - The introduction of High-NA EUV technology is anticipated to drive significant growth in the coming years, particularly as the industry moves towards 2nm and below processes [32] - The ongoing AI-driven demand and technological advancements are expected to support a long-term growth cycle in the semiconductor equipment industry [33]

公众号记得加星标⭐️，第一时间看推送不会错过。 近日，日本半导体制造装置协会 (SEAJ) 最新统计数据显示，2025年日本制芯片设备销售额 年增14%至5.59万亿日元，连续2年呈现增长且年销售额首度冲破5万亿日元大关，远超2024 年的4.44万亿日元。 作为仅次于美国的第二大半导体设备市场，日本全球市占率达30%左右，其市场的高速增长 不仅彰显了自身的强劲势头，更折射出全球半导体设备行业的蓬勃生机。 近期，ASML、泛林集团（Lam Research）、科磊（KLA）、DISCO等多家半导体设备厂商 陆续发布财报。作为半导体产业链上游环节，AI淘金热中最确定的"卖铲人"，从这些设备厂 商的财报数据和言论中，是否能洞察到行业的发展脉络、未来趋势以及当前值得关注的核心 话题。 AI与存储，双管齐下 无论是光刻、刻蚀、检测还是切割研磨，半导体设备的需求背后，始终是下游芯片产品的技术迭代与产能 扩张。当前，推动设备市场增长的两大核心动力清晰可见：AI芯片的爆发与存储超级周期的复苏。 ASML财报数据 从全年表现来看，逻辑芯片业务贡献了ASML系统收入的66%，这一占比充分反映出台积电、三星、 英特尔等大厂在先进 ...

Key Takeaways U.S. stocks rose in January, setting up five momentum picks spanning tech, beauty, mining and semiconductors.AI data centers and cloud upgrades are boosting demand for Amphenol solutions, Seagate storage and KLA tools.Ulta Beauty and Coeur Mining post solid growth outlooks, with earnings estimates rising across five picks. U.S. stock markets started 2026 on a positive note after an astonishing rally in the last three years. In January, the three major stock indexes — the Dow, the S&P 500 and t ...

We came across a bullish thesis on KLA Corporation on Arya’s Substack by Arya. In this article, we will summarize the bulls’ thesis on KLAC. KLA Corporation's share was trading at $1,427.94 as of January 30th. KLAC’s trailing and forward P/E were 41.57 and 39.22 respectively according to Yahoo Finance. electronics-6055226_1280 KLA Corporation, together with its subsidiaries, designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and rel ...

In the current market session, KLA Inc. (NASDAQ:KLAC) stock price is at $1406.03, after a 1.53% decrease. However, over the past month, the company's stock went up by 2.36%, and in the past year, by 90.56%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is not performing up to par in the current session. Comparing KLA P/E Against Its PeersThe P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, ...

周一全球股市出现"集体撤退"。在贵金属暴跌引发的风险资产抛售潮中，标普500指数期货暗示美股将 迎来连续第四天下跌。比特币在周末走弱后徘徊在7.7万美元附近。 截至发稿，道指期货跌0.09%，标普500指数期货跌0.38%，纳指期货跌0.66%。 欧洲股市则基本持平、波动不大。欧洲股指在开盘大幅下挫后，早盘趋于稳定。英国富时100指数下跌 0.2%，主要受贵金属矿业股拖累。 亚洲市场跌势更重：作为AI交易风向标的韩国Kospi指数暴跌5.3%，大型科技股领跌。韩国市场的急跌 一度触发短暂停牌，监管机构试图抑制波动。日本日经225指数下跌1.3%，能源股和金融股拖累大盘； 香港恒生指数下跌2.2%。 大宗极端波动仍是焦点 商品市场的极端波动仍是市场关注的中心。黄金在一度下跌10%后收窄跌幅；白银曾下挫16%，随后反 弹收复大部分跌幅。市场参与者正评估：在沃什领导下，美联储降息周期可能更慢、幅度更浅，这对贵 金属意味着什么。 马来亚银行的Tareck Horchani表示，特朗普的美联储人选引发了跨资产波动，投资者正重新评估在外 汇、商品和股票上的仓位，尤其是在美元反弹之后更是如此。 加剧波动的另一个因素，是全球 ...

花旗集团将科磊目标价从1450美元上调至1800美元。 ...

来源：滚动播报 花旗集团将科磊目标价从1450美元上调至1800美元。 ...

| KLAC 科磊 | | | --- | --- | | 1427.940 ↓ -256.770 -15.24% 收盘价 01/30 16:00 美东 | | | 1403.670 + -24.270 -1.70% | 盘前价 02/02 04:35 美东 | | 三 2 24 号 S 9 0 一 2 2 | ● 快捷交易 | | 最高价 1585.000 开盘价 1540.000 成交量 278.81万 | | | 最低价 1416.840 昨收价 1684.710 成交额 41.05亿 | | | 平均价 1472.461 市空率 M 41.57 | 总市值 1871.7亿 (... ) | | 振 幅 9.98% 市盈率(静) 47.02 | 总股本 1.31亿 | | 换手率 2.13% 市净率 34.243 | 流通值 1871.68亿 | | 52周最高 1693.350委 比 87.50% 流通股 1.31亿 | | | 52周最低 547.892 量 比 2.30 每 手 1股 | | | 历史最高 1693.350 股息TTM 7.400 | | | 历史最低 4.690 股息率TM 0. ...

❖ 评论： 证 券 研 究 报 告 KLA（KLAC）FY26Q2 业绩点评及业绩说明会纪要 CY2025 营收创新高，2026 年锁定 WFE 份额 提升+先进封装双轮驱动 ❖ 事项： 2026 年 1 月 30 日 KLA 发布 FY26Q2 报告，并召开业绩说明会。公司财务季 度 FY26Q2 截至 2025 年 12 月 31 日，即自然季度 CY2025Q4。CY25Q4，公司 实现营收 32.97 亿美元，同比增长 7%，环比增长 3%；Non-GAAP 毛利率 62.6%。 CY 2025 全年，公司实现营收 127.4 亿美元，同比增长 17%。Non-GAAP 毛利 率 62.8%。 1. 业绩情况：CY2025Q4（FY2026Q2），KLA 实现营收 32.97 亿美元，同比增 长 7%，环比增长 3%，高于指导范围中值（32.25±1.5 亿美元）。Non-GAAP 毛 利率 62.6%，高于指导范围中值（62%±1pct），主要受益于服务业务表现超预 期及制造效率提升。 CY2025 全年，KLA 实现营收 127.4 亿美元，同比增长 17%。Non-GAAP 毛利 率 62.8% ...