--- title: "#外资研报" topic_id: 22255288112181111 created_at: 2026-06-04T08:17:47.879+0800 source: zsxq type: topic cssclasses: zsxq-vault --- # #外资研报 - 序号：516 - 星球链接：[打开网页](https://wx.zsxq.com/group/15522451881222/topic/22255288112181111) - 附件：图片 0，音频 0，文档 9 - 音频文件：_无音频_ ## 图片 _无图片_ ## 正文 _无正文_ ## 总体总结 _暂无总结_ ## 文档 ### JPM-辉瑞（PFE.US）：ASCO会议要点——Sigvotatug Vedotin成为肿瘤管线近期焦点 Pfizer Inc. ASCO Takeaways – Sigvotatug Vedotin Represents Near-Term Focus In Oncology.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260604_0817__外资研报__JPM-辉瑞（PFE.US）：ASCO会议要点——Sigvotatug Vedotin成为肿瘤管线近期焦点 Pfizer Inc. ASCO Takeaways – Sigvotatug Vedotin Represents Near-Term Focus In Oncology.pdf|JPM-辉瑞（PFE.US）：ASCO会议要点——Sigvotatug Vedotin成为肿瘤管线近期焦点 Pfizer Inc. ASCO Takeaways – Sigvotatug Vedotin Represents Near-Term Focus In Oncology.pdf]] #### 预览 [[assets/docs/260604_0817__外资研报__JPM-辉瑞（PFE.US）：ASCO会议要点——Sigvotatug Vedotin成为肿瘤管线近期焦点 Pfizer Inc. ASCO Takeaways – Sigvotatug Vedotin Represents Near-Term Focus In Oncology.pdf|JPM-辉瑞（PFE.US）：ASCO会议要点——Sigvotatug Vedotin成为肿瘤管线近期焦点 Pfizer Inc. ASCO Takeaways – Sigvotatug Vedotin Represents Near-Term Focus In Oncology.pdf]] ### JPM-联发科：上调 TPUv9 Humufish 预期；分析师日释放强劲长期增长信号；目标价上调至新台币 5300 元 MediaTek Inc. Upsizing TPUv9 Humufish expectations; strong messaging on long-term growth at Analyst day; Raise PT to NT$5300.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260604_0817__外资研报__JPM-联发科：上调 TPUv9 Humufish 预期；分析师日释放强劲长期增长信号；目标价上调至新台币 5300 元 MediaTek Inc. Upsizing TPUv9 Humufish expectations; strong messaging on long-term growth at Anal.pdf|JPM-联发科：上调 TPUv9 Humufish 预期；分析师日释放强劲长期增长信号；目标价上调至新台币 5300 元 MediaTek Inc. Upsizing TPUv9 Humufish expectations; strong messaging on long-term growth at Analyst day; Raise PT to NT$5300.pdf]] #### 预览 [[assets/docs/260604_0817__外资研报__JPM-联发科：上调 TPUv9 Humufish 预期；分析师日释放强劲长期增长信号；目标价上调至新台币 5300 元 MediaTek Inc. Upsizing TPUv9 Humufish expectations; strong messaging on long-term growth at Anal.pdf|JPM-联发科：上调 TPUv9 Humufish 预期；分析师日释放强劲长期增长信号；目标价上调至新台币 5300 元 MediaTek Inc. Upsizing TPUv9 Humufish expectations; strong messaging on long-term growth at Analyst day; Raise PT to NT$5300.pdf]] ### JPM-迈为股份——订单虽回暖，股价已透支乐观预期；维持“减持”评级 Maxwell - A While orders improve, share price has priced-in blue sky scenario; maintain UW.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260604_0817__外资研报__JPM-迈为股份——订单虽回暖，股价已透支乐观预期；维持“减持”评级 Maxwell - A While orders improve, share price has priced-in blue sky scenario; maintain UW.pdf|JPM-迈为股份——订单虽回暖，股价已透支乐观预期；维持“减持”评级 Maxwell - A While orders improve, share price has priced-in blue sky scenario; maintain UW.pdf]] #### 预览 [[assets/docs/260604_0817__外资研报__JPM-迈为股份——订单虽回暖，股价已透支乐观预期；维持“减持”评级 Maxwell - A While orders improve, share price has priced-in blue sky scenario; maintain UW.pdf|JPM-迈为股份——订单虽回暖，股价已透支乐观预期；维持“减持”评级 Maxwell - A While orders improve, share price has priced-in blue sky scenario; maintain UW.pdf]] ### JPM-全球存储市场：CPU 助力 “更高更长” 的上行周期论点，2028 年预计市场规模达 1.7 万亿美元；估值框架正在调整 Global Memory Market CPU adds fuel to the ‘higher and longer’ upcycle thesis and 28E TAM at $1.7trn; valuation framework transition in progress.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260604_0817__外资研报__JPM-全球存储市场：CPU 助力 “更高更长” 的上行周期论点，2028 年预计市场规模达 1.7 万亿美元；估值框架正在调整 Global Memory Market CPU adds fuel to the ‘higher and longer’ upcycle thesis and 28E TAM at.pdf|JPM-全球存储市场：CPU 助力 “更高更长” 的上行周期论点，2028 年预计市场规模达 1.7 万亿美元；估值框架正在调整 Global Memory Market CPU adds fuel to the ‘higher and longer’ upcycle thesis and 28E TAM at $1.7trn; valuation framework transition in progress.pdf]] #### 预览 [[assets/docs/260604_0817__外资研报__JPM-全球存储市场：CPU 助力 “更高更长” 的上行周期论点，2028 年预计市场规模达 1.7 万亿美元；估值框架正在调整 Global Memory Market CPU adds fuel to the ‘higher and longer’ upcycle thesis and 28E TAM at.pdf|JPM-全球存储市场：CPU 助力 “更高更长” 的上行周期论点，2028 年预计市场规模达 1.7 万亿美元；估值框架正在调整 Global Memory Market CPU adds fuel to the ‘higher and longer’ upcycle thesis and 28E TAM at $1.7trn; valuation framework transition in progress.pdf]] ### JPM-亚洲工厂自动化与机器人-20260602.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260604_0817__外资研报__JPM-亚洲工厂自动化与机器人-20260602.pdf|JPM-亚洲工厂自动化与机器人-20260602.pdf]] #### 预览 [[assets/docs/260604_0817__外资研报__JPM-亚洲工厂自动化与机器人-20260602.pdf|JPM-亚洲工厂自动化与机器人-20260602.pdf]] ### JPM-中国电池供应链：盈利复苏、资本支出周期开启与人形机器人新机遇 China Battery & Materials From ASP recovery to profit delivery; tactical OW on CALB and Putailai; CATL remains top pick and core holding.pdf - 状态：failed - 错误：内部错误 - 本地资源：_无本地文件_ ### JPM-存储器市场：AI驱动与HBM展望-20260603.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260604_0817__外资研报__JPM-存储器市场：AI驱动与HBM展望-20260603.pdf|JPM-存储器市场：AI驱动与HBM展望-20260603.pdf]] #### 预览 [[assets/docs/260604_0817__外资研报__JPM-存储器市场：AI驱动与HBM展望-20260603.pdf|JPM-存储器市场：AI驱动与HBM展望-20260603.pdf]] ### JPM-德昌电机（0179.HK）：2026财年业绩点评——AI基建加速放量，人形机器人进展缓慢，中国汽车疲软仍构成拖累 Johnson Electric - H FY26 results：AI infrastructure ramps, humanoid progresses slowly, but China auto weakness still weighs.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260604_0817__外资研报__JPM-德昌电机（0179.HK）：2026财年业绩点评——AI基建加速放量，人形机器人进展缓慢，中国汽车疲软仍构成拖累 Johnson Electric - H FY26 results：AI infrastructure ramps, humanoid progresses slowly, but China.pdf|JPM-德昌电机（0179.HK）：2026财年业绩点评——AI基建加速放量，人形机器人进展缓慢，中国汽车疲软仍构成拖累 Johnson Electric - H FY26 results：AI infrastructure ramps, humanoid progresses slowly, but China auto weakness still weighs.pdf]] #### 预览 [[assets/docs/260604_0817__外资研报__JPM-德昌电机（0179.HK）：2026财年业绩点评——AI基建加速放量，人形机器人进展缓慢，中国汽车疲软仍构成拖累 Johnson Electric - H FY26 results：AI infrastructure ramps, humanoid progresses slowly, but China.pdf|JPM-德昌电机（0179.HK）：2026财年业绩点评——AI基建加速放量，人形机器人进展缓慢，中国汽车疲软仍构成拖累 Johnson Electric - H FY26 results：AI infrastructure ramps, humanoid progresses slowly, but China auto weakness still weighs.pdf]] ### JPM-电话会后点评：戴尔科技 (DELL) 上涨37.8....pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260604_0817__外资研报__JPM-电话会后点评：戴尔科技 (DELL) 上涨37.8....pdf|JPM-电话会后点评：戴尔科技 (DELL) 上涨37.8....pdf]] #### 预览 [[assets/docs/260604_0817__外资研报__JPM-电话会后点评：戴尔科技 (DELL) 上涨37.8....pdf|JPM-电话会后点评：戴尔科技 (DELL) 上涨37.8....pdf]]