After ASML Rocks AI Hardware Names, Gene Munster Explains Why It's 'Overreaction:' 'AI Trade Is On Track'
After ASML Rocks AI Hardware Names, Gene Munster Explains Why It's 'Overreaction:' 'AI Trade Is On Track'
Munster noted that ASML clarified that the weakness was not related to AI, but rather to other areas in logic, a slower-than-expected ramp in memory capacity additions, and weakening China demand for the company's Immersion systems.Dutch chip-equipment maker ASML Holdings N.V.'s (NASDAQ:ASML) smaller-than-expected bookings for the third quarter and guidance cut sent shares of companies with exposure to artificial intelligence lower on Tuesday.
荷兰芯片设备制造商ASML Holdings N.V.s（纳斯达克股票代码：ASML）第三季度的预订量低于预期，指导方针的削减使有人工智能敞口的公司的股价在周二走低。
Overreaction: ASML guiding 2025 revenue led to an overreaction by the broader AI hardware sector, which fell 4.5% on Tuesday compared to Nasdaq's 1.2% fall, said Deepwater Asset Management's Gene Munster.
反应过度：深水资产管理公司的吉恩·芒斯特表示，ASML对2025年收入的预测导致了更广泛的人工智能硬件行业的过度反应，该行业周二下跌了4.5％，而纳斯达克的跌幅为1.2％。
Only about 10% of ASML's revenue could be attributable to AI demand, the tech venture capitalist said. He estimates that about 40% of the company's revenue comes from its extreme ultraviolet, or EUV, lithography machines which are required for AI chip production. Assuming these machines produce AI-related chips 25% of the time, 10% of the overall business can be attributed to AI, he said.
这位科技风险投资家表示，ASML收入中只有大约10％可以归因于人工智能需求。他估计，该公司约40％的收入来自其人工智能芯片生产所需的极紫外线或EUV光刻机。他说，假设这些机器有25％的时间生产与人工智能相关的芯片，那么整个业务的10％可以归因于人工智能。
Munster noted that ASML clarified that the weakness was not related to AI, but rather to other areas in logic, a slower-than-expected ramp in memory capacity additions, and weakening China demand for the company's Immersion systems.
芒斯特指出，ASML澄清说，该弱点与人工智能无关，而是与逻辑的其他领域有关，内存容量增加的增长速度低于预期，以及中国对该公司沉浸式系统的需求减弱。
"The AI trade is on track," he added.
他补充说：“人工智能交易已步入正轨。”
Why It's Important: Optimism regarding AI technology has abounded since OpenAI's AI chatbot ChatGPT gained prominence, and chipmaker Nvidia Corp. (NASDAQ:NVDA) has emerged as the poster child of the AI revolution. Although most analysts see the AI bubble lasting through three to five years, investors have become wary about the stretched valuations of some of these stocks, especially due to the heavy investments companies are forced to make upfront before they begin to reap the rewards.
为何重要：自从OpenAI的人工智能聊天机器人ChatGPT获得突出地位以来，人们对人工智能技术的乐观情绪比比皆是，芯片制造商英伟达公司（纳斯达克股票代码：NVDA）已成为人工智能革命的典范。尽管大多数分析师认为人工智能泡沫将持续三到五年，但投资者对其中一些股票的估值紧张持谨慎态度，尤其是因为巨额投资公司在开始获得回报之前被迫预先弥补。
Wedbush's Daniel Ives said in a note published on Tuesday that he expects a tidal wave of enterprise spending as AI use cases explode across the enterprise. "We believe the overall AI infrastructure market opportunity could grow 10x from today through 2027 as this next generation AI foundation gets," the analyst said. He estimates a $1 trillion of AI cap-ex spending is on the horizon over the next 3 years
Wedbush的丹尼尔·艾夫斯在周二发布的一份报告中表示，随着人工智能用例在整个企业中激增，他预计企业支出将激增。该分析师表示：“我们认为，随着下一代人工智能基础的建立，从今天到2027年，整个人工智能基础设施的市场机会可能会增长10倍。”他估计，未来3年将有1万亿美元的人工智能资本支出支出
The Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ) fell 1.76% to $37.42 on Tuesday, according to Benzinga Pro data.
根据Benzinga Pro的数据，Global X人工智能与科技ETF（纳斯达克股票代码：AIQ）周二下跌1.76％，至37.42美元。
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Image via Shutterstock
图片来自 Shutterstock
