不止AI在拉动!KeyBanc:模拟芯片供应商迎多重利好,需求现“实质性回暖”

智通财经
Apr 07

智通财经APP获悉,投资机构KeyBanc Capital Markets指出,以德州仪器(TXN.US)、亚德诺半导体(ADI.US)为代表的模拟芯片公司,其市场需求正出现“实质性改善”,背后驱动力并不仅限于人工智能。

具体来看,多个因素共同推动了这一趋势:一是由于供应趋紧,部分市场的交货周期有所延长;二是PC、智能手机等领域的客户为应对内存价格上涨而提前备货,导致前端需求饱满。

此外,台积电(TSM.US)正削减对落后制程产能的支持,以腾出资源增加晶圆上芯片基板(CoWoS)的供应。最后,在非AI领域的模拟芯片市场中,各类资源与AI领域之间的竞争日趋激烈,尤其在电源管理方面——英伟达(NVDA.US)GPU的每代功耗需求平均提升了40%。

KeyBanc分析师John Vinh在给客户的报告中写道:“这正推动半导体行业出现全面涨价,多家电源模拟芯片供应商(如安森美英飞凌、MPS、瑞萨、AOSL)已宣布提价,尤其在电源管理领域。”

由此,对整个模拟芯片板块的相关公司均构成利好,包括德州仪器、亚德诺、微芯科技(MCHP.US)、恩智浦(NXPI.US)和安森美(ON.US)等。

Vinh进一步表示,正面影响主要体现在两个方面:第一,随着交货周期延长及供应趋紧,渠道预订趋势正出现实质性改善;第二,由AI超预期需求驱动的供应紧张,正引发全行业涨价,尤其是在模拟电源芯片领域。

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