订单越强,扩产越重,台积电的回报率为何反被质疑?

BitPush
Jul 20

作者:火火原标题:台积电要在美国扩产 2650 亿,AI估值越来越看现金流 TSMC 在 7 月 16 日公布二季度财报后,上调全年收入和资本预算指引,并继续推进美国扩产计划。 这本该是 AI 供应链的标准利好。收入高增长,先进制程占比提升,2 纳米开始贡献收入,美国客户需求被管理层描述为多年期结构性需求。市场讨论的重点却从“有没有订单”转向“订单能不能变成足够好的回报”。 原因很直接。AI ...

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