台股晨讯

ѯ ޷ఒ ଊ |ݚዻ༗ϸ޷ѯ ໋Ρѯ޷ҦࠊܼΚСѵၦ༊ϊൾ፳ົйᒋၦࡼ៊τ෶ޠ௒ݸί໡ାȂӶӼᔭ᠍ অ޷ᅜ୅ழ୞ίȂࡿ኶२ུ Ԟඉ۠ ጤІ44,000ᘉȂಥൠαᅜ1,783.17ᘉȂᅜൾ4.20%Վ44,232.87ᘉȄҦܼѵၦ፳ົࡼ៊෶ЎȂђαᒋၦഀ2Сτ෶ႇࡤᒋၦ෶ൾഃᅛ௦ࡿߗ኶ঔҔൾ࡚Ȃӱԫ֊ٻ໕ᕼϬ૗τᅜົႇ4%ȂดՅҭࠊУጤࡼ៊ί᠊ȂαРᗚԥ10СְጤЇᔇȂӱԫґ२ུયӲУጤࠊ༊૗пЇኇຝϟȄ |ݚϸ޷ঐ -- |२्ུݚᆹϸ „༉ѯᑗႬ݃ԒെᅜഷӼ።ାΚԚ(Ϗ୧A1)„ᎄ ႁ ፑ ӏ ᡋ ᆪ ၰ ᔤ Ԟ ᗋ ज ୾ ȶཱུ ӏ ᡋ ȷЖ ᛗ ϰ ӈ ሰؒ(6442)(စᔽA3)„τҴӏᘘ౱ᘹӵ࡚ӕҍၦ5.6ޑ࡛БρӵࠓூѯϜڦቈτҴӏ(3008) (စᔽC1)„ᎄႁх౪AIΠٿᖓึऌӭ၅(Ϗ୧A3)„TIᘉӫᐡᏣ΢୧ᐡѯኆໍ׿(Ϗ୧B1)„ᇨϾࡋऌ׿ٴࠓDRAM (စᔽC3)„๽ུऌ⢊٥ᕖւழࠑ(စᔽC3) |ݚᖃစϸ „जᄈђಋ50ʦᜱใȂज୾яπՎђ਍τќЩᇅໍπќЩȂᄈGDPኈ៫ޠ„ኈ៫ޠࠣѠ૗ᄈ୧ݚϸ„ज୾ᇅђ਍τຸܿ᏾፣ཽќαॴȉ„๗፤ȈԫԪज୾ᄈђ਍τಋя50%ᜱใ |୾ር޷Ҁၦଊ „ӓ౩޷ҀІ୧ࠣቌੀၦଊ„୾ር޷Ҁл्ঐ޷ቌੀၦଊ ݚᙐ޷ዻ༗Іฑᘉ޷ѯ „໋Ρज޷ѳτࡿ኶ӓ኶αᅜȂၿᛞࡿ኶αᅜ0.74%Ȃໍາљτᅜ5.21%ȂѯᑗႬADRαᅜ5.55%Ȅ„໋Ρѯ޷ҦࠊܼΚСѵၦ༊ϊൾ፳ົйᒋၦࡼ៊τ෶ޠ௒ݸί໡ାȂӶӼᔭ᠍অ޷ᅜ୅ழ୞ίȂࡿ኶२ུԞ ඉ۠ጤІ44,000ᘉȂಥൠαᅜ1,783.17ᘉȂᅜൾ4.20%Վ44,232.87ᘉȂԚһߝ᚟࣐8,662.52ቈϰȄαҀѵၦ፳ົ43.32ቈϰȂ׺߭ຶົ171.14ቈϰȂՍᕋ୧ຶົ35.07ቈϰȂήτݳ΢Ӭॏຶົ164.89ቈϰȄαҀᒋၦቩђ74.61ቈϰȂᒋၦᎸ᚟࣐5,764.96ቈϰȄαᘤᒋၦቩђ20.99ቈϰȂᒋၦᎸ᚟1,902.90ቈϰȄ „ዻ८ఋထР८ȂႬφαᅜ4.81%ȃߝᒋαᅜ0.85%ႬαᅜߝߩІ2.28%ȄөఋထϜпݷႬᐾ੊ȃႬφႮಣӈȃႬဟІ໋ᜟ೪റȃڐуႬφ๊αᅜົႇ5%ߓ౫ၷٺȇߓ౫৶༗ఋထ࣐ᆧ૗ᕘߴȃᐝጳȃ኶՞໵ᆓίໂົႇ0.5%Ȅ ܿ෉ೳһၦଊ „ήτݳ΢ѯࡿ෉ഌ՞ᡑϾȂՍᕋ୧Ӽ൑෶Ў1,771πȂґ҂ঙӼ൑ژٿ1,203πȇ׺߭Ӽ൑ቩђ3,124πȂґ҂ঙӼ൑ژٿ75,570πȇѵၦޫ൑ቩђ153ژٿ൑ޫπȂґ҂ঙ78,490πȂήτݳ΢ޫ൑෶Ў1,200πȂژٿ൑ޫґ҂ঙ1,717πȄ / (A1) AI202751012162810 5~10%10%3Q26AI14%1.45266%2Q2642.4%5.42EPS 105.062,760(7.1PBR*2027BVPS(F)) „(6442)(A3) 50100(Dark Fiber)AIAIAI(6442) 2026(1)288864 1,7283,4566,91213,824CSP(2)CPO(ELS)(FAU)2026(3)2026/202725.5%/63.5%132.1/216.1EPS31.32/53.592,500 5.6(3008) (C1) 5.61CPO CPO202672027Multi-sourcePOCOne RowCPO20285%20262027EPS185.04200.72Forward PER11-17CPO2028204,000 AI(A3) SIGGRAPH 2026RTX SparkAIRTX SparkAIAI PCAIAIAI AIAI PCEdge AIASIC4Q26202027202720282027AI ASICSOCAIASICAI2Q2620262027EPS63.4106.18 „TI(B1) ICSoCMCU 1Q265.3712.7%AI PC51.9%5NREEPS 3.720262027202620272026EPS 10.62PER 30 „DRAM (C3) 2408AI21IO DRAM UWIO DRAM3D IC AI35UWIO DRAMWafer-on-Wafer3D ICDRAMCPUASIC5~10HBM1/10AIAI20%AIPCLTA20276,479.185.07%EPS 127.37600(3.5PBR*2027BVPS(F)) (C3) 7/2167.171YoYEPS1.481.13 6BB Ratio3~580%BB ratio1.2 ᖃᡞစᔽ኶ᐄϸݚ_ዊजҀൠ „जᄈђಋ50ʦᜱใȂज୾яπՎђ਍τќЩᇅໍπќЩȂᄈGDPኈ៫Ȉޠ2025Ԓज୾GDPङ23.8ӑजϰȂяπ2.6ӑजϰȃໍπ3.6ӑजϰȂяπᇅໍπϸրќGDPङ10.9%І15.1%ȄϜڐȂज୾ᄈђ਍τяπ3,336.2ቈजϰȂќᖃяπङ12.8%ȂङќGDP 1.4%ȇՍђ਍τໍπ3,819.2ቈजϰȂќᖃໍπङ10.6%ȂङќGDP1.6%Ȃᚗᜟຸܿଜৰङ483ቈजϰȂќGDP༊ङ0.2%ȄҦԫѠُȂђ਍τᗷज୾ഷ२्ޠຸܿჲգϟΚȂկᚗᜟຸܿᄈᐍᡞGDPޣޠ௦ኈ៫ԥ४ȄดՅȂђ਍τӶٚآȃ࡛؆ȃॶࠣȃᎠ؆ІФ؆๊౱ཿٽᔗᜧќԥ२्ӵ՞ȂΚҎ50%ᜱใҔԓᄃࢋȂ฼෉஡ණାӍཿ௵ᗋԚҐȃኈ៫ၯძٽᔗᜧၽձȂٯቩђӍཿ።ᐍٽᔗٿྜޠԚҐȄᄈज୾ՅّȂፑᔟ஡л्Ї࢏Ӷ੬ۢ౱ཿԚҐІ೾ᑸȂՅߩᐍᡞစᔽԚߞȄ„ϸݚѠ૗ᄈ୧ࠣኈ៫ȈޠҐԪ50%ᜱใోᇑ଩᜹ȃٱᇨࠣȃЬݬȃঢ়ڏȃ݉Ⴛȃ෭ݩԲ೪റȃӖαԣේ౩ң๊ࠣ ੒ໍາࠣᇅ࡛؆Ȃկ૗ྜȃ႖޴ȃᜱᗥᝫ౱Іന᜹๊᏾౲ޑၦᕖூᗆռȄ฼෉ՅّȂज୾ໍπ୧ԚҐ஡ණାȂഌϸ୧ࠣቌੀѠ૗ᙾ༻Վ੒ໍາ޲Ȃঢ়ڏȃ࡛؆Іॶ๊ࠣቌੀ८ᖞαᅜᔇΩȇђ਍τяπ୧ࠍӱቌੀᝰލΩί७Ȃᄈजяπ஡ژڨᔇ׼ȂٻߵӍཿ൷ڐ׳уҀൠܗ።ᐍٽᔗᜧҁ׌Ȅ „ज୾ᇅђ਍τຸܿ᏾፣ཽќαॴȉᐍᡞՅّȂज୾Ϭඬԥၷτᓻ༗Ȃӱ࣐ज୾ᄈђ਍τຸ࣐ܿଜৰȂࢉђ਍τାٸ࡚ᒧज୾ҀൠȂดՅȂђ਍τජඬᎠȃФ؆І႖޴๊२्ၦྜȂज୾฼෉ϲᜳп׈ӓژ׳෈хٿྜȂϬ໹ڨܜഌϸԚҐαЁᇅٽᔗᜧ።ᐍᔇΩȄӱԫȂ฼෉ज୾ፚց᝱ጇၷ஽Ȃկसፑऐࡼ៊Ё઼ȂᚗРഎ஡ряစᔽхቌȄ „๗፤ȈԫԪज୾ᄈђ਍τಋя50%ᜱใȂޣ௦ኈ៫ޠຸܿ೤ዂќज୾GDPЩ२ϛାȂӱԫᄈᐍᡞစᔽԚߞፑᔟԥ४Ȃկ஡ණା੬ۢ౱ཿޠҢ౱ԚҐٯђഁіजٽᔗᜧ२ಣȄώ඾ޠۻ࢈ҭޠϛ༊Ӷᕼ෶ຸܿଜৰȂוగᙥҦᜱใࢋᔇђ਍τ२ུፚցUSMCAȂٯ௱୞ᇨആཿӲࢻᇅᎠཿ׺ၦȄґٿҀൠᔗࡼ៊ᜱݨђ਍τ֐௵ڦൣඉܓ௪ࢋȃᚗРፚցໍ৥ȂпІᜱใᄈ೾ᑸȃӍཿ׺ၦᇅіजٽᔗᜧޠϜߞ෉ኈ៫Ȅ 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