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台积电与可比公司研发费用对比(亿美元)
台积电与可比公司研发费用对比(亿美元)
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所属报告:
台积电-美股公司投资价值分析报告:全球晶圆代工龙头正逐步穿越周期低点-230224(40页).pdf
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fCDlubTku70gICB8IOWPsOenr+eUtei1hOacrOW8gOaUr++8iOS6v+e+juWFg++8iSB8CnwtLS0tLS0tLXwtLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS18CnwgMjAyMSAgIHwgMzAwICAgICAgICAgICAgICAgICAgICB8CnwgMjAyMiAgIHwgMzYwICAgICAgICAgICAgICAgICAgICB8CnwgMjAyMyAgIHwgMzA1ICAgICAgICAgICAgICAgICAgICB8CnwgMjAyNCAgIHwgMzAwICAgICAgICAgICAgICAgICAgICB8CnwgMjAyNSAgIHwgNDEwICAgICAgICAgICAgICAgICAgICB8CnwgMjAyNkUgIHwgNTQwICAgICAgICAgICAgICAgICAgICB8CgrotYTmlpnmnaXmupDvvJrlj7Dnp6/nlLXlhazlkYrvvIzlm73kv6Hor4HliLjnu4/mtY7noJTnqbbmiYDmlbTnkIY=
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图4: 台积电AI收入细分(2021–2029年)
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图表10:台积电:剩余收益模型(2026–2037年预测)
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看,2003 年,台积电与联华电子(简称联电)资本开支相当,其中台积电 2003年资本开始为 11 亿美元,联电资本开支为 10 亿美元。后续台积电加大了在资本开支&先进制程等领域中的投入,即使是在 2007-2008 年次贷危机时,公司亦投入了约 20 亿美元 Capex,高于竞争对手联电 10 亿美元的水平。2022 年,台积电 Capex 为 363 亿美元,遥遥领先于竞争对手联电 17.2 亿美元的水平。2)从研发费用指标来看,2006 年台积电研发费用约 5 亿美元,高于联电 2.9 亿美元的水平。2021 年,台积电研发费用为 45 亿美元,远高于竞争对手联电 4.6 亿美元的情况。
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台积电-美股公司投资价值分析报告:全球晶圆代工龙头正逐步穿越周期低点-230224(40页).pdf
全球半导体周期情况
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台积电与下游客户高通合作关系
全球半导体市场规模及预测
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