芯片ETF（512760）涨超1.1%，半导体行业三重周期共振或推动估值修复

Group 1 - The semiconductor industry is experiencing a comprehensive rebound, driven by a triple resonance of macro policy cycles, inventory cycles, and AI innovation cycles, leading to valuation expansion [1] - TSMC has raised its annual revenue growth forecast from 25% to 30%, indicating strong ongoing demand for AI and a moderate recovery in non-AI demand [1] - The storage technology sector is at a critical juncture, with DDR6 expected to complete certification by 2026, significantly enhancing bandwidth and channel count [1] Group 2 - Google has increased its full-year capital expenditure to $85 billion, reflecting strong demand for AI infrastructure [1] - There is a positive feedback loop between AI applications and computing infrastructure, with Google AI search monthly active users surpassing 2 billion [1] - LCD panel prices are stabilizing overall, with a slight decline in 65-inch products, indicating a reshuffling of the competitive landscape in the industry [1] Group 3 - The Chip ETF (512760) tracks the China Semiconductor Index (990001), which focuses on the Chinese semiconductor industry chain, selecting relevant listed companies from design, manufacturing, to packaging and testing [1] - The index constituents exhibit high technical content and growth potential, reflecting a distinct technology innovation style in asset allocation [1]