[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dciob562a7ca":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dciob562a7ca","AI需求爆发推动财报飙升-美光(MU)Q2营收同比翻近三倍-高额资本开支引发市场担忧","\u002Fdoc\u002Fdciob562a7ca","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp> \u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">在人工智能浪潮持续推动下，美国存储芯片巨头美光科技(MU)交出了一份远超市场预期的业绩，但高强度资本支出计划令投资者情绪趋于谨慎，公司股价在盘后交易中下跌2%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，财报显示，截至2月26日的2026财年第二财季，美光营收同比大幅增长至238.6亿美元，较去年同期的80.5亿美元接近翻三倍，远高于市场预期的200.7亿美元；调整后每股收益为12.20美元，也显著超过预期的9.31美元。净利润大幅跃升至138亿美元，上年同期仅为15.8亿美元，盈利能力显著改善。公司毛利率亦大幅提升至74.4%，较去年同期的36.8%实现翻倍增长。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">强劲业绩主要受益于人工智能需求爆发带来的存储芯片紧缺。随着生成式AI快速发展，对数据中心算力的需求激增，推动以英伟达(NVDA)GPU为代表的AI芯片出货增长，而每一代AI芯片对存储容量的需求持续提升，进一步加剧了DRAM和NAND供需紧张。美光首席执行官Sanjay Mehrotra表示，AI驱动的存储需求增长、结构性供给约束以及公司执行力的提升，共同推动了业绩和指引的大幅上调。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">从业务结构来看，公司云计算相关存储收入同比增长超过160%，达到77.5亿美元，而移动及PC业务收入也从去年同期的22.4亿美元跃升至77.1亿美元，显示需求复苏叠加AI周期对传统业务同样形成支撑。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">展望未来，美光给出了更为乐观的业绩指引。公司预计第三财季营收将达到约335亿美元，同比增幅超过200%，调整后每股收益约为19.15美元，远高于市场预期的243亿美元营收及12美元左右的每股收益水平。公司同时强调，随着AI发展，计算架构将愈发依赖存储资源，美光将成为这一趋势的重要受益者。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">不过，伴随需求爆发而来的，是资本开支的显著提升。公司预计本财年资本支出将超过250亿美元，高于市场此前预期的224亿美元，并预计到2027财年支出将进一步大幅增加，尤其是晶圆厂建设相关投入将额外增加逾100亿美元。目前，美光正在美国爱达荷州和纽约州推进大型晶圆厂项目，其中爱达荷工厂预计于2027年中投产，而纽约总投资高达1000亿美元的项目则预计在2028年下半年实现产出。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">与此同时，美光正加速推进下一代高带宽存储(HBM)产品布局。公司已在本财年第一季度开始为英伟达下一代Vera Rubin架构量产HBM4，并计划在2027年推出升级版HBM4e产品。随着AI算力需求持续升级，HBM已成为行业利润最高的产品之一，推动厂商将更多产能向该领域倾斜。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">然而，市场对美光的长期增长仍存在一定不确定性。作为AI算力核心厂商，英伟达在未来产品中对HBM供应商的选择，将对美光产生重要影响。若其在后续架构中减少对美光产品的依赖，可能对公司构成冲击。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">行业层面，存储芯片供给紧张已对整个科技产业链产生溢出效应。由于厂商优先保障高利润的HBM产品，传统存储产品供应趋紧，价格持续上涨。惠普(HPQ)此前表示，存储芯片价格在当前季度已接近翻倍。SK集团董事长崔泰源也预计，全球半导体供需失衡可能还将持续四至五年。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]