原文标题：
Morgan Stanley latest to downgrade ASML on China, memory, Intel concerns
原文连结：
https://tinyurl.com/mwf7jrbd
发布时间：
2024 09 20
记者署名：
Reuters
原文内容：
AMSTERDAM, Sept 20 (Reuters) - Morgan Stanley on Friday downgraded earnings estimates for computer chip equipment maker ASML (ASML.AS), opens new tab, the latest brokerage to do so following weakness in the memory chip market and concerns over demand from Chinese chipmakers and Intel (INTC.O), opens new tab.
MS followed UBS and Deutsche Bank in cutting estimates and reducing share price targets for ASML after the company's share price slid 30% in July and August.
"Investors may have to wrestle with weakness not just with DRAM (memory chip market) but also with Intel ... and the growing concern that China semiconductor capacity overspend will slow as we look to 2026," MS analysts wrote.
心得/评论：
小结
未来短期内内存供过于求
中国问题将影响ASML营收
如果Intel缩减资本支出，对设备商不利
短时间内剩下台积跟三星继续军备竞赛
成熟制程还有Canon和Nikon以及中国本土做为追兵