浦银国际策略观点:AI开始成为美股盈利的增长引擎

浦银国际研究
Aug 15, 2025

浦银国际研究虽然经济面和政策面的不确定性或会降低短期市场风险偏好,当前美股处于高估值亦需谨防“高处不胜寒”。但最新财报季显示美国企业整体韧性较强,盈利增速保持在较高水平,因此强劲的企业盈利增长能力支撑美股中长期上涨的逻辑不变。AI在本次财报季开始成为驱动美股科技股盈利增长的重要引擎,中长期发展趋势逐渐清晰。●二季度大部分美股公司盈利增长超预期。截至8月13日,标普500指数中超过90%的成分股已经...

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