[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcioe89858c9":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcioe89858c9","美光MU2026Q3财报电话会议核心看点","\u002Fdoc\u002Fdcioe89858c9","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\u003Cspan style=\"font-size: large;\">1.\u003Cspan style=\"font-family: DengXian;\">美光\u003C\u002Fspan>Q3\u003Cspan style=\"font-family: DengXian;\">业绩的核心看点是什么\u003C\u002Fspan>?\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">业绩表现极其出色\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">，收入、毛利率和每股收益均创下历史新高，并远超指引上限。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>AI\u003C\u002Fstrong>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">是主要增长引擎\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;→ \u003Cspan style=\"font-family: DengXian;\">数据中心业务收入年化运转率已超过\u003C\u002Fspan>1000\u003Cspan style=\"font-family: DengXian;\">亿美元，需求强劲。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">市场供需严重失衡\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;= \u003Cspan style=\"font-family: DengXian;\">行业需求远超供给，预计这种紧张状况将持续到\u003C\u002Fspan>2027\u003Cspan style=\"font-family: DengXian;\">年之后。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">&nbsp;\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">2.\u003Cspan style=\"font-family: DengXian;\">新推出的\u003C\u002Fspan>“\u003Cspan style=\"font-family: DengXian;\">战略客户协议\u003C\u002Fspan>”(SCA)\u003Cspan style=\"font-family: DengXian;\">为何如此重要？\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cspan style=\"font-family: DengXian;\">这是一次\u003Cstrong>商业模式的根本性变革\u003C\u002Fstrong>，从周期性业务转向更稳定的模式。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">协议核心\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;= \u003Cspan style=\"font-family: DengXian;\">与大客户签订为期多年的\u003C\u002Fspan>“\u003Cspan style=\"font-family: DengXian;\">照付不议\u003C\u002Fspan>”(take-or-pay)\u003Cspan style=\"font-family: DengXian;\">协议，锁定未来的销量和价格区间。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">财务影响\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;→ \u003Cspan style=\"font-family: DengXian;\">协议设有价格下限，确保了即便在市场低谷，毛利率也能\u003Cstrong>远高于\u003C\u002Fstrong>历史上任何周期的峰值。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">客户承诺\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;→ \u003Cspan style=\"font-family: DengXian;\">已签署的\u003C\u002Fspan>16\u003Cspan style=\"font-family: DengXian;\">份协议获得了高达\u003C\u002Fspan>\u003Cstrong>220\u003C\u002Fstrong>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">亿美元\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">的现金存款和财务承诺，这为美光大规模的资本支出计划提供了保障，大大降低了投资风险。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">&nbsp;\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">3.\u003Cspan style=\"font-family: DengXian;\">当前存储行业的供需格局是怎样的？\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">美股投资网获悉，基本上就是\u003Cstrong>需求爆炸\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cstrong> + \u003C\u002Fstrong>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">供给受限\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">的格局将持续数年。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">需求端\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">：\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">对高性能内存的需求是\u003C\u002Fspan>“\u003Cspan style=\"font-family: DengXian;\">贪得无厌\u003C\u002Fspan>”\u003Cspan style=\"font-family: DengXian;\">的，这股浪潮正从数据中心扩展到\u003C\u002Fspan>PC\u003Cspan style=\"font-family: DengXian;\">、手机等边缘设备。机器人和自动驾驶是未来的长期增长点。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">供给端\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">：存在结构性瓶颈。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">新建产能慢\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;→ \u003Cspan style=\"font-family: DengXian;\">晶圆厂建设周期长、复杂且成本高。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">技术升级\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;→ \u003Cspan style=\"font-family: DengXian;\">新制程的比特增长率在放缓。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>HBM\u003C\u002Fstrong>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">挤占\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;→ \u003Cspan style=\"font-family: DengXian;\">高利润的\u003C\u002Fspan>HBM\u003Cspan style=\"font-family: DengXian;\">产品消耗了大量晶圆产能，挤压了普通\u003C\u002Fspan>DRAM\u003Cspan style=\"font-family: DengXian;\">的供应。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">&nbsp;\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">4.\u003Cspan style=\"font-family: DengXian;\">这些基本面如何反映在公司的财务指引上？\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">指引非常强劲\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">，预示着增长将继续。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>Q3\u003C\u002Fstrong>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">业绩\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">：收入\u003C\u002Fspan>415\u003Cspan style=\"font-family: DengXian;\">亿美元（环比增\u003C\u002Fspan>74%\u003Cspan style=\"font-family: DengXian;\">），毛利率高达\u003C\u002Fspan>\u003Cstrong>84.9%\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>Q4\u003C\u002Fstrong>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">指引\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">：预计收入将再创新高，达到\u003C\u002Fspan>\u003Cstrong>500\u003C\u002Fstrong>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">亿美元\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: DengXian;\">，毛利率维持在\u003C\u002Fspan>86%\u003Cspan style=\"font-family: DengXian;\">左右。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">现金流充裕\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;→ Q3\u003Cspan style=\"font-family: DengXian;\">自由现金流高达\u003C\u002Fspan>183\u003Cspan style=\"font-family: DengXian;\">亿美元，资产负债表\u003C\u002Fspan>“\u003Cspan style=\"font-family: DengXian;\">前所未有的强劲\u003C\u002Fspan>”\u003Cspan style=\"font-family: DengXian;\">，为未来的巨额投资和股东回报提供了坚实基础。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">&nbsp;\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">5.\u003Cspan style=\"font-family: DengXian;\">美光\u003C\u002Fspan> MU \u003Cspan style=\"font-family: DengXian;\">未来的资本支出和扩产计划是什么？\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cspan style=\"font-family: DengXian;\">目标是\u003Cstrong>扩大全球制造版图\u003C\u002Fstrong>，以满足\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">驱动的长期需求。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">重点在美国\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;→ \u003Cspan style=\"font-family: DengXian;\">在爱达荷州和纽约州大力投资建设尖端\u003C\u002Fspan>DRAM\u003Cspan style=\"font-family: DengXian;\">晶圆厂，首批产出预计在\u003C\u002Fspan>2027\u003Cspan style=\"font-family: DengXian;\">年中期。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">全球布局\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;→ \u003Cspan style=\"font-family: DengXian;\">同时也在台湾、日本和新加坡扩建产能，特别是在\u003C\u002Fspan>HBM\u003Cspan style=\"font-family: DengXian;\">先进封装领域。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp style=\"text-indent: -0.25in;\">\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: Symbol;\">·\u003Cspan style=\"font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \u003C\u002Fspan>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-family: DengXian;\">信心来源\u003C\u002Fspan>\u003C\u002Fstrong>&nbsp;= \u003Cspan style=\"font-family: DengXian;\">战略客户协议（\u003C\u002Fspan>SCA\u003Cspan style=\"font-family: DengXian;\">）提供了长期的需求可见性，使得公司能充满信心地进行这些大规模投资。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>&nbsp;\u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FM\u002FMU\u002FMU.jpg","2026-06-25T05:47:44","2026.06.25","2026\u002F06\u002F25",53094,[22],"MU","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cimg style=\"display:block;margin-left:auto;margin-right:auto;\" src=\"https:\u002F\u002Fstockwewebfiles.blob.core.windows.net\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":68,"summaryHtml":73,"aboutTitle":74,"aboutHtml":75,"copyrightHtml":76},[44,47,50,53,56,59,62,65],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fplan",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":60,"url":61},"美股课程","\u002Fcol\u002Fvideos",{"label":63,"url":64},"免责声明","\u002Fdisclaimer",{"label":66,"url":67},"联系我们","\u002FContactUs",[69,70,71,72],"https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]