异动解读 | 西部数据夜盘大跌11.97%,业绩超预期但指引未能满足市场极高期待

异动解读
6 hours ago

西部数据(WDC)在夜盘交易中遭遇重挫,股价大跌11.97%,引发市场广泛关注。此前,公司于盘后公布了2026财年第四季度财报,尽管业绩全面超出预期,但市场对AI存储需求的期待已远不止于"达标"。

从财报数据来看,西部数据交出了一份亮眼的成绩单。第四财季营收达到37.47亿美元,同比增长44%,高于市场预期的36.8亿美元;调整后每股收益为3.56美元,同样高于分析师预期的3.31美元;净利润同比暴增逾12倍。此外,公司对2027财年第一季度的业绩指引也颇为积极,预计营收在40亿至42亿美元之间,调整后每股收益为3.85至4.15美元,两项指引均优于市场预期。公司CEO还透露,客户长期协议(LTA)的能见度已延伸至2031年,AI驱动的数据存储需求前景乐观。

然而,尽管业绩和指引双双超出预期,西部数据股价却在夜盘大幅下挫。分析人士指出,存储板块此前经历了大幅上涨,西部数据股价今年以来累计上涨约2倍,市场已经提前反映了AI存储需求回升带来的盈利改善。在财报发布前,投资者普遍希望公司能给出更强劲的业绩惊喜,以匹配其高企的估值。高盛在点评中指出,当前存储行业面临的核心矛盾并非基本面恶化,而是市场预期已过度领先于现实,仅与市场预期持平的指引被视为"不够惊喜"。相较于竞争对手希捷此前给出的更为激进的业绩展望,西部数据的指引显得相对审慎,导致前期获利资金在财报落地后集中出逃,上演了"利好出尽"的行情。

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