The Zhitong Finance App learned that chip stocks picked up collectively in early trading. As of press release, ASMPT (00522) rose 6.43% to HK$101.8; Shanghai Fudan (01385) rose 4.43% to HK$9.91; SMIC (00981) rose 3.77% to HK$14.88; and Huahong Semiconductor (01347) rose 2.94% to HK$14.7.

Tianfeng Securities pointed out that TSMC's 1Q24 results guide continued strong AI demand. It is expected that the semiconductor industry will recover moderately throughout the year, lowering the industry outlook, and being cautious about semiconductor demand in the automotive industry; Lenovo's release of new AIPC products, or driving a new rotation, the industry chain is worth paying attention to; it is optimistic about the storage sector's performance in the first quarter and optimistic about subsequent price trends.

Xiangcai Securities, on the other hand, said that downstream demand in the semiconductor industry continues to diverge, and the downstream industrial control, vehicle regulation and photovoltaic fields of the power semiconductor industry are still in the inventory removal stage. Continued optimization of AI models and commercialization of diversified AI application terminals will continue to increase global demand for computing power and drive the start of a new round of AI infrastructure construction. Recovery in the traditional consumer electronics sector is in sight. The removal of inventory by supply-side upstream companies has achieved remarkable results, and the moderate rebound on the demand side is expected to continue.