阿斯麦25Q4财报点评:订单指引大增,AI开支扩散至上游

塔子哥的随笔
Jan 28

阿斯麦这份财报整体符合预期,主要是订单大超预期,指引也给的不错,证实了这一段时间以来股价大幅攀升有基本面的支持。展望后市,由于股价大幅攀升,我们对阿斯麦的态度趋于谨慎:尽管订单和指引不错,但估值偏高+股价大涨+毛利率小幅承压,未来一段时间其股价隐含回报率并不多高,投资者需要谨慎追高买入。【文末附详细分析】具体来看,阿斯麦2025四季报主要财务数据如下:01财务表现营业收入97.18亿欧元,略高于...

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