软件股溢价已跌至金融危机以来新低,高盛:别急,还没跌透!

华尔街见闻
Feb 09

高盛表示,市场当前真正担忧的,并非短期盈利崩塌,而是中长期利润结构是否面临系统性压缩。本轮软件股调整更像是重估过程的前半段,利润率仍处于周期高位、共识EPS尚未反映潜在的竞争冲击、市场主要通过估值压缩来消化不确定性。股价的可持续反弹,往往发生在盈利预期触底并开始修复之后。在 AI 颠覆预期迅速升温的背景下,全球软件与 IT 服务板块正经历一轮深刻的估值重定价。据追风交易台,高盛分析师Sharon ...

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