中信证券:建议关注HDD、DRAM、NAND赛道中公司的投资机会

智通财经
Oct 16
【中信证券:建议关注HDD、DRAM、NAND赛道中公司的投资机会】中信证券研报称,近期全球存储芯片股价波动加剧,10月份以来表现显著弱于其他板块,除了宏观因素的扰动外,产业界对于长鑫科技4F²技术的进展亦变得更为关注。主要原因是市场担心:中国本土晶圆厂在高毛利的服务器DDR5市场形成有效技术破局,海外巨头通过垄断产能维持超高议价权的叙事逻辑会被动摇。从产业进展来看,目前DRAM的技术仍以6F²单元结构为主,4F²技术的落地需看三星电子和长鑫科技的进展。目前来看,4F²技术仍处于早期验证阶段,后续仍需观察公司在这领域的良率、产量、毛利率、下游客户认证情况等各个指标,对于中短期存储产业的影响相对较小。建议关注HDD、DRAM、NAND赛道中公司的投资机会。

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