美国硬件科技股遭大幅抛售

Group 1 - The core viewpoint of the article highlights a significant downturn in the hardware technology sector, with major companies experiencing substantial stock price declines due to reduced corporate spending amid economic uncertainty and rising component costs [3] - Morgan Stanley downgraded the hardware technology industry rating, warning of a "perfect storm" formed by slowing demand, rising input cost inflation, and overvaluation, leading to a more defensive strategy until 2026 [3][6] - The latest survey by Morgan Stanley indicates that hardware technology budget growth for 2026 is expected to be only 1% year-on-year, marking the weakest growth in nearly 15 years, excluding the pandemic period [3] Group 2 - According to the International Workplace Group's 2026 Corporate Executive Outlook Report, 95% of CEOs are optimistic about 2026, but all surveyed CEOs believe cost control is crucial, with an average budget cut of 10% planned by CFOs [4] - Companies are actively leveraging AI and flexible working solutions to enhance operational efficiency and unlock investment potential [4] - A separate Morgan Stanley survey revealed that if component inflation continues, 30% to 60% of customers may reduce their planned purchases of PCs, servers, and storage devices [5] Group 3 - Morgan Stanley stated that higher costs and elastic demand increase the risk of downward adjustments in profit expectations for 2026 [6] - Citigroup analysts noted that hardware companies and distributors face fluctuations in corporate demand, rising memory costs, and a decline in PC shipments for 2026 [6] - IDC's recent market outlook predicts a potential decline of up to 9% in PC shipments for 2026, with a moderate scenario indicating a shrinkage of 5% [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 regional brands and white-box manufacturers [6]