超威半导体:2H25后数据中心或加速增长 估值有吸引力

交银国际
08 May

1Q25 收入超预期,出口管制或影响2Q/3Q25 业绩: 1Q25 收入74.4 亿美元,超过指引上限和我们的预期(71 亿美元),Non-GAAP EPS 0.96 美元,符合我们和市场的预期。客户端业务表现亮眼,收入环比基本持平,未出现之前市场预期的季节性回调,管理层提到主要是因为ASP 提高弥补了出货量环比下降。管理层同时提到客户端业务未发现明显的需求前置现象。与英伟达相似,出口管制使得...

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