中信证券：受益于存储上行周期以及积极的逻辑需求 看好半导体设备行业的投资机遇

Core Viewpoint - The semiconductor equipment industry is expected to experience significant growth driven by investments from major clients like Intel and rising prices from storage manufacturers, with a forecasted high single-digit percentage year-on-year growth in the global wafer fabrication equipment (WFE) market for 2025 and 2026 [1] Group 1: Market Dynamics - Since September 2025, the stock prices of leading semiconductor equipment companies have risen rapidly due to a series of investment collaborations with major downstream clients like Intel [1] - The current upcycle in storage and positive demand logic from downstream markets are key factors contributing to the anticipated growth in the semiconductor equipment sector [1] Group 2: Future Projections - It is projected that the share of storage in the semiconductor equipment market will continue to increase [1] - The normalization of demand in the mainland China market by 2026 is expected to reduce uncertainties related to regulatory risks previously faced by the industry [1] - The semiconductor equipment industry presents promising investment opportunities based on these trends [1]