TechInsights stated that last week, orders for storage and advanced packaging remained strong as expected. However, due to weak growth in demand for consumer electronics, the consumer segment market performance was poor.

In TechInsights' data update for September, due to the continued digestion of inventory of consumer electronics, the OEM IC inventory level in Q2 2024 was higher than expected.

Affected by weak demand in the automotive and industrial sectors, non-memory IC inventory was slightly higher than expected.

However, due to high demand for AI data centers, storage IC inventory decreased by 4% in the second quarter, compared to the expected 2% decrease.

Market differentiation has intensified. Due to the higher ASP (average selling price), the demand for AI-related semiconductors is expected to drive IC sales to surge by 30% in 2024.

Industry insiders believe that the current global semiconductor demand has bottomed out and is rebounding, with the industry turning the corner. With the continuous policy support domestically, the semiconductor industry is gradually entering an upward range.

Galaxy Securities pointed out that the semiconductor industry sector has experienced continuous adjustments, with multiple signs indicating an upward cycle in the semiconductor industry. It is recommended to focus on the semiconductor materials, equipment, and testing sector.

Huafu Securities believes that domestic semiconductor equipment and component manufacturers are expected to continue benefiting from the expansion of the semiconductor market size and the deepening of domestic substitution process, due to their own product competitiveness and category expansion capabilities. The growth speed and space may be very significant, and it is recommended to focus on semiconductor equipment and components. Investors can use semiconductor ETF for diversified investment.

With the steady recovery of the macro economy and continuous policy support, the semiconductor industry is experiencing a significant performance turnaround after a period of low performance in the industry cycle.

The outstanding performance in the first half of the year not only strengthens investor confidence but also shows strong growth momentum as the restocking cycle ends. The industry is expected to achieve sustained performance improvement in the future.

Guosen Securities stated that global and Chinese semiconductor sales have both achieved year-on-year positive growth for nine consecutive months, with double-digit year-on-year growth rates maintained since the beginning of this year. In July, global semiconductor sales reached a historic high.

Semiconductors are still in a phase of high prosperity, with related companies transitioning from revenue improvement to profit improvement gradually. Looking ahead, with the dual support of national policies and domestic upgrades, the semiconductor industry is expected to continue its good growth momentum, making semiconductor ETF investment opportunities worth considering.

Chip and related industry chain-related companies:

Semiconductor Manufacturing International Corporation (00981), Hua Hong Semiconductor (01347), Times Electric (03898), ASMPT (00522), Shanghai Fudan (01385), etc.