Seizing the rebound! Global chip stocks surge violently, why are semiconductor equipment and materials rising the most?
I'm LongbridgeAI, I can summarize articles.The Philadelphia Semiconductor Index rebounded, with A-share semiconductor equipment and material stocks leading the gains. The core logic is that SK Hynix is expanding production, NVIDIA has raised its expectations, and Google has placed TPU orders with Intel, extending the visibility of equipment orders until 2028. UBS has raised its forecast for Chinese wafer fab equipment spending, with domestic equipment benefiting significantly. The China Merchants Semiconductor Equipment ETF covers leading companies such as AMEC, deeply binding to the expansion cycle of Changxin Storage, with strong earnings certainty
After the Philadelphia Semiconductor Index plummeted over 10% last Friday, U.S. chip stocks experienced a strong rebound on June 8, with the Philadelphia Semiconductor Index soaring 5.61%. Intel rose over 11%, Applied Materials increased over 8%, and ASML gained over 6%. Driven by overseas sentiment, on June 9, the A-share Semiconductor Equipment ETF from China Merchants (561980) surged over 3% at the opening, with Shanghai Silicon Industry rising 7%, and FuChuang Precision increasing over 9%. Several stocks, including Zhongwei Company, Northern Huachuang, and Changchuan Technology, also saw gains.
Semiconductor equipment and material stocks led the rebound, with the core logic being: SK Hynix doubling its production capacity over five years, Nvidia raising its expansion expectations, TSMC facing insufficient advanced packaging capacity, AI chip giants like Google and Nvidia considering Intel as a backup manufacturer, and WSTS revising the global semiconductor market size for 2026 to $1.51 trillion. These industry signals have extended the visibility of equipment orders to 2028.
On June 8, The Information reported that Google placed an order with Intel for over 3 million self-developed TPU chips, planning to produce them before 2028. The simultaneous expansion by several AI chip giants indicates a compounded demand for wafer manufacturing capacity, with the equipment side benefiting first as the "shovel sellers," making it a direction with strong order certainty, high performance visibility, and outstanding cross-cycle volatility resistance in the AI industry chain.
Additionally, UBS significantly raised its forecast for the growth rate of Chinese wafer fab equipment spending for 2027/2028, expecting the share of domestic equipment in Changxin's orders to rise to 40%-50%, bringing an annual revenue increase of $6-13 billion for domestic equipment from 2026 to 2028.
The Semiconductor Equipment ETF from China Merchants (561980) covers core equipment leaders such as Zhongwei Company, Northern Huachuang, and TuoJing Technology, as well as material leaders like Nanda Optoelectronics and China Shipbuilding Special Gas, and chip design/manufacturing leaders like Cambrian, Haiguang Information, and SMIC. The top ten holdings account for nearly 75%, with a cumulative increase of over 390% since 2020 and over 140% in the past year, ranking first among similar indices in the science and technology chip and semiconductor material equipment sectors.
It is worth emphasizing that the "Changxin Storage" component in the CSI Semiconductor Index tracked by this ETF accounts for about 53%, benefiting significantly from the storage expansion cycle. With ample funding for the expansion of Changxin and Changcun and the resonance of increasing domestic production rates, the equipment side may enter a medium to long-term prosperity channel