[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio2c02f7fe":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"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},"dcio2c02f7fe","AI巨头疯狂烧钱，台积电(TSM)却“踩刹车”：4月收入增幅创近半年新低","\u002Fdoc\u002Fdcio2c02f7fe","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，台积电(TSM)4月营收达新台币4107.3亿元，环比下降1.1%。虽然实现了17.5%的同比增长，但为近六个月来最小增幅，且相较于3月份高达45.2%的激增态势，同比增速出现了显著收窄。不过这一增长仅反映了30天的营业情况，且其营收会随月度波动，分析师平均预计该公司6月份当季的营收增速将接近目前的两倍，达到约35%。这种月度增速换挡在很大程度上源于3月份极高的对比基数，当时在AI芯片集中交付与供应链补货的共同推动下，单月营收冲上4151.9亿新台币的历史高点。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">尽管4月单月表现有所降温，台积电前四月累计营收仍达新台币1.5448万亿元，同比增速维持在29.9%。这一数据表明，在人工智能相关芯片需求持续驱动下，公司整体营收扩张趋势未见明显松动。对于投资者而言，累计口径的增长表现或比单月波动更具参考价值。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">据了解，在Alphabet(GOOGL)、亚马逊(AMZN)、Meta Platforms(META)和微软(MSFT)等超大规模云服务商预计今年投入超过7250亿美元用于AI基建的宏观背景下，台积电作为算力供给的战略咽喉，其营收体量维持高位实际上是AI需求从概念预期走向坚实落地的关键实证。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">目前，以3nm和5nm为代表的先进制程贡献了公司近四分之三的销售额，反映出高性能AI芯片对极致能效的刚性需求，也进一步巩固了台积电在半导体供应链中作为景气度风向标的地位。为了应对这一长周期红利，台积电已战略性地将2026年资本支出目标上调至520亿至560亿美元区间，重点投向先进制程及CoWoS等先进封装产能。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">对于美股市场而言，台积电的营收动向被视为“AI行业的总电表”，在科技巨头巨额投入回报率饱受质疑的当下，起到了业绩证伪与信心支撑作用，为英伟达、博通等芯片巨头的后续财报定下了乐观基调。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">然而，4月数据增速的收窄客观反映了当前市场现实矛盾。由于4月正值智能手机供应链的传统淡季，非AI业务的疲软在一定程度上对冲了先进制程的增量红利，这提醒投资者需对传统周期的波动保持警觉。\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> 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