Core Viewpoint - Morgan Stanley's latest report on the panel industry indicates that panel stocks are currently in a weak seasonal period, with declining prices and a buyer's market. However, the upcoming World Cup in 2026 is expected to stimulate inventory replenishment in the first quarter due to promotional activities related to sports events [1] Group 1: Market Conditions - The overall market remains weak, with panel prices continuing to decline, particularly in the television segment [1] - Major panel manufacturers have adjusted their production rates, reducing capacity from 80%-85% in Q3 2025 to below 80% in Q4 2025, but this has not changed the downward price trend [1] Group 2: Price Trends - TV panel prices are expected to remain on a downward trajectory due to the ongoing weak market conditions [1] - IT panel prices showed a slight decline in November, although the drop was less severe than that of TV panels, which is still unfavorable for panel manufacturers [1] - Despite the recent decline, it is anticipated that IT panel prices will remain relatively stable in the coming quarters [1] Group 3: Future Outlook - The next key observation will be when inventory replenishment momentum resumes, with demand potentially shifting to the first half of 2026 due to the World Cup and related promotional activities [1] - The baseline forecast suggests that television brands will begin stocking up in Q1 2026 in preparation for the upcoming events [1]
世足赛救驾！ 大摩曝“需求有望重启”面板双雄目标价给出这数字
Jing Ji Ri Bao·2025-11-23 23:21