[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio0ac88e80":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"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},"dcio0ac88e80","瑞银前瞻AI算力产业链：订单爆满、供给卡壳-Arista(ANET)等财报料有惊喜","\u002Fdoc\u002Fdcio0ac88e80","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp> \u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，数据中心基建投资迎来加速窗口，瑞银于周二发布前瞻报告，分析了Arista Networks(ANET)、天弘科技(CLS)、极速网络(EXTR)和Lumentum(LITE)等四家网络及光通信企业的业绩前景。行业核心亮点是交换机等产品需求强劲，多数标的营收有望超出机构预期，但供应链瓶颈成为制约全行业业绩兑现的共性问题。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">瑞银分析师David Vogt在报告中写道“过去三个月，全球数据中心基建投资持续提速，有望带动行业需求\u002F订单和积压订单同步高增。但网络芯片、CPU等核心元器件，以及磷化铟(InP)等关键原材料的交付周期拉长可能会抑制营收增长，因为调查显示各公司无法完全满足潜在需求。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">该分析师补充道“我们的行业调查显示，过去几个月数据中心网络交换机的需求有所增强，这为Arista和天弘科技强劲的季度业绩和未来展望提供了支撑，尽管博通网络芯片短缺。对于极速网络而言，有线网络与WiFi业务需求保持强劲，公司营收有望小幅超出预期。光通信产业链层面，光电路交换机(OCS)产量提升，以及EML和泵浦激光器等收发器件及组件需求旺盛，将为Lumentum带来业绩利好。不过调查同时显示，光通信供应链瓶颈仍未消解，这可能会限制订单转化为营收。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Vogt 进一步分析称，Arista通过与超大型云服务商和新云平台建立并深化合作关系而获益，这将推动其营收和利润超过预期。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">他补充道“更关键的是，由于过去9-12个月订单量稳步增长以及产品延期收入加速增长，我们预计该公司2026财年的营收增长指引将从27.5%上调至33%。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">对于天弘科技而言，情况略有不同，因为最近的渠道调查显示，此前困扰公司的供应链不利因素已缓解。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Vogt 表示“我们的季度内跟踪调查显示，上季度拖累服务器\u002F张量处理器(TPU)营收的供应链问题已妥善解决;而Meta和亚马逊对以太网交换机的需求依然强劲。因此，我们的分析表明，天弘科技本季营收可能比预期高出3%至4%，达到约45亿美元;对应每股收益(EPS)有望较我们2.29 美元的预测值提升约5%，至2.40美元，同样高于公司给出的2.14至2.34美元指引区间。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">市场对极速网络的有线和无线网络设备的需求“强劲”，Vogt 认为这将推动该公司营收超过预期，并接近公司此前给出的3.35亿美元指引上限。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Vogt解释说“潜在的营收增长以及定价策略带来的毛利率提升，应该会使每股收益略高于我们此前预测的0.29美元，公司指引区间为0.28-0.30美元。但我们注意到，当前股价已提前定价业绩超预期与上调指引的利好。对于2027财年，我们预计公司给出营收指引 13.7 亿 - 14 亿美元，按区间中值计算同比增长约 8%;我们此前预期为 13.7 亿美元，市场一致预期 13.88 亿美元，投资者的业绩预期可能会略高一些。“\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Vogt还表示，Lumentum的光电路交换机营收稳步增长，‌200G EML‌(电吸收调制激光器)需求持续火热，这有望推动其营收超过10亿美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Vogt写道“尽管供应限制可能导致Lumentum的出货量低于潜在需求，但运营杠杆效应将摊薄单位成本，推动稀释后每股收益较我们此前预期的3美元高出3%-4%。对于9月26日的季度，我们预计公司营收将在11.5亿至12亿美元之间，略高于我们此前预测的11.49亿美元，按区间中值计算同比增长约120%。尽管存在一些供应限制因素，投资者对业绩的预期仍然略高。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，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模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 每天处理千万级股票数据：捕捉期权大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准交易信号第一时间发到您手机APP！\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp> \u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FA\u002FANET\u002FANET.jpg","2026-07-15T15:02:58","2026.07.15","2026\u002F07\u002F15",53104,[22],"ANET","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":71,"summaryHtml":76,"aboutTitle":77,"aboutHtml":78,"copyrightHtml":79},[44,47,50,53,56,59,62,65,68],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fvip",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"AI智能体","\u002FAiAgent",{"label":60,"url":61},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":63,"url":64},"美股课程","\u002Fcol\u002Fvideos",{"label":66,"url":67},"免责声明","\u002Fdisclaimer",{"label":69,"url":70},"联系我们","\u002FContactUs",[72,73,74,75],"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 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" target=\"_blank\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 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，每天处理海量股票数据：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，美股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":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"edit":87,"editVideo":88,"courseContent":89,"more":90,"buyNow":91,"subscribeNow":92,"encoding":93,"paidContent":94},"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"]