大摩:美股科技硬件板塊尚未見底
隨着多家領先的科技硬件公司準備從下週開始發佈一系列業績報告,在企業預算緊縮和支出削減的情況下,該行業何時才能真正恢復到持續增長的狀態仍然存在不確定性。
這也是摩根士丹利分析師Erik Woodring對硬件行業的評估。他表示,儘管科技硬件公司今年迄今爲止表現良好,但“我們還沒有準備好認爲本輪週期見底”。Woodring表示,他是根據最近對科技公司首席信息官和硬件客戶的調查作出這一觀點的。
Woodring最近將其對硬件行業的看法從“謹慎”升級爲“中性”,理由是“IT硬件的後周期負盈利修正已完成50%至75%”。然而,Woodring表示,即使該行業的情況似乎有所好轉,“投資者的首要爭論仍然是底部是否已經過去,現在是時候對硬件股採取更積極的態度了”。
摩根士丹利最近的調查數據也進一步加劇了這種情緒,Woodring表示,該調查顯示,硬件行業增長預期連續第四次下調,首席信息官削減預算的風險正在“上升”。
Woodring稱:“雖然我們認爲已經取得了進展,但我們仍在等待(和)觀察(硬件領域)可能取得更具建設性的進展。”
談到特定的硬件公司時,Woodring表示,投資者應該將注意力轉向“有估值支持、估值下調風險較低、運營效率較高的優質公司”,並列舉了蘋果(AAPL.US)、CDW Corp.(CDW.US)和天睿公司(TDC.US)等符合“增持”標準的公司。
另一個極端是Woodring所稱的硬件公司,這些公司的股票“負面預估修正風險較高”,股價可能以"不合理的溢價估值"交易。Woodring表示,屬於這一領域的公司包括惠普(HPQ.US)、羅技(LOGI.US)、施樂(XRX.US)和Cricut(CRCT.US)。
最後,Woodring補充道,隨着一系列財報即將出爐,“投資者需要爲早期週期做好準備”,即以歷史爲鑑,硬件行業平均跑贏標普500指數30至35點。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.