10月9日国产算力冲高回落，半导体四兄弟盘中纷纷涨超4%，尾盘有所回落。科创芯片ETF（589100）收涨2.98%，芯片ETF（512760）收涨2.96%，集成电 路ETF（159546）收涨2.78%，半导体设备ETF（159516）收涨2.62%。 资料来源：wind 美国制裁再起波澜 据美国众议院"中国问题特别委员会"周二（10月7日）发布的报告，由于美国、日本和荷兰出台的相关规定存在差异，一些设备制造商能够向部分中国企业 出售设备，包括荷兰的 ASML， 日本的东京电子公司（TEL）以及美国的应用材料公司（Applied Materials）、KLA和泛林集团（Lam Research）等推动了 中国的半导体制造，并通过对华销售获得了可观的回报。该委员会呼吁，美国及其盟友应扩大对华芯片制造设备的出口禁令，而不仅仅是对特定的中国芯片 企业实施针对性限制。 Sora2模型开启AI视频"GPT-3.5"时刻 当地时间9月30日，OpenAI发布Sora2。如果说2024年的初代Sora是AI视频的GPT-1时刻，那么新版的Sora2则来到了GPT-3.5。Sora 2 可以完成以前的视频生 成模型非常困 ...

| 代码 | 名称 | 涨跌幅 * | | --- | --- | --- | | 517400 | 黄金股票ETF | 9.47% | | 561330 | ANVETF | 8.58% | | 159881 | 有色60ETF | 8.44% | 资料来源：wind 黄金方面，美元信用走弱仍是长期支撑逻辑。当地时间9月17日，美国联邦储备委员会结束为期两天的 货币政策会议，宣布将联邦基金利率目标区间下调25个基点到4.00%至4.25%之间。从美国9月FOMC会 议纪要看，美联储官员在降息幅度问题上存在分歧。9月会议的投票结果为11比1。唯一反对的成员是由 美国总统特朗普任命、并在9月会议首日上午宣誓就职的新上任的美联储理事斯蒂芬·米兰（Stephen Miran），他主张降息0.5个百分点。而关于2025年是否会进一步降息，在参加会议的19位官员中，略多 于一半的人预计今年还将至少再降息两次，但有少数人预计2025年剩余时间内只会降息一次或不再降 息。 节后首个交易日迎开门红，沪指高开高走突破3900点整数大关，刷新2015年8月以来新高。沪深两市成 交额2.65万亿，较上一个交易日放量4718亿。截至 ...

要闻提示 NEWS REMIND 今日头条 HEADLINE NEWS 辱骂网友？荣耀高管多次发声惹争议，网友喊话CEO李健"管一管" 原华为终端首席相机总工程师罗巍，在加入荣耀之后频频引发争议。此前，他就曾因为内涵华为Pura80 的"一镜双目"设计华而不实、怒怼vivo影像技术涉嫌抄袭而受到关注。10月3日，他又因为荣耀Magic8 Pro拍摄的夜景照片受到差评而直接公开辱骂网友，被质疑言论不当，甚至有网友喊话荣耀CEO李健出面 管一管。针对此事，荣耀方面暂无说法。 10月6日晚间，罗巍在微博发文疑似回应此事，他表示："我在网上骂的是啥……不知道现在有些人咋回 事，都挣当啥……我觉得还挺有意思的，注意是挣，不是争 。"他还在评论区补充称，"挣的意思应该是 收钱了，不然为啥这么前仆后继，奋勇争先"。言外之意是自己遭遇了水军攻击。 1. 辱骂网友？荣耀高管多次发声惹争议，网友喊话CEO李健"管一管" 2. "被背刺""大冤种"！大疆部分产品直降上千元！网友炸锅，官方回应 3. "廉价版"特斯拉发布，网友：果然是丐中丐！市值一夜蒸发超4000亿 4. 离职or闭关？小米产品总监金凡隐藏微博，修改头像 5. 清华 ...

除了供应紧张外，投资者也关注主力资金是否正在向DRAM相关概念板块倾斜。作为半导体存储芯片的 重要组成部分，DRAM的市场表现与半导体行业的景气度密切相关。若股价突破重要的阻力位，可能吸 引更多资金的关注。但投资者仍需密切关注市场情绪的变化，以及宏观经济对行业的影响。 来源：市场资讯 （来源：美股情报站） 10月8日，美光科技的股价迎来了显著上涨，一度上涨超过5.84%。这一强劲表现瞬间成为市场焦点， 引发了投资者的广泛热议和关注。美光科技的股价异动是否意味着新的增长周期开启，引发了各方的期 待与猜测。 近期，全球DRAM市场的供应紧张成为市场讨论的热点。据消息显示，韩美两地的主要DRAM制造商已 经暂停对企业客户的报价，预计今年第四季度DRAM价格将上涨30%以上，部分产品的价格涨幅甚至可 能突破50%。市场调查预测，未来三个季度DDR4内存的供应缺口可能达到10-15%，这加剧了供应紧张 的局面。下游内存厂商如威刚、十铨已经同步暂停报价，威刚董事长陈立白指出，本季度将是内存市场 持续上涨与严重缺货的开始。 整体市场对DRAM行业的未来持乐观态度。虽然供需失衡可能提供企业业绩增长的机遇，但市场竞争和 技术创 ...

市场调查显示，未来三个季度DDR4内存供应缺口将达10-15%，后段封测产能瓶颈加剧了供应紧张。威 刚、十铨等下游内存厂商已同步暂停报价。威刚董事长陈立白认为，本季度将是内存市场持续上涨与严 重缺货的开端。 周三，美光科技(MU.US)涨逾4%，报193.67美元。消息面上，据报道，韩美主要DRAM制造商已暂停对 企业客户报价一周。分析指出，今年第四季度DRAM报价预计将上涨30%以上，部分规格产品涨幅可能 突破50%。 ...

智通财经APP获悉，周三，美光科技(MU.US)涨逾4%，报193.67美元。消息面上，据报道，韩美主要 DRAM制造商已暂停对企业客户报价一周。分析指出，今年第四季度DRAM报价预计将上涨30%以上， 部分规格产品涨幅可能突破50%。 市场调查显示，未来三个季度DDR4内存供应缺口将达10-15%，后段封测产能瓶颈加剧了供应紧张。威 刚、十铨等下游内存厂商已同步暂停报价。威刚董事长陈立白认为，本季度将是内存市场持续上涨与严 重缺货的开端。 ...

根据最新市场动态，2025 年第三季度存储芯片价格呈现全面上涨态势，不同品类涨幅差异显著，部分产品价格已接近历史高位。 内存（DRAM）方面，DDR4内存受厂商减产和需求刚性影响，价格涨幅最为突出。32GB DDR4 内存价格从年初的不足 300 元涨至 500 元以上，半年内涨 幅超 66%。HBM内存作为 AI 芯片的核心组件，价格涨幅最为惊人，HBM2e 价格从 2024 年第三季度的 25 美元 / GB 涨至 2025 年第二季度的 45 美元 / GB， 半年涨幅达 80%。HBM3e 价格更是突破 100 美元 / GB，成为存储市场的 "价格标杆"。 存储卡（NAND）方面，消费级 SSD 硬盘价格在一个半月内上涨40%，例如 350 元的 1TB 硬盘涨至 550 元。企业级高容量 SSD硬盘（如 8TB 以上）因数据 中心需求激增，价格涨幅超过50%，例如采用 3D NAND 堆叠技术的产品需求旺盛，16TB SSD 价格从年初的 2500 元涨至 3800 元，涨幅 52%。 二、存储芯片国产替代的"双子星" 一、为什么近期存储芯片的涨幅这么大？ 供需失衡是涨价的核心！最近1年，AI 服 ...

Investment Rating - The report maintains a recommendation for metals silicon, PBAT, and valine, indicating a positive outlook for these materials in the chemical industry [1]. Core Insights - The new materials sector outperformed the broader market and the basic chemical sector, with a weekly change of 1.37% for the new materials index compared to 1.17% for the basic chemical index and 1.09% for the CSI 300 index [8]. - Price increases were noted for metals silicon (+3.16%), PBAT (+0.51%), and valine (+0.35%), while significant declines were observed in electronic-grade hydrogen peroxide (-3.86%), 6F (-1.01%), and epoxy resin (-0.88%) [8][21]. - The report highlights the importance of the new materials sector, particularly in semiconductor materials, which showed significant gains [8][25]. Industry Updates - The Ministry of Industry and Information Technology held a meeting with photovoltaic companies to address low-price competition and promote the exit of outdated production capacity, aiming for sustainable development in the solar industry [9]. - The easing of trade tensions between China and the U.S. has led to a recovery in trade inquiries and shipping prices, positively impacting chemical prices [10]. - The report emphasizes the potential for growth in the new materials sector, particularly in areas that require domestic production capabilities and have been historically reliant on imports [11]. Trading Data - The Huachuang Chemical Industry Index stood at 73.06, reflecting a decrease of 0.22% week-on-week and a year-on-year decline of 25.03% [17]. - The industry inventory percentile is at 91.12%, indicating a high level of stock relative to the past five years [17].

Core Viewpoint - The article discusses the unusual price dynamics in the semiconductor memory market, particularly the DDR4 memory, which has seen a price increase contrary to expectations due to supply constraints driven by a shift in production focus towards high-bandwidth memory (HBM) for AI applications [2][3][5]. Group 1: Market Dynamics - DDR4 memory prices have unexpectedly risen, surpassing those of the newer DDR5, due to supply shortages caused by manufacturers prioritizing HBM production [3][4]. - Major manufacturers like Samsung and SK Hynix are transitioning their production focus, leading to a reduction in DDR4 supply while demand remains stable in certain sectors [4][5]. - The supply-demand mismatch has resulted in a "price inversion" where older technology (DDR4) is priced higher than its successor (DDR5) [3][4]. Group 2: Supply Chain Impact - The shift in production strategy has created a ripple effect throughout the supply chain, affecting downstream manufacturers and leading to panic buying of DDR4 components [6][18]. - The announcement of DDR4's end-of-life (EOL) by major manufacturers has prompted downstream clients to stockpile DDR4, exacerbating supply shortages [15][17]. - The market is experiencing a chaotic environment where prices are volatile, and customers are hesitant to purchase at inflated prices, leading to a potential shift towards DDR5 [8][22]. Group 3: Strategic Shifts - The focus on HBM is driven by its higher profit margins, with companies like Micron and SK Hynix reporting significant revenue growth attributed to HBM sales [26][27]. - The production of HBM requires more complex manufacturing processes and resources, leading to a strategic decision to reduce DDR4 output [28][29]. - The exit of major international players from certain lower-tier markets presents opportunities for domestic manufacturers to fill the void left by these companies [31][32]. Group 4: Future Outlook - The ongoing transition towards HBM and DDR5 is expected to reshape the memory market, with potential long-term implications for pricing and availability of older memory technologies [30][32]. - Domestic manufacturers are positioned to capitalize on the market changes, but they face challenges in technology and supply chain capabilities compared to international giants [32].

Core Insights - DDR4 memory prices have doubled in the past two months due to supply shortages, with 8GB DDR4-3200 chips now exceeding $5, up from $1.75 earlier this year [1] - Smaller manufacturers are starting to ramp up DDR4 production in response to rising prices, while larger manufacturers like Micron are unlikely to follow suit as they focus on DDR5 and HBM production [1] - The overall DDR4 memory market is expected to stabilize once smaller manufacturers resume production, but a return to previous price levels may take time [2] Group 1 - Major DRAM manufacturers, including Micron, Samsung, and SK Hynix, have announced plans to cease DDR4 production by the end of 2025, contributing to the price surge [1] - Nanya Technology, a Taiwanese memory manufacturer, is benefiting from the price increase due to its extensive DDR4 product lineup and limited DDR5 offerings [1] - The demand for HBM chips driven by the growth of artificial intelligence is causing major manufacturers to shift their production focus away from DDR4 [2] Group 2 - The DDR5 standard was officially introduced by JEDEC in 2020, and while Intel's latest CPUs support both DDR4 and DDR5, AMD's Zen 4 and later processors only support DDR5 [2] - Despite the transition to newer technologies, the widespread use of DDR4 in existing systems means that the technology will not disappear immediately [2]