本报告导读:AI 持续贡献超预期收入,VMware 整合顺利、释放利润,ASIC 市场规模指引积极。投资要点:盈利预测与投资建议:我们小幅调整 FY2025E-FY2027E 营收预测为620/643/707 亿美元(前值为613/636/700 亿美元);经调整净利润为313/337/401 亿美元(前值为308/328/382 亿美元)。根据SOTP估值法,目标价253 美元,维持“谨慎增持”...
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