金吾财讯 | 据统计，截至周一，三星电子、SK 海力士股价自 500 日低点累计攀升 798%，涨幅突破互联网泡沫时期 717% 的历史峰值，本轮上涨行情自 5 月下旬启动；年内两只个股分别大涨 200%、262.5%，AI 驱动的行业基本面成为行情核心支撑。
杰富瑞研报指出，盈利改善与散户资金进场持续托底板块估值，标的仍存上行空间，但行情难以单边稳步走高，后续波动将常态化，3 月市场震荡已是先行信号。机构提示，震荡环境下短线波段操作回报率大概率不及长线持仓，同时列出经济下行、利率持续抬升、AI 企业融资受阻三类泡沫见顶预警指标，当前尚未观测到相关兑现迹象。
巴克莱同日上调两家企业目标价，锚定存储全产业链供给紧缺现状。该行提及，行业长期供货协议 LTA 落地持续抬升板块估值中枢，叠加明年 HBM 原料涨价，机构预判存储产品均价有望稳固至 2027 年末，传统 DRAM 价格变化也将成为后续行业跟踪重点。
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