2026 科技：3 月重视设备+耗材扩产链 20260226 摘要 半导体设备板块在经历前期情绪性回撤后，受益于"两存"上市节奏预 期修正、海外存储厂商明确扩产信号以及 3 月设备招标启动，具备继续 上涨的基础，中期来看，"两存"存储设备扩产预期已上修至 14 万片 到 15 万片左右。 2026 年"两存"扩产增量主要来自长存二厂、三厂及长鑫合肥、北京、 上海新厂，预计两家合计扩产至少 14 万片到 15 万片，设备订单增速接 近翻倍，设备公司有望依次经历"谈订单—下订单—收入释放"的兑现 过程。 国内先进逻辑产能存在显著供需缺口，台积电暂停为中国先进逻辑厂商 代工后，国产 AI 芯片对国内先进制程代工需求显著提升，预计 2026 年 先进逻辑总体扩产约 8 万片，增速在 50%以上。 成熟逻辑方面，28nm 应用于 SoC、IoT、汽车芯片，应用前景广阔， 且存储晶圆的逻辑外包带来新增需求，未来 3D NAND 与 DRAM 合计需 求可能在"百万片以上"，推动更大规模的 28nm 扩产需求。 成熟逻辑扩产的驱动因素是什么，存储相关逻辑外包对 28nm 产能意味着什么？ 走向更激进的动力；三是 3 月份年 ...

经济观察网 泛林集团发布2026财年第二季度财报，营收与净利润均超市场预期，第三季度业绩指引强 劲。财报公布后股价显著上涨，成交活跃。公司董事近期减持股份，桥水基金亦有减持但泛林仍为其前 十大持仓之一。多家机构维持积极评级，看好其在先进逻辑、DRAM和先进封装领域的布局。 机构观点 2026年2月，多家机构对泛林集团给予积极评级，35家机构中71%维持买入或增持观点，无机构给出减 持评级，目标均价为278.11美元，较当前股价存在上行空间。分析师看好其业绩增长和行业前景，尤其 在先进逻辑、DRAM和先进封装领域的布局。 以上内容基于公开资料整理，不构成投资建议。 股票近期走势 近7个交易日（2026年2月8日至2月13日），泛林集团股价受财报利好驱动波动显著。2月6日财报公布 后，股价单日大涨8.30%至231.01美元；截至2月13日收盘，股价报235.53美元，较2月6日上涨1.96%， 区间振幅达9.75%。成交额方面，2月11日达17.87亿美元，量能活跃，均线系统呈多头排列。根据实时 行情，2月13日最新收盘价为235.53美元，单日涨幅1.83%，年初至今累计上涨37.59%。 近期事件 2026 ...

Core Viewpoint - The report from CITIC Securities indicates that demand related to AI data centers continues to grow rapidly in Q3, with a recovery in mobile phone shipments and strong demand for new Apple devices, alongside robust automotive demand and a sustained recovery in other industrial toB downstream demands [1] Industry Summary - AI data center demand is experiencing high-speed growth in Q3 [1] - Mobile phone shipments have recovered with year-on-year growth, and demand for new Apple devices is strong [1] - Automotive demand remains strong, and other industrial toB downstream demands are continuously recovering [1] Company Summary - Domestic computing power is showing a clear trend of breakthrough, with market share continuously increasing [1] - Expectations for expansion in advanced storage and advanced logic are strengthening [1] - Revenue for equipment companies is experiencing stable growth, although profits are showing short-term differentiation [1] - Companies related to storage and backend processes are performing exceptionally well [1] Sector Performance - Notable segments with strong performance include: computing-related PCBs, leading domestic computing chip companies, storage and transport chip leaders, Apple supply chain leaders, and equipment leaders [1] - The overall industry outlook remains positive, with AI being the largest driving force [1] - There is a resonance in growth between overseas and domestic computing power, and the expansion of advanced logic/storage is expected to accelerate [1] Investment Recommendations - The report recommends focusing on four main lines: semiconductor equipment chain, domestic computing chain, overall recovery in consumer electronics, and overseas computing chain [1]