（来源：财闻）
高盛认为，客户资本开支上行叠加，国产替代率提升，使得中国半导体设备行业的长期可见度正在显著改善。
中国半导体设备存储与先进逻辑产能扩张驱动未来增长。基于长期可见度改善重置估值框架，高盛对中国半导体设备及半导体材料板块持建设性看法，覆盖北方华创（002371.SZ）、中微公司（688012.SH）、盛美上海（688082.SH）、安吉科技四家公司，全部维持买入评级，并统一将估值方法论从近期市盈率切换为2030年折线市盈率，以捕捉长期增长机会。
高盛强调，中国半导体设备的产能扩张并非单纯依赖政策补贴，而是由存储和先进逻辑两条主线驱动的结构性增长。存储端以长江存储和长期新存储为代表，先进逻辑端以中心、国际等代工厂为代表，两者的资本开支持续上行，直接拉动了上游设备需求。高盛认为，客户资本开支上行叠加，国产替代率提升，使得中国半导体设备行业的长期可见度正在显著改善。
责任编辑：张恒星
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