Hong Kong Stock Market Movement | Most semiconductor stocks are rising, global monthly semiconductor sales continue to grow year-on-year, AI may drive the semiconductor cycle upwards
Most semiconductor stocks are on the rise. As of the time of publication, Jingmen Semiconductor rose by 3.7% to HKD 0.28, Shanghai Fudan rose by 2.28% to HKD 9.87, and SMIC rose by 2.12% to HKD 14.48. On the news front, global semiconductor sales in February 2024 increased by 16.3% year-on-year, marking the fourth consecutive month of year-on-year growth but a 3.1% decrease month-on-month. Zhongyuan Securities believes that the semiconductor industry is currently at the bottom of a downward cycle, with monthly global semiconductor sales continuing to grow year-on-year, consumer demand gradually recovering, and the industry's valuation currently below the median value of the past decade. Tianfeng Securities, on the other hand, expects the semiconductor cycle to start recovering in 2024. They are optimistic about AI driving the semiconductor cycle upwards. In terms of incremental factors, attention is focused on the incremental impact of AI on hardware, including cloud computing power, terminal NPUs, and increased storage space. In terms of existing factors, attention is on the pull of replacement demand under the combination of AI hardware and AI applications (expecting a recovery in smartphone and PC markets in 2024, with AI accelerating growth), further driving the industry chain beyond expectations
According to the information from the Wise Finance app, most semiconductor stocks are on the rise. As of the time of publication, Jingmen Semiconductor (02878) rose by 3.7% to HKD 0.28; Shanghai Fudan (01385) rose by 2.28% to HKD 9.87; and SMIC (00981) rose by 2.12% to HKD 14.48.
On the news front, global semiconductor sales in February 2024 increased by 16.3% year-on-year, marking the fourth consecutive month of year-on-year growth but a 3.1% decrease month-on-month. Zhongyuan Securities believes that the semiconductor industry is currently at the bottom of a downward cycle, with monthly global semiconductor sales continuing to grow year-on-year. Consumer demand is gradually recovering, and the current valuation of the semiconductor industry is lower than the median value of the past decade.
TF Securities, on the other hand, expects the semiconductor cycle to start recovering in 2024. They are optimistic about AI driving the semiconductor cycle upwards. In terms of incremental factors, they are focusing on the incremental demand for hardware driven by AI, including cloud computing power, terminal NPUs, and increased storage space. In terms of existing factors, they are paying attention to the pull of replacement demand under the combination of AI hardware and AI applications (expecting a recovery in smartphone and PC markets in 2024, with AI accelerating growth), further driving the industry chain beyond expectations