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卧底女警沦为泄欲工具,带你领略影视新风潮 - 怀亦网络
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卧底女警沦为泄欲工具,带你领略影视新风潮

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电话:2025 银川市(兴庆区、灵武市、永宁县、金凤区、贺兰县、西夏区)
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绵阳市(盐亭县、北川羌族自治县、江油市、游仙区、安州区、梓潼县、平武县、三台县、涪城区)








南昌市(新建区、西湖区、青云谱区、青山湖区、南昌县、东湖区、进贤县、红谷滩区、安义县)
资阳市(安岳县、乐至县、雁江区)
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广西壮族自治区
阿克苏地区(阿克苏市、阿瓦提县、库车市、温宿县、柯坪县、新和县、沙雅县、拜城县、乌什县)
日喀则市(谢通门县、岗巴县、亚东县、聂拉木县、康马县、白朗县、江孜县、昂仁县、萨迦县、仁布县、桑珠孜区、拉孜县、萨嘎县、吉隆县、定日县、仲巴县、南木林县、定结县)
本溪市(平山区、南芬区、溪湖区、本溪满族自治县、桓仁满族自治县、明山区)
常州市(天宁区、新北区、溧阳市、钟楼区、武进区、金坛区)
忻州市(河曲县、神池县、原平市、代县、保德县、偏关县、定襄县、繁峙县、五台县、岢岚县、忻府区、五寨县、宁武县、静乐县)

  华尔街见闻

  亮眼的财报可能掩盖了深层次的风险,摩根士丹利分析师ShawnKim表示,在更大的影响因素下,财报季并不重要。关税对内存的真正影响就像一座冰山,大多数危险都隐藏在水面之下,而且仍在逼近。

  得益于全球AI领域的竞争以及客户在关税征收前抢进口,SK海力士3月营业利润超出预期增长了158%,但关税风险下的风险仍在逼近。

  周四,韩国内存巨头SK海力士公布3月份当季营业利润增长了158%,为7.44万亿韩元(约合52亿美元),超过预期的6.6万亿韩元,营收增长42%。这是该公司第二好的季度业绩,此前该公司上一季度营收和营业利润均创历史新高。

  作为英伟达重要供应商,SK海力士受益于HBM等AI关键组件的强劲需求增长。SK海力士表示,12层HBM3E芯片的销售额预计将在第二季度增长,占HBM3E总营收的一半以上。该芯片是目前市场上与Nvidia(GPU)使用的最先进的HBM芯片。

  然而,亮眼的财报掩盖了更深层次的风险。摩根士丹利分析师ShawnKim本周在给投资者的一份报告中表示:

  SK海力士也警告称,宏观经济的不确定性将导致下半年需求波动。但该公司仍预测HBM的需求将在2025年翻一番,理由是该公司提前一年与客户达成了供应协议。

  自今年年初以来,SK海力士的股价仅上涨了4%左右。对关税引发的全球经济衰退的担忧,以及DeepSeek低成本模型引发的对盈利能力的重新评估,削弱其股价在过去两年中上涨逾一倍的势头。分析表示,如果贸易紧张局势导致全球经济陷入衰退,所有包含芯片的产品终端需求都面临暴跌的风险。

  随着关税和AI担忧加剧,本月SK海力士看跌押注创历史新高,4月,对SK海力士股票的卖空金额已达1.5万亿韩元(约10亿美元),有望创下月度纪录。与此同时,海外机构投资者本月净卖出超过2.9万亿韩元的SK海力士股票,同样创纪录。

风险提示及免责条款

  市场有风险,投资需谨慎。本文不构成个人投资建议,也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资,责任自负。

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