点击蓝字，关注我们 目前， 美光正在美国积极推进三大晶圆厂的建设 ，分别位于爱达荷州、纽约州和弗吉尼亚州。公司 2025财年资本支出 预计将达到约140亿美元规模 。 Rakers进一步说明：" 美光新加坡封装工厂已于今年1月破土动工，预计将在2027年显著提升先进封装产 能 。公司此前指出，超过50%的年度资本支出增长将用于爱达荷和纽约晶圆厂的建设，这些项目在2025 和2026财年尚不会形成显著的产能贡献。" 富国银行表示，尽管面临关税政策调整和中国竞争对手崛起的双重压力，美光科技仍维持其先 前披露的市场需求预期，维持"增持"评级，目标价130美元。 智通财经APP获悉，富国银行表示，尽管面临关税政策调整和中国竞争对手崛起的双重压力， 美光科技 (MU.US)仍维持其先前披露的市场需求预期。该行维持对美光科技的"增持"评级 ，目标价定为130美 元。 由首席分析师Aaron Rakers领衔的富国银行研究团队在一份投资者报告中表示："虽然美光未调整其2025 财年第三季度指引(市场此前普遍预期会有积极调整)，但公司对 整体需求前景的评论依然乐观 ， 特别是 在数据中心需求趋势、行业供需格局及价格动态方面 ...

Core Viewpoint - Despite facing dual pressures from tariff policy adjustments and the rise of Chinese competitors, Micron Technology (MU.US) maintains its previously disclosed market demand expectations and is rated "Outperform" by Wells Fargo with a target price of $130 [1] Group 1: Market Demand and Financial Outlook - Micron has not adjusted its guidance for Q3 of fiscal year 2025, which was widely expected to be positively revised, but remains optimistic about overall demand, particularly in data center demand trends, industry supply-demand dynamics, and pricing [1] - Data center business contributed approximately 55% of Micron's revenue in the first half of fiscal year 2025 [1] Group 2: Competitive Landscape - Micron acknowledges that Chinese competitors are primarily focusing on traditional DDR4 solutions, which has been incorporated into the company's long-term supply-demand planning [1] - The company emphasizes that DDR5 solutions have higher technical complexity and will continue to focus on developing the most value-added and complex technology solutions in the market [1] Group 3: Capital Expenditure and Expansion Plans - Micron is actively advancing the construction of three major wafer fabs located in Idaho, New York, and Virginia, with projected capital expenditures for fiscal year 2025 reaching approximately $14 billion [1] - The new packaging facility in Singapore broke ground in January this year and is expected to significantly enhance advanced packaging capacity by 2027, with over 50% of annual capital expenditure growth allocated to the Idaho and New York fabs, which will not contribute significantly to capacity until fiscal years 2025 and 2026 [2]