<?xml version="1.0" encoding="utf-8" standalone="yes"?><rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom"><channel><title>半导体设备 on 没用知识库</title><link>https://blog.alansun.host/tags/%E5%8D%8A%E5%AF%BC%E4%BD%93%E8%AE%BE%E5%A4%87/</link><description>Recent content in 半导体设备 on 没用知识库</description><generator>Hugo -- gohugo.io</generator><language>zh-cn</language><managingEditor>alansundy@gmail.com (羊羊羊)</managingEditor><webMaster>alansundy@gmail.com (羊羊羊)</webMaster><copyright>© 2026 羊羊羊</copyright><lastBuildDate>Tue, 30 Jun 2026 00:00:00 +0000</lastBuildDate><atom:link href="https://blog.alansun.host/tags/%E5%8D%8A%E5%AF%BC%E4%BD%93%E8%AE%BE%E5%A4%87/index.xml" rel="self" type="application/rss+xml"/><item><title>长鑫存储（CXMT）的挑战与 DRAM 内存超级周期</title><link>https://blog.alansun.host/posts/20260630_%E9%95%BF%E9%91%AB%E5%AD%98%E5%82%A8%E7%9A%84%E6%8C%91%E6%88%98%E4%B8%8E%E5%86%85%E5%AD%98%E8%B6%85%E7%BA%A7%E5%91%A8%E6%9C%9F/</link><pubDate>Tue, 30 Jun 2026 00:00:00 +0000</pubDate><author>alansundy@gmail.com (羊羊羊)</author><guid>https://blog.alansun.host/posts/20260630_%E9%95%BF%E9%91%AB%E5%AD%98%E5%82%A8%E7%9A%84%E6%8C%91%E6%88%98%E4%B8%8E%E5%86%85%E5%AD%98%E8%B6%85%E7%BA%A7%E5%91%A8%E6%9C%9F/</guid><description>基于 SemiAnalysis 深度研究，剖析全球第四大 DRAM 厂商长鑫存储在设备管制、制程代差与良率上的真实约束，论证为何其扩产短期内不会终结由 HBM 驱动的内存超级周期。</description><media:content xmlns:media="http://search.yahoo.com/mrss/" url="https://blog.alansun.host/posts/20260630_%E9%95%BF%E9%91%AB%E5%AD%98%E5%82%A8%E7%9A%84%E6%8C%91%E6%88%98%E4%B8%8E%E5%86%85%E5%AD%98%E8%B6%85%E7%BA%A7%E5%91%A8%E6%9C%9F/featured.jpg"/></item><item><title>半导体设备四巨头估值复利：从装机存量看 ASML、应用材料、泛林与科磊</title><link>https://blog.alansun.host/posts/20260615_%E8%AE%BE%E5%A4%87%E5%9B%9B%E5%A4%A7%E4%BC%B0%E5%80%BC%E5%A4%8D%E5%88%A9/</link><pubDate>Mon, 15 Jun 2026 00:00:00 +0000</pubDate><author>alansundy@gmail.com (羊羊羊)</author><guid>https://blog.alansun.host/posts/20260615_%E8%AE%BE%E5%A4%87%E5%9B%9B%E5%A4%A7%E4%BC%B0%E5%80%BC%E5%A4%8D%E5%88%A9/</guid><description>穿透晶圆厂前道设备（WFE）表观市占率，从技术代际垄断、装机存量售后复利（CSBG）、客户粘性与自由现金流质量四个维度，解析 ASML、AMAT、LRCX 与 KLAC 的估值分化逻辑。</description><media:content xmlns:media="http://search.yahoo.com/mrss/" url="https://blog.alansun.host/posts/20260615_%E8%AE%BE%E5%A4%87%E5%9B%9B%E5%A4%A7%E4%BC%B0%E5%80%BC%E5%A4%8D%E5%88%A9/featured.jpg"/></item></channel></rss>