大行評級|高盛:予蘋果“買入”評級及目標價266美元 關稅豁免或帶來成本優勢
高盛發表報告指,蘋果承諾在未來四年內在美國投資6000億美元,此前爲5000億美元。另外,蘋果獲得的關稅豁免應能緩解在最新宣佈的100%半導體關稅實施前的關稅阻力擔憂。此外,該豁免還可能使蘋果相較於未獲得豁免的智能手機、個人計算機和平板計算機競爭對手具備潛在的成本優勢。報告指,蘋果新承諾投資建設先進蘋果服務器設施,以支持Apple Intelligence和私有雲計算,這表明蘋果正在加快對AI的投資步伐。該行認爲,這提高了蘋果AI軟件努力成功的可能性,並降低了進行AI相關併購的概率。高盛對蘋果給予“買入”評級,目標價266美元,相較於蘋果的歷史估值倍數以及與主要科技同行相比,目前估值具有吸引力。該行指,未來五年內,大部分毛利增長應由服務業務驅動,這將標誌着服務投資故事的轉折點,並支持蘋果的溢價估值。
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