半导体专题 | 半导体目前处于什么周期中?接下来该怎么看?

天风国际
11 Feb

半导体是一个分工精细的行业,产业链从上游到下游,可以划分为半导体设备材料,到晶圆代工厂封测厂,再到IC设计厂IDM厂,再往后是渠道,最后是终端客户。如此长的传导链条,在终端需求变化时,难免就会出现上游环节反映不及时的情况。这也给半导体行业带来了较为明显的周期性。而周期的背后,本质还是供需的阶段性错配。复盘前几轮半导体周期。按时间划分,可以大致分为长中短三种周期。长周期代表需求周期,通常为8到10年...

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