智通财经网·2025-12-18 02:00Core Viewpoint - The semiconductor sector, particularly AI chips, is expected to continue its bullish trend into 2026, driven by unprecedented AI infrastructure investments and strong inventory depletion of traditional chips [1][2][4]. Group 1: Investment Outlook - Morgan Stanley and Bank of America both highlight that the semiconductor sector will remain a focal point for investment, with Nvidia (NVDA.US) and Broadcom (AVGO.US) identified as top picks for 2026 [1][2][4]. - The semiconductor market is projected to grow significantly, with estimates suggesting a total market value of $975.5 billion by 2026, representing a 26% year-over-year increase [5]. Group 2: Key Investment Themes - Three main investment themes are identified: AI chip leaders, expansion of semiconductor equipment spending, and key players in the data center optical interconnect industry [2][3]. - The demand for AI chips, particularly from Nvidia and Broadcom, is expected to remain robust, with significant investments in advanced semiconductor equipment from companies like TSMC and Samsung [3][6]. Group 3: Market Dynamics - The semiconductor industry is experiencing a strong recovery, with a notable resurgence in MCU and analog chips anticipated by 2026 [5]. - The ongoing AI arms race is still in its early to mid-stages, with expectations of continued high growth rates for AI semiconductors, potentially exceeding 50% year-over-year [4][6]. Group 4: Company-Specific Insights - Morgan Stanley favors Micron (MU) in the storage chip market and Applied Materials (AMAT.US) and TSMC (TSM.US) in the semiconductor equipment sector [7]. - In the optical interconnect space, Lumentum (LITE.US) and Coherent (COHR.US) are recognized as leaders, particularly in supporting AI data center networks [10][11].