Likes ReceivedSemiconductor Morning Brief | US Chip Stocks Surge Collectively
On May 8, 2026, as of the market close, the Shanghai Composite Index fell 0.00%, closing at 4,179.95 points; the Shenzhen Component Index fell 0.5%, closing at 15,563.80 points; the ChiNext Index fell 0.96%, closing at 3,796.13 points. The STAR Semiconductor ETF (588170) fell 1.86%, and the Semiconductor Equipment ETF Huaxia (562590) fell 2.08%.
Overnight foreign markets: As of the close, the Dow Jones Industrial Average rose 0.02%; the Nasdaq Composite Index rose 1.71%; the S&P 500 Index rose 0.84%. The Philadelphia Semiconductor Index rose 5.51%, NXP Semiconductors rose 1.56%, Micron Technology rose 15.49%, ARM fell 0.02%, Applied Materials rose 6.04%, and Microchip Technology fell 2.45%.
Industry news:
1. U.S. memory stock gains expanded, with Micron Technology rising over 15% to $743.79 per share, hitting a new all-time high. The rapid development of artificial intelligence has led to explosive growth in demand for high-bandwidth memory (HBM) chips, driving the industry into a new super cycle.
2. Global tech giants are competing to extend an "olive branch" to South Korea's major memory manufacturer SK Hynix, proposing investments to build new production facilities and fund the purchase of expensive production equipment, all to secure memory chip supplies in advance. This phenomenon is unprecedented in the global memory chip industry, highlighting the severity of the current global chip shortage. The influx of investment proposals from tech giants to SK Hynix is rare in the history of the memory chip industry. The industry has historically experienced extreme boom and bust cycles. This also makes chip manufacturers believe that the current industry upcycle is expected to last longer.
3. Dinglong Co., Ltd. announced on May 6 that its controlling subsidiary, Wuhan Dingze New Materials, recently made three major breakthroughs in the field of semiconductor CMP polishing fluid, achieving product breakthroughs and receiving customer orders in the areas of large silicon wafer fine polishing fluid, cerium oxide polishing fluid, and TSV polishing fluid for advanced packaging. The company stated that the combined domestic market size for these three areas exceeds 10 billion yuan, with the current localization rate being extremely low.
4. At an earnings call, major memory module manufacturer ADATA stated that the upward price trend for both DRAM and NAND memory chips in 2026 will not change. Among them, DRAM will lead the price increase in the first half of the year, followed by NAND in the second half. Especially with the simultaneous expansion of demand for AI servers, enterprise storage, and end-user AI devices, the company is more optimistic about NAND chip prices in the second half of the year, expecting a "very high probability of significant price increases." Supply gaps are also widening simultaneously, and "there is no doubt about continued shortages next year." ADATA emphasized that the company continues to aggressively increase inventory to fully meet strong memory demand. The company's first-quarter inventory was approximately NT$36.4 billion (about RMB 7.888 billion), further exceeding NT$40 billion (about RMB 8.668 billion) by the end of April.
CITIC Securities pointed out that 2026 is expected to be the first year of mass production for domestic super nodes, marking the official transition of domestic computing power competition from "single-card competition" to "system-level competition." From 2025 to Q1 2026, the performance of domestic cards has successively exploded, with companies like Cambricon, Moore Thread, Tianshu Zhixin, and Biren Technology achieving quarter-on-quarter high growth in revenue and profit. Restricted imports of overseas cards, exploding demand for domestic cards, and performance realization benefit the domestic computing power industry chain. It is expected that domestic server solutions, storage, semiconductor equipment/materials, and other supporting hardware will also see explosive growth.
Relevant ETFs: STAR Semiconductor ETF Huaxia (588170) and its feeder funds (Class A: 024417; Class C: 024418): The underlying index is the only semiconductor equipment theme index on the STAR Market, with the highest advanced packaging content in the entire market (about 50%), focusing on hardcore equipment companies at the forefront of technological innovation.
Semiconductor Equipment ETF Huaxia (562590) and its feeder funds (Class A: 020356; Class C: 020357) track the CSI Semiconductor Materials and Equipment Theme Index, which has the highest semiconductor equipment content among all market indices (about 63%), directly benefiting from the global chip price surge and the certain demand for "shovel sellers" (equipment suppliers).
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