智通财经APP获悉，港股今三大指数今日走势不一，恒指早盘探底回升，国指及恒科指午后均震荡转 跌。截止收盘，恒生指数涨0.19%或47.99点，报24906.81点，全日成交额为2009.02亿港元；恒生国企指 数跌0.08%，报8888.08点；恒生科技指数跌0.01%，报5460.02点。 东吴证券表示，对港股持谨慎乐观态度，认为港股还处在震荡向上趋势中，下行有底。继续关注潜在增 配资金风偏。该行认为，南向资金还有提高仓位潜力；市场持续关注红利，自下而上寻找景气行业；尽 管市场明显提高了美联储降息的预期，促进股票市场反弹，但不能忽视对等关税或有风险；中长期看， 依旧担心海外上行风险。 蓝筹股表现 招银国际研报指出，美国总统特朗普宣布计划对半导体进口征收100%关税，但承诺在美进行大规模投 资的企业将可获得豁免。特朗普表示，由于苹果公司承诺未来四年将在美投资增加至6,000亿美元，其 产品将获得关税豁免。虽然官方细节尚未公布，但该行认为此豁免政策将对智能手机及AI伺服器供应 链领域产生积极影响。整体而言，该行认为苹果/三星/AI伺服器销售占比较高的企业将受益，如瑞声科 技、比亚迪电子、立讯精密、鸿腾精密及蓝思 ...

Core Viewpoint - FII, a subsidiary of Hon Hai Group, anticipates a significant increase in net profit for the second quarter and the first half of 2025, driven by strong demand for AI servers and a surge in shipments [1][2] Group 1: Financial Performance - FII projects a net profit of RMB 119.58 billion to RMB 121.58 billion (approximately NT$ 487.64 billion to NT$ 495.80 billion) for the first half of 2025, representing a year-on-year increase of 36.84% to 39.12% [1] - The estimated net profit for the second quarter is expected to reach RMB 67.27 billion to RMB 69.27 billion (approximately NT$ 274.32 billion to NT$ 282.48 billion), marking a year-on-year growth of 47.72% to 52.11% [1] Group 2: Business Drivers - The substantial growth in performance is primarily attributed to the explosion of AI-related business, with cloud computing revenue increasing by over 50% year-on-year in the second quarter [2] - AI server revenue has surged by over 60% year-on-year, while revenue from cloud service provider (CSP) servers has more than doubled [2] - FII maintains a leading market share in core products among major clients, with significant growth in shipments of advanced AI computing GPU modules and GPU computing boards [2] Group 3: Strategic Focus - The company is focusing on the integration of smart manufacturing and AI, increasing investment in core product R&D to drive steady growth in its communications and mobile network equipment business [2]

Core Viewpoint - TSMC's Q1 revenue increased by 42% year-on-year, reaching approximately NT$285.96 billion, with cumulative revenue for the quarter at NT$839.25 billion (about $25.53 billion), aligning with market expectations despite concerns over potential impacts from new U.S. tariffs [1][2]. Group 1: Revenue Performance - TSMC's Q1 revenue of NT$285.96 billion and cumulative revenue of NT$839.25 billion fell within the company's forecast range of $25 billion to $25.8 billion [1]. - Analysts had initially expected a slight dip in revenue due to the January earthquake, but the actual results exceeded these expectations [1]. Group 2: Market Concerns - Investors are particularly focused on the potential weakening of global chip demand following the implementation of new U.S. tariffs on April 9 [1]. - There is anticipation regarding TSMC's upcoming investor conference on April 17, where the company may revise its annual revenue and capital expenditure targets [1]. Group 3: Competitive Position and Risks - Bloomberg analysts believe TSMC maintains a leading position in advanced process technologies, particularly in 2nm and 3nm nodes, which should mitigate the impact of U.S. tariffs [2]. - However, TSMC faces short-term profit risks due to rising operational costs from rapid overseas capacity expansion, particularly in the U.S., and low utilization rates in mature process technologies [2]. Group 4: Customer Impact - TSMC's major customer, NVIDIA, may have 40% to 60% of its U.S. system products eligible for tariff exemptions, potentially reducing the impact of tariffs [3]. - Despite some products being assembled in the U.S., approximately half of NVIDIA's components are still produced in Asia, particularly Taiwan, which may continue to face tariff risks [3].

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自moneyDJ ，谢谢。 美国总统川普关税大刀向全球挥舞，其中，台湾将面临高达32%税率，而半导体等关键产业暂时排 除在外，外界也期盼政府协商之后，台厂能否真的逃过一劫。业界人士认为，后续川普政府势必会 有更多动作，以促使企业到美国投资为首要目的，全球产业链料将重新洗牌，进入新一波「汰弱留 强」生存竞赛。 川普于台湾清明连假期间抛出震撼弹，宣布要对全球征收一致性的10%关税，且对个别国家或地区 实施不同税率，中国台湾被课征32%税率、排名第七高，而包括半导体、铝、铜、钢铁、药物等则 暂列豁免项目。但才隔了一天，川普又表示，「很快」对芯片和药品课征关税，仍埋下伏笔。 业界人士表示，虽然本波关税暂时排除半导体，但全球电子供应链紧密且复杂，芯片会运往中国大 陆、越南、印度等亚洲地区进行加工组装，这些国家也是本次关税大刀的主要攻击对象。简言之， 半导体当然无法置身事外，下游成本垫高最终仍会反噬到上游，半导体厂商未来有可能面临降价压 力，而终端产品涨价隐忧下，也会冲击民间消费力。 Jim Keller：RISC-V一定会胜出 对此，熟悉半导体人士则认为，从过去出口 ...