格隆汇4月18日|天风国际分析师郭明𫓹表示:台积电今天(4月17日)的法说,信息量庞大。台积电今天的说法是,考虑到美国厂对毛利率的稀释,长期毛利率展望是维持在53%以上 (vs. 1Q25是58.8%),负面影响高于我先前的推估,原因在于台积电还考虑了通膨(通胀)跟关税造成的成本。 这代表什么意思?台积电帮大家示范,通膨跟关税对毛利率潜在的影响该如何计算。如果要把这逻辑套用在其他厂商,还要先考虑到...
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