美国硬件科技股遭抛售，股价下跌

Core Viewpoint - The hardware technology sector is experiencing significant stock sell-offs and declining share prices due to reduced corporate spending amid economic uncertainty and rising component costs [1][3]. Group 1: Market Performance - Major hardware companies such as NetApp, HP, Dell, and Logitech have seen their stock prices drop significantly, with NetApp falling over 9% [1]. - Morgan Stanley downgraded the hardware technology sector's rating, indicating a slowdown in demand as companies cut back on hardware spending [3]. Group 2: Economic Outlook - A Morgan Stanley report warns of a "perfect storm" due to slowing demand, rising input cost inflation, and overvaluation, leading to a more defensive strategy until 2026 [3]. - The latest survey indicates that hardware technology budget growth for 2026 is expected to be only 1% year-over-year, marking the weakest growth in nearly 15 years, excluding the pandemic period [3]. Group 3: Corporate Sentiment - According to the International Workplace Group's 2026 Corporate Executive Outlook report, 95% of CEOs remain optimistic about 2026, emphasizing the importance of cost control [3]. - CFO surveys reveal that companies are planning to cut their 2026 budgets by an average of 10% to enhance operational efficiency through AI and flexible work solutions [3]. Group 4: Consumer Behavior - A separate Morgan Stanley survey indicates that if component inflation continues, 30% to 60% of customers may reduce their planned purchases of PCs, servers, and storage devices [4]. - Higher costs and fluctuating demand increase the risk of downward adjustments in profit expectations for 2026 [5]. Group 5: Industry Trends - Citigroup analysts note that hardware companies and distributors face challenges from fluctuating enterprise demand, rising memory costs, and a projected decline in PC shipments for 2026 [6]. - IDC forecasts a potential decline in PC shipments of up to 9% in 2026, with a moderate scenario predicting a 5% contraction [6]. - The current industry landscape may lead to further market share concentration among leading manufacturers like Dell, HP, Lenovo, and ASUS, which are better positioned to withstand market pressures compared to smaller brands [6].