半导体销售展望 美银大幅度上修

Group 1 - The core viewpoint of the article is that Bank of America has raised its global semiconductor sales outlook, predicting it could approach $1 trillion by 2027, up from the previous estimate of $860 billion [1] - Bank of America reaffirms its five preferred semiconductor stocks: Nvidia, Broadcom, AMD, Lam Research, and KLA, highlighting their strong positions in data centers and memory outlooks [1] - Despite weak momentum in consumer and automotive markets slightly offsetting gains, the growth prospects for memory, including high bandwidth memory (HBM), standard DRAM, and NAND, have significantly improved [1] Group 2 - Bank of America has also raised its outlook for semiconductor manufacturing equipment spending, estimating it will reach $118 billion in 2025, $128 billion in 2026, and $138 billion in 2027 [2] - The capital intensity is expected to remain between 14% to 17%, which is higher than the long-term average of 13%, reflecting increased chip complexity and demand for AI infrastructure [2]