伯恩斯坦：Arm营收增长预期过于乐观，给予“跑输大盘”评级

智通财经2023-09-19

当地时间周一，新上市的芯片设计公司Arm Holdings Plc(ARM.US)股价下跌4.5%，此前伯恩斯坦公司将该公司评级定为“跑输大盘”，目标价46美元，暗示该公司可能不会像一些投资者预期的那样，受益于AI热潮。据了解，Arm股价一度下跌9.4%，至55.02美元，低于上周四首次公开发行(IPO)后56.10美元的开盘价。尽管该股周一收复了大部分跌幅，收跌4.5%，收于58美元，但伯恩斯坦...

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Russo写道:“尽管对Arm将受益于人工智能增长的预期可能会给股价带来溢价，但我们认为，现在宣布Arm成为人工智能领域的赢家还为时过早。随着移动终端市场的成熟，我们认为对营收增长的预期过于乐观。”伯恩斯坦是第三家开始对Arm进行评级的公司，到目前为止，市场对该公司的评级分布均匀。除了伯恩斯坦给出的“跑输大盘”评级外，New Street Research建议“买入”该股，而Needham给出的评级是“持有”。Needham分析师Charles Shi写道，该公司估值“看起来充分”。Arm周一的下跌与整个行业形成鲜明对比。费城证券交易所半导体指数上涨近0.5%。在涨幅较大的个股中，AMD(AMD.US)上涨近0.9%，拉姆研究上涨超2%。据悉，软银集团持有多数股权的Arm上周向公众发行了48.7亿美元的股票，成为今年规模最大的IPO。这家总部位于英国剑桥的公司并不是一家传统的芯片制造商。该公司向科技公司提供半导体设计，并从使用中收取版税。此外，它还许可了控制芯片与软件通信的基本技术。这意味着它是一家极具影响力的公司，在世界上每一家主要科技公司都有立足之地。而该公司的挑战在于如何将这种影响力转化为更大的收入。伯恩斯坦分析师Russo表示:“我们对他们是否有能力按照管理层的指导速度提高版税费率持保守态度。”","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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