玉山晨訊：台股晨訊

ѯ ޷ఒ ଊ |ݚዻ༗ϸ޷ѯ α໋ϥҦܼീ೾ᇅजӏ޷ቌ२ਚܵತໍາљίໂȂΚࠊ៊۾޷ѯСӲᔭٗ༗Ȃґ૗ԉ՟5СְጤȂӶዻϜቒ੩ᎫᕞႇࡤȂಥൠίໂ606.52ᘉȂໂൾ1.33%Վ45,070.94ᘉȄѯ޷Κ࡚ѷԉ10СְጤȂᗷดഷಥӶຶዻໍൠίѷՅඉூȂկҭࠊҀൠ዆ᢏ௒ᆲϑစτൾ੒ଞȂђαα໋ϥя౫ւޫτൾፑᔟज୾ऌ޷׭ȂႲ෉ϭС໡ዻ՘௒Ѡ૗я౫τൾঔҔȂ౫໧ࢳᐈձпӒ७մᄺఝЩپ࣐лȂ๊ӲขႇࡤጃᇰЦᛨԉ՟Уጤӕ՘ϸ״ໍൠܜ௦Ȅ |ݚϸ޷ঐ -- |२्ུݚᆹϸ „WWDCࣻ߬ࠣ༉ུݏΠȊឃٿѯᑗႬڨඐ(စᔽA3)„හ٥5УᕋԞУቩ4% ഀУ഻ାڎ(2345)(စᔽB1)„㚔߭е޷(5274)ᕋԞ ഀΝУ഻ା࢏ЇAIࠑሰؒ஽࡛ஆ(စᔽA3)„σࠊཽݎ޷τҴӏCPOᅗܝঅࡠ෉τҴӏ(3008) (Ϗ୧B1)„๽٥ႬഀϳУี৬(စᔽB3)„ܽሰؒ᛿๽᛿5УᕋԞᙛॼ(Ϗ୧B4) |ݚᖃစϸ „೼Ԫ२ਚAIݲݿખບȂᗚାզঅޠӬ౪ঔҔȉ„ ࣐եΚӌᓻܼႲ෉ޠ൸ཿൣ֚ȂཽԚ࣐ᔇ࠴љᏳᡞޠ޷௱КϟΚȉ„ᄈԫȂשউᇰ࣐൸ཿ௒༗ၷ঩Ⴒ෉ԂȂկϬϛ٘пᡲᖓྦཽЁਁ„AIၦҐМя೤ዂԥӼτȉӍཿስᏳᄈܼAI౱ཿஆҐ८ޠࣽݳ |୾ር޷Ҁၦଊ „ӓ౩޷ҀІ୧ࠣቌੀၦଊ„୾ር޷Ҁл्ঐ޷ቌੀၦଊ ݚᙐ޷ዻ༗Іฑᘉ޷ѯ „α໋ϥज޷ѳτࡿ኶ӓ኶ίໂȂၿᛞࡿ኶ίໂ1.35%Ȃໍາљ२ਚ10.26%ȂѯᑗႬADRτໂ6.69%Ȅ„α໋ϥҦܼീ೾ᇅजӏ޷ቌ२ਚܵತໍາљίໂȂѯ۾޷៊ࠊΚСӲᔭٗ༗Ȃґ૗ԉ՟5СְጤȂӶዻϜቒ੩ ࡤᎫᕞႇȂಥൠίໂ606.52ᘉȂໂൾ1.33%Վ45,070.94ᘉȂԚһߝ᚟࣐13,198.22ቈϰȄαҀѵၦ፳ົ826.31ቈϰȂ׺߭ຶົ10.20ቈϰȂՍᕋ୧፳ົ284.31ቈϰȂήτݳ΢Ӭॏ፳ົ1,094.42ቈϰȄαҀᒋၦ෶Ў59.86ቈϰȂᒋၦᎸ᚟࣐5,666.49ቈϰȄ „ዻ८ఋထР८ȂႬφίໂ1.52%ȃߝᒋαᅜ0.79%ႬίໂߝߩІ1.30%ȄөఋထϜп኶՞໵ᆓߓ౫ഷٺαᅜົႇ6%пαȇߓ౫৶༗ޠఋထєࢃႬᏣႬᢠȃ༮ጳȃႬᐡȃݷႬᐾ੊๊ίໂົႇ3.5%Ȅ ܿ෉ೳһၦଊ „ήτݳ΢ѯࡿ෉ഌ՞ᡑϾȂՍᕋ୧Ӽ൑ቩђ1,588πȂґ҂ঙӼ൑ژٿ4,807πȇ׺߭Ӽ൑ቩђ302πȂґژٿ҂ঙӼ൑52,160πȇѵၦޫ൑෶Ў330ژٿ൑ޫπȂґ҂ঙ69,146πȂήτݳ΢ޫ൑෶Ў2,220πȂژٿ൑ޫґ҂ঙ12,179πȄ / „WWDC(A3) 9Apple IntelligenceSirimacOS 27M5 UltraMac StudioM5 UltraN3PSoIC-mH WWDCM5 UltraAIAI4/53EPS 97.362,525(7PBR*2027BVPS(F)) „54%(2345)(B1) (2345) 55286.23 54.6%286.2367%800G2Q2616%813.4EPS18.552026(1)AWS20267Trainium 31H26CSP(2)L6L11AI2023L11(Rack)1Q262Q263Q26(3)224G/lane224G/448G SerDes(WSS)(OWS)Scale-Across2026/202746%/30%3,626/4,722EPS83.61/116.663,600 „(5274)AI(A3) 512.820.3%68.7%57.0861.73% 2Q2634~3638.2QoQ+28.8%3Q2641~422026AIAST2600BMCAST27002026AST2600Inte Oak StreamAMD VeniceServerVera RubinAST2700AST27002028BMC20262027EPS184.52262.6 „CPO(3008) (B1) CPOCollimatorICMeta-LensCPOPICFAU1~22~3CPO2026EPS189.51195.89forward PE11-17CPO2PE14-15173,300 „(B3) 234455200.012003.9%181.9%774.99128.58% 5200.013.9%181.9%DDR4/LPDDR4EOLDDR4LPDDR42028Flash2D NANDSLC NAND2026NOR FlashAIEdge AI2026/2027EPS 20.89/29.85 „5(B4) 6446Ropeg524.619.1108.5RopegET Ropeg24.622MoM+19%PVETET202664.8%257.7EPS 28.03 ᖃᡞစᔽ኶ᐄϸݚ_ዊजҀൠ „೼Ԫ२ਚAIખບȂᗚݲݿାզঅޠӬ౪ঔҔȉ೼ԪίໂȶႲ෉ဤৰЖึޠզঅ२ۢቌȷߩȂՅAI౱ཿஆҐ८஬ᚾȄ2026Ԓ6У5СȂໍາ࠳љᏳᡞࡿ኶൑С२ਚ10.26%ȂᏳЭጤീ೾ଓൣᗷᛵяᛨୋԚߞȂࠔґໍΚؐαঔAIཿଡ଼ߞ෉ҭዀȂᇅҀൠ྄ା෉םࡠԚဤৰȂЖึAIࣻᜱٽᔗᜧഀᚈܨ୶ȄดՅ௄ஆҐ८ࣽȂCSPȞ໵ᆓ݉ଡ଼ٽᔗ୧ȟཿ޲ၦҐМяࡼ៊ᘘ஼ȃᎄႁٽᔗ໕ॼቩȃAMDࡈҁԼቈजϰӶѯ׺ၦȂְᡘұAIሰؒٯґ੒ѷȂܛп೼Ԫ჌AIߞ෉Ӽᓟ՘௒Ϝޠቒ੩ᎫᕞȂՅߩᗎ༗ЇᙾȄ „ ࣐եΚӌᓻܼႲ෉ޠ൸ཿൣ֚ȂཽԚ࣐ᔇ࠴љᏳᡞޠ޷௱КϟΚȉ5У൸ཿൣ֚ᡘұߩၼ൸ཿ΢πቩђ17.2࿳΢ȂйڎࠊУ኶ᐄӬॏαঔ9.3࿳΢Ȃѷཿ౦ᛨۢӶ4.3%Ȅ஽ޠࠑ൸ཿ኶ᐄМࡼज୾စᔽᛨୋԚߞȂ೼хߓᖓྦཽ฼෉ϲءԥτൾ७ਁޠय़ϹܓȂࣦՎҀൠӕ࡚я౫Ёਁޠଇ፤Ȅڨԫኈ៫Ȃज୾10Ԓ෉ϵ༇෦ւ౦ᛈЁՎ4.53%Ȃ௱ЁҀൠၦߝԚҐȄҦܼAIᇅљᏳᡞ᜹޷඾ႈٵԥାҐઊЩȂڐզঅାٸ࡚ᒧґٿᕖւ׸౫Ȃӱԫᄈܼւ౦ᡑ୞྄࣐ఄདȄ࿌෦ւ౦ٗЁȂҀൠཽίঔᄈାԚ޷ߞಊޠຠቌȂᏳयࣻᜱঐ޷८ᖞզঅ२ۢȄݏ๗ޠஆҐ८ඍϾߩٯп೼ܛᔇΩȂޠቌ „ᄈԫȂשউᇰ࣐൸ཿ௒༗ၷ঩Ⴒ෉ԂȂկϬϛ٘пᡲᖓྦཽЁਁȈשউႲ෉ᆱࡼՎԒۼւ౦ϛᡑޠᐡ౦ЩၷାȄлӱӶٯܼϛؑ՘ཿ൸ཿഎቩђȂй݉ଡ଼ཿ൸ཿ༊ቩђ9.2অְޠঐУڎႇџܼ࿳΢Ȃմ16.5࿳΢ȄѫѵȂ҂ְؑϊਣᖡၦ࣐3.4%ޠ෉ࠊܼȂմ3.6%Ȃ࣐ߗԒٿմᘉȄ „AIၦҐМя೤ዂԥӼτȉӍཿስᏳᄈܼAI౱ཿஆҐ८ޠࣽȈݳඈീႲզӓ౩AIၦҐМяژ2027Ԓ஡ऐખ1ӑजϰȂ2026αࣽࠍԒ8,000ʂ9,000ቈजϰȄ౱ཿࣩስೠᄈஆҐ८྄߭ڏЗȄᎄႁஉ՘ߞ༂ϧᏛӶᚕѯࠊϬ݃ጃ஽።ȂϵѨίљԒٽᔗ໕ණЁՎ঩ӒڎॼȂٯႲ෉2027Ԓ౱ཿ೤ዂ஡ໍΚؐᘘτȄ೼ఽྀᇴ݃AIஆᙄ࡛೪ޠሰؒٸดΫϸ஽ࠑȂ౱ཿϜߞ෉Ԛߞ୞૗ٯґ׾ᡑȄܛп೼ϛAI౱ཿޠ஬ዜȂϛAI੒ޠሰؒѷȂηϛӓ౩љᏳᡞෂ੊ໍΤ૿ଞȇՅզঅႇାޠࡤӬ౪ঔҔȄ ၦਠٿྜȈඈീȃҞύ׺៬(2026/06/08) αҀᘤࠊΫτ᠍অ޷ᅜໂൾ ӓ౩޷ҀІ୧ࠣቌੀၦଊ኶ࡿዊज Ҟύᜍڕ׺ၦ៬ୱ޷ӌԥ४ϵѨȞпίᙐᆏȶҞύ׺៬ȷȟ࣐ҞύߝᒋٲཿထϟԚসȄ ःفൣ֚ѠՍҐϵѨᆪય( www.esunconsulting.com.tw )ᎨȄڦ ෉ೳһڏܿറା࡚ଓଡ଼ᄺఝਞݏȂॴᓏࣻၷ޷ܼಊҼၷାȂһܿ΢໹ڏറЩၷାޠॴᓏڨܜโ࡚Ȅ ݃΢সᖑفः ᢏᘉȄܗឋ࡛ޠ֚ൣفҐःܼՍٿঐ΢ൣႎڐณӉե݃΢সᖑفः ݃ռೱᖑ Ҟύ׺៬ϑଭᄈൣ֚ϲৡΩؒҔጃȂٯ࣐ःف΢স൸ڐ஠ཿ૗Ωණٽϟ๢ཏϸݚȂଓଡ଼ႲզІ׺ၦຠ๊߾൸ൣ֚ึ՘࿌ਣȂܛԞ໲ϟၦଊໍ՘Ӭ౪ϟցᘟȂСࡤसԥၦଊུȂҞύ׺៬஡ϛଭᄈԫൣ֚яڏུ೾ޤȄҐൣ֚༊ٽ׺ၦ΢୥ՄȂҞύ׺៬ϛ॓Ӊե׺ၦࣵᖬϟࡢݳೱӉȂԄЖңҐНȂ໹စҐϵѨӤཏȄ හኌଓ౱᠍݃ᖑ Ґၦਠө໷ϲৡϟө໷᠍ւІහኌଓ౱᠍Ȟєࢃկϛ४ܼ຀ձ᠍ȃ஠ւ᠍ȃ୧ዀ᠍๊ȟְ឵Ҟύ׺៬ܛԥȄଷߩᕖூҞύ׺៬ࠊٲਫ८ӤཏѵȂְϛூ᏿ՍпӉեםԓፓᇨȃ२ᇨȃঔ׾ȃึ՘ȃα༉ȃ஼ຯȃ༉ଛȃයոȃϵ໡༉ክȃ೰୶ڐܗуٻݳߩңҐၦਠȄଷߩԥ݃ጃߓұȂҐၦਠϟණٯٽณ݃ұܗཱུұ௳᠍ີРӉե຀ձ᠍ȃ஠ւ᠍ȃ୧ዀ᠍ȃ୧ཿᐡஞܗӉեڐуහኌଓ౱᠍Ȅ