8月12日，针对网络传言"美光近日中国区裁员"一事，这家美国芯片巨头做出回应。 美光表示，鉴于移动NAND产品在市场持续疲软的财务表现，以及相较于其他NAND机会增长放缓，该公司将在 全球范围内停止未来移动NAND产品的开发，包括终止UFS5的开发。 该公司称，此项决策仅影响全球移动NAND产品的开发工作，美光将继续开发并支持其他NAND解决方案，如 SSD和面向汽车及其他终端市场的NAND解决方案。美光还将继续在全球范围内开发和支持移动DRAM市场，并 提供业界领先的DRAM产品组合。 eet-china报道称，随着大型科技公司加大对AI数据中心的投资，美光科技等半导体制造商的高带宽内存(HBM)芯 片凭借其强大的数据处理能力，订单激增。 美光科技在声明中表示，截至8月28日预计季度营收为112亿美元，上下浮动1亿美元，而此前的预期为107亿美 元，上下浮动3亿美元。 美光科技还将第四季度调整后毛利率预期上调至44.5%，上下浮动0.5%，此前的预期为42%，上下浮动1%。 2024年3月，美光总裁兼首席执行官Sanjay Mehrotra在一次演讲中表示，这家美国公司已经持续投资中国市场超过 20年，在北 ...

Group 1 - Tesla has signed a semiconductor supply agreement worth $16.5 billion with Samsung Electronics, confirmed by both parties [1] - The agreement will focus on the production of Tesla's next-generation AI6 chips at Samsung's new wafer plant in Texas, which is strategically located near Musk's residence [1] - The contract is effective from July 26, 2024, and will last until December 31, 2033, highlighting a long-term partnership [1] Group 2 - Samsung, while being the second-largest foundry globally, is lagging in the high-bandwidth memory (HBM) chip market compared to competitors like SK Hynix and Micron Technology [2] - The delay in Samsung's plan to obtain NVIDIA's HBM chip certification until at least September further hampers its competitive position [2] - Samsung is expected to report a significant decline in profits in its upcoming second-quarter earnings announcement [2]

三星电子第二季度的疲软业绩表现加剧了投资者对三星在人工智能芯片领域竞争力的担忧，其用于AI 数据中心的高带宽内存(HBM)芯片研发进度已落后于主要竞争对手。当前SK海力士与美光科技 (MU.US)正受益于AI内存芯片的旺盛需求，而三星电子因过度依赖中国市场导致增长受限——美国对中 国先进芯片销售的限制政策，直接影响了三星在该区域的业务拓展。更关键的是，三星电子最新一代 HBM芯片尚未通过AI芯片巨头英伟达(NVDA.US)的认证，这导致其HBM收入在第二季度可能维持停滞 状态。 智通财经APP获悉，三星电子(SSNLF.US)在提交给监管机构的文件中表示，该公司与一家全球大型公司 签署了价值22.8万亿韩元(约合165亿美元)的芯片制造协议。该公司没有透露客户名称。合同期2025年7 月24日-203 年12月31日。数据显示，22.8万亿韩元相当于三星电子2024年营收的7.6%。受此消息影响， 三星电子在韩国首尔上市的股票上涨3.5%，创近四周以来的最大单日涨幅。 三星电子本月早些时候公布的财报显示，第二季度销售额为74 万亿韩元，同比下降 0.09%、环比下降 6.49%。但营业利润仅4.6万亿韩元，同 ...

智通财经APP获悉，周四，高盛集团时隔三年多首次下调韩国芯片巨头SK海力士的评级，导致其股价出现下跌。这一调整源于高盛 分析师对行业竞争加剧的判断，随着其他厂商技术突破，SK海力士在关键产品领域的优势可能被削弱。 尽管人工智能主题近期重获市场青睐，推动英伟达成为全球首个市值突破4万亿美元的半导体企业，但投资者对产业链风险仍保持高 度敏感。 本周阿斯麦(ASML.US)控股公司对行业前景的谨慎表态，直接引发全球芯片股集体下挫，这也成为SK海力士股价承压的叠加因素。 高盛分析强调，尽管风险因素持续累积，SK海力士股价今年以来仍以57%的涨幅显著跑赢大盘，同期三星电子涨幅仅为23%。 首尔SK证券分析师Cho Junkee观察到市场情绪的微妙变化："长期以来，外资机构在半导体领域普遍采取'做多海力士、做空三星'的策 略，但近期这种倾向正在转变。三星正重新获得投资者青睐，部分资金开始调整持仓结构。" 无独有偶，由李俊义领衔的高盛分析师团队同日将三星电子评级从"买入"下调至"中性"，引发三星股价盘中最大跌幅达8.8%，创下4 月7日以来单日最大跌幅记录。 作为英伟达(NVDA.US)高带宽内存(HBM)芯片的主要供应商 ...

Core Insights - The rapid development of artificial intelligence (AI) technology is creating extensive opportunities in the market [1] Group 1: Company Developments - Apple's AI model executive Ruoming Pang is leaving for Meta Platforms Inc., which poses a setback for Apple's AI efforts [3][4] - Meta is aggressively hiring AI leaders, offering substantial compensation packages to attract talent [4] - Samsung Electronics reported a significant 56% year-over-year drop in operating profit to 4.6 trillion KRW (approximately 3.3 billion USD), attributed to inventory pressures and setbacks in AI chip development [9] Group 2: Market Trends - Citigroup raised Nvidia's target price to 190 USD per share, citing increased demand for AI infrastructure from sovereign nations, indicating potential for further expansion [5][6] - Nvidia's market capitalization is approaching 4 trillion USD, with a 12% increase in stock price over the past month [6] - Analysts predict that sovereign demand could contribute billions in revenue by 2025, with expectations for further growth by 2026 [8] Group 3: Product Launches and Supply Chain Insights - Tesla's AI startup xAI plans to launch Grok 4, a new AI model, which aims to compete with OpenAI's GPT-4o and Google's Gemini 2.5 Pro [11][12] - Wedbush analysts noted that demand for Nvidia's B200 chips exceeds supply, suggesting growth potential in the coming quarters [13] - The hard disk drive market is expected to benefit Western Digital and Seagate due to limited production capacity, allowing for price and margin increases [15]

Group 1 - The Ninety One Global Strategy Fund - Asian Equity Fund has increased its allocation to Samsung Electronics, reflecting a positive outlook on the company's potential despite its current underperformance compared to competitors like SK Hynix [1][2] - The fund has achieved a 15% return this year, outperforming 94% of its peers, as the South Korean KOSPI index has risen nearly 30%, making it one of the best-performing stock indices globally [1] - Fund manager Charlie Linton believes that many investors have mispriced Samsung due to its lag in the high bandwidth memory (HBM) chip market, but anticipates that the next generation of DRAM chips will help Samsung catch up [2] Group 2 - Samsung's stock has increased by 20% this year, while SK Hynix's stock has surged nearly 60%, indicating a significant performance gap [2] - Linton's team employs a model to screen stocks in the Asian region based on various factors such as quality, valuation, operational performance, and technical momentum, aiming to select stocks that can withstand market volatility [2] - The fund's positive stance on Samsung is partly due to its attractive valuation, as Linton notes that almost all investors are underweight on Samsung [2]

Core Viewpoint - Micron Technology (MU.US) reported third-quarter earnings and fourth-quarter guidance that exceeded market expectations, driven by record sales of DRAM chips and strong performance in high-bandwidth memory (HBM) [1][2] Financial Performance - Third-quarter revenue reached a historical high of $9.3 billion, a 37% year-over-year increase, surpassing analyst expectations of $8.9 billion [1] - Adjusted earnings per share (EPS) for the third quarter were $1.91, exceeding the forecast of $1.60 [1] - The company anticipates fourth-quarter revenue of approximately $10.7 billion, significantly above the analyst consensus of $9.89 billion, with an expected adjusted EPS of about $2.50, higher than the $2.03 forecast [1] Analyst Ratings and Price Targets - Morgan Stanley maintained a "hold" rating on Micron Technology, raising the target price from $98 to $135, citing a more than 20% increase in EPS expectations for the fourth quarter compared to market consensus [1] - Wells Fargo reiterated an "overweight" rating, increasing the target price from $150 to $170, highlighting the strong performance of HBM and the overall data center market [2] Market Outlook - Analysts expect continued improvement in performance driven by strong AI demand, despite concerns about demand pull-forward and price declines in the May quarter [2] - Micron's HBM business remains robust, with expectations for ongoing strong investment in this area [3] - The company plans to increase investments in next-generation thin-film deposition equipment in the NAND sector [3]

Market Overview - US stock index futures are all up, with Dow futures rising by 0.28%, S&P 500 futures up by 0.38%, and Nasdaq futures increasing by 0.47% [1] - European indices also show positive movement, with Germany's DAX and the UK's FTSE 100 both up by 0.38%, while France's CAC40 is up by 0.17% [2][3] - WTI crude oil prices increased by 0.35% to $65.15 per barrel, and Brent crude oil rose by 0.47% to $66.74 per barrel [3][4] Economic and Policy Insights - Reports indicate that former President Trump is considering early nominations for the next Federal Reserve Chair, expressing dissatisfaction with current Chair Powell's pace on interest rate cuts [4] - Analysts from JPMorgan warn that current trade policies could lead to stagflation in the US by 2025, with a 40% chance of recession in the second half of this year [7] - Apollo Global Management's chief economist predicts a critical turning point for the US economy, with GDP growth expected to slow to 1.2% and inflation potentially reaching 3% by year-end [9] Company-Specific Developments - Micron Technology reported a record Q4 revenue of $9.3 billion, a 37% year-over-year increase, driven by strong sales of DRAM chips [10] - Nvidia's CEO Huang Renxun forecasts that robotics, particularly humanoid robots, will become a significant growth driver for the company, alongside AI technologies [11] - Tesla's recent Robotaxi launch faced technical issues during public testing, raising concerns about the commercial viability of its autonomous driving technology [12] - Shell has stated it has no intention of acquiring BP, dispelling rumors of a merger between the two oil giants [13]