跌近15%！寒王遇「茅台魔咒」，这只是开始？

Core Viewpoint - The concept of "Moutai Curse" suggests that any company's stock price exceeding Moutai will subsequently decline, with Cambricon being the latest challenger to this notion after its stock price surged tenfold over the past year, reaching 1465 yuan on August 27, only to drop significantly thereafter [1][2]. Group 1: Historical Context - Over the past eight years, no company has surpassed Moutai's stock price until Cambricon, which briefly held the title of A-share king [1]. - Historically, 14 companies have exceeded Moutai's stock price, primarily around 2015, coinciding with the last major bull market and the impending burst of the mobile internet bubble [1][3]. Group 2: Stock Performance Analysis - Among the 14 companies that surpassed Moutai, half experienced a decline within one month, and five of these were in a downward trend within a year [2][3]. - The average PE ratio of these 14 companies was 232, while Cambricon's PE ratio reached an extreme 514, indicating a significant overvaluation [6][8]. Group 3: Market Sentiment and Risks - The surge in Cambricon's stock price is attributed to the current AI market frenzy, drawing parallels to the mobile internet bubble [7]. - Concerns are rising regarding the sustainability of the AI bubble, with Cambricon's stock price showing a pattern similar to those companies affected by the "Moutai Curse" [8][9]. - As of September 4, Cambricon's stock price fell by 14.45% to 1202 yuan, while Moutai's price remained relatively stable at 1472.7 yuan [9].