SemiVoice

seekingalpha

03/21/2025, 08:10 AM UTC

微软：宽护城河还不够Microsoft: A Wide Moat Is Not Enough

1、尽管从历史高点下跌了20%，但微软仍面临高估值倍数和下行风险；2、当前经济周期和高估值倍数表明应保持谨慎；3、微软在AI和云服务领域的持续增长前景看好，但高资本支出和潜在的经济衰退需要谨慎对待。

1. Despite a 20% decline from all-time highs, Microsoft faces high valuation multiples and downside risks; 2. The current economic cycle and high valuation multiples signal caution; 3. Microsoft's consistent growth in AI and cloud is promising, but high CapEx and potential economic downturns warrant caution.

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