---
title: "中信证券：232 半导体关税的加征对国内半导体企业影响极其有限"
description: "中信证券研报指出，232 半导体关税的加征对国内半导体企业影响有限，因其对美敞口小，反而强调了本土化生产的必要性。同时，特朗普承诺在美制造的公司将获得豁免，可能对苹果产业链和海外算力链产生积极市场情绪修复。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/252333674.md"
published_at: "2025-08-09T11:34:11.000Z"
---

# 中信证券：232 半导体关税的加征对国内半导体企业影响极其有限

> 中信证券研报指出，232 半导体关税的加征对国内半导体企业影响有限，因其对美敞口小，反而强调了本土化生产的必要性。同时，特朗普承诺在美制造的公司将获得豁免，可能对苹果产业链和海外算力链产生积极市场情绪修复。

中信证券研报认为，232 半导体关税的加征对国内半导体企业而言影响极其有限（对美敞口小），反而强化了本土化生产的必要性。对于苹果产业链和海外算力链，由于特朗普表示承诺在美制造的公司将获得豁免，而苹果、英伟达等前期都已作出投资承诺，若相关企业获得豁免，或带来一定的市场情绪修复。

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> **免责声明**：本文内容仅供参考，不构成任何投资建议。