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摩根士丹利称，高通手机业务增长仍面临重大挑战

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-- 摩根士丹利周四在一份报告中指出，高通(QCOM)预计手机销量将连续第二个季度低于季节性需求，原因是内存需求对中国安卓市场造成了冲击。报告还补充说，随着5G技术的不断成熟，手机增长仍然面临巨大挑战。 高通表示，根据专利费数据和客户反馈，6月份可能是中国安卓市场的底部。然而，由于三星和苹果(AAPL)的市场份额下滑，高通无法确定9月份手机销量是会上升还是下降，而摩根士丹利则预测9月份环比增长将持平。 摩根士丹利指出，高通预计6月份汽车业务同比增长50%，比摩根士丹利的预期高出约7%，这主要得益于周期性增长和在研产品数量的增长。该券商表示，尽管汽车业务占总销售额的不到15%，但其增长势头依然强劲。 报告还指出，高通目前正在寻求定制芯片，但市场已被大型供应商占据。该公司表示，需要更清晰地了解这些成功案例，但在这方面取得的进展至关重要。 摩根士丹利目前预测高通2026年的营收和每股收益分别为401亿美元和9.39美元，2027年的营收和每股收益分别为420亿美元和10.32美元。 摩根士丹利维持对高通的“减持”评级，同时将目标股价从132美元上调至146美元。 高通股价周四上涨近16%。

Price: $181.68, Change: $+25.68, Percent Change: +16.46%

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