摩根大通：半导体设备 -TMC 会议总结：人工智能数据中心需求持续强劲；半导体行业整体周期性改善

J P M O R G A N North America Equity Research 16 May 2025 Semiconductors/Semicap TMC Conference Summary: Sustained Strength in AI/ Datacenter Demand; Broad-based Semi Cyclical Improvements; Solid WFE Trends..No Signs Yet Of Potential Tariff/Trade Headwinds This week, we hosted 13 semiconductor and semiconductor capital equipment companies at our 53rd annual Global Technology, Media, and Communications Conference. Overall we came away with a view that the industry is in the early stages of the semi up-cycle ...