半导体行业（美股）周报：半导体代工涨价，关注美劳动力市场变化

Investment Rating - The semiconductor industry is currently experiencing a cyclical adjustment, with a positive outlook for companies like TSMC, NVIDIA, AMD, Intel, and Qualcomm [47]. Core Insights - TSMC has secured significant orders, reflecting strong market demand and its leading position in advanced process technology. The company's capacity is fully booked, and clients are likely to agree to price increases for stable supply, which may lead to improved gross margins. Bloomberg industry research predicts TSMC's revenue will exceed market expectations by 10% [39][47]. - The semiconductor sector saw a weekly increase of 3.27% in the Philadelphia Semiconductor Index, indicating a recovery trend in the market [47]. - The U.S. labor market is showing signs of cooling, with a non-farm payroll increase of 206,000 jobs in June, which is above market expectations but accompanied by a rise in the unemployment rate to 4.1%, the highest level since October 2021. This mixed signal may influence future monetary policy decisions [41][44]. Summary by Sections Market Performance - The U.S. stock market experienced adjustments, with the Dow Jones, S&P 500, and Nasdaq showing weekly increases of 0.53%, 1.68%, and 2.65%, respectively. The semiconductor index outperformed with a 3.27% increase [33]. Individual Stock Performance - Notable weekly stock performance in the semiconductor sector includes TSMC (6.77%), AMD (9.01%), and Broadcom (3.81%). Other companies like Intel and Qualcomm also showed positive growth [36][38]. Events/Policy Analysis - TSMC is set to produce new 5G flagship chips for MediaTek and Qualcomm using its 3nm process, with demand expected to remain high through 2026. This positions TSMC favorably for revenue growth [39]. - The Federal Reserve's monetary policy is under scrutiny as inflation data suggests a cautious approach to interest rate changes, with expectations of potential rate cuts later in the year [41][44]. Investment Recommendations - The report suggests maintaining a positive outlook on TSMC, NVIDIA, AMD, Intel, and Qualcomm due to their strong market positions and growth potential [47].