What TI, Lam Research and Tesla say about the demand?
我們重點整理三家科技大廠公布的1Q26獲利，2Q26指引及看法
三家重點科技大廠公布季度數字，市場對德州儀器反應最正面盤後創新高漲超10%，Lam Research 次之，Tesla 盤後小跌。就德儀而言，工業及數據中心用晶片大幅增長，2Q26營收及獲利指引明顯高於市場預期，公司談到下半年可能漲價，自己又有庫存可以賣不會缺，資本開支對營收比的大幅下降對公司，對產業鏈，競爭者都是相當正面的。
Lam Research
1Q26 Strengths in DRAM equipment, Korea/China customers: Driven by stronger than expected DRAM/HBM equipment sales of 30% qoq and 44% yoy (30% above consensus) and 15%/21% better from Korea/China customers, Lam Research reports 1Q26 sales of US$5.84bn, up 9% qoq and 24% yoy, 2% above Bloomberg consensus estimates, resulting lower 4.09 months of inventory, down 9% qoq and 26% yoy.
Source: Bloomberg Strong 2Q26 guidance across all prospects except China customers: Helped by broader sales strengths from AI logic and memory chips demand except weaker China customers’ orders, Lam Research guides 2Q26 sales of US$6.6bn (US$6.2-7.0), up 6-20% qoq and 28% yoy, 9% above Bloomberg consensus estimates. In addition, gross margin guidance of 49.5-51.5% is also above consensus estimates of 49.2%, resulting higher GAAP EPS of US$1.5-1.8 (vs. US$1.45 estimates).
