?芯片股牛市叙事仍在“主升浪”! 2026年配置主题紧抓AI芯片、半导体设备与光互连

Core Viewpoint - The long-term bullish narrative for semiconductor stocks remains intact, driven by unprecedented AI infrastructure demand and strong inventory destocking in traditional analog chips and MCUs, with expectations for semiconductor stocks to be one of the best-performing sectors in the U.S. stock market in 2026 [1][2] Investment Themes - Three main investment themes in the semiconductor sector are highlighted: AI chip leaders, expansion in semiconductor equipment spending, and key players in the data center optical interconnect industry [2][3] AI Chip Demand - The demand for AI chips, particularly from leaders like NVIDIA and Broadcom, continues to surge, supported by significant investments from companies like TSMC and Samsung in advanced semiconductor equipment to expand capacity [3][4] Semiconductor Market Growth - The semiconductor market is projected to grow significantly, with sales expected to approach $1 trillion by 2026, reflecting a 30% increase, driven by AI GPU demand and strong performance in storage sectors [4][6] AI Infrastructure Investment - The global AI infrastructure investment wave is still in its early stages, with potential investments reaching $3 trillion to $4 trillion by 2030, indicating a robust growth trajectory for AI-related semiconductor stocks [7][8] Key Stock Picks - Morgan Stanley and Bank of America favor NVIDIA and Broadcom as top picks in the AI chip segment, while also highlighting companies like KLA, Lam Research, and Teradyne in the semiconductor equipment space [5][8] Storage and Equipment Focus - Micron is identified as a preferred stock in the storage chip market, with Applied Materials and TSMC being favored in the semiconductor equipment sector, as demand for advanced manufacturing equipment remains strong [8][9] Optical Interconnect Leadership - Lumentum and Coherent are recognized as leaders in the optical interconnect space, crucial for supporting AI data center networks, with Lumentum's products being integral to Google's TPU AI systems [10][11]