美光科技发布2026财年第四季度财报,营收与毛利率均超预期,但市场反应平淡。第一财经“壹评级”认为,长协机制正实质性改变行业周期属性,市场对远期价格下行风险的担忧被过度定价,存储板块中长期景气度回升逻辑依然坚实。 “壹评级”指出,当前存储业绩仍主要由价格驱动,但市场因美光毛利率指引微降及历史周期烙印的影响,担心2027—2028年的价格存在潜在大幅下跌风险。然而,美光已签署26份战略客户长协,...
Source Link美光科技发布2026财年第四季度财报,营收与毛利率均超预期,但市场反应平淡。第一财经“壹评级”认为,长协机制正实质性改变行业周期属性,市场对远期价格下行风险的担忧被过度定价,存储板块中长期景气度回升逻辑依然坚实。 “壹评级”指出,当前存储业绩仍主要由价格驱动,但市场因美光毛利率指引微降及历史周期烙印的影响,担心2027—2028年的价格存在潜在大幅下跌风险。然而,美光已签署26份战略客户长协,...
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