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摩根士丹利:中国云半导体-前景更加光明
摩根· 2025-07-07 15:45
July 6, 2025 08:00 PM GMT Greater China Semiconductors | Asia Pacific Cloud Semis: Brighter Outlook Ahead With more clarity on Rubin architecture and ongoing ASIC growth in 2026, cloud semis could grow further in 2026. The near-term outlook remains positive for non-rack servers. We reiterate OW on Aspeed and Montage, and raise our Aspeed PT to NT$6100. Key Takeaways 2026 GPU server outlook turning more clear: Post our cloud semis upgrade (link), the key pushback has been the 2026 cloud capex outlook. It rem ...
摩根士丹利:中国-云半导体走向 2025 年下半年低谷
摩根· 2025-05-08 01:49
May 5, 2025 09:00 PM GMT Greater China Semiconductors | Asia Pacific Cloud semis: Heading into the 2H25 trough M Recent developments in the cloud semis space mean our conservative stance holds near-term, but we maintain our view that the cycle could trough in 2H25. Key Takeaways China CIO survey suggests potential downside in 2H25: China cloud capex tends to play catch-up in the late phase of a cloud capex upturn or even in a downturn (link). Our recent CIO survey points to datacenter build-out as a top spe ...