<p><strong>英特尔</strong>(INTC 5.15%) 的股票在周三表现优异，股价一度上涨 5.6%，截至今天中午 12:08 回落至 3.2% 的涨幅，因大盘出现下跌。</p>
<p>过去一个月，英特尔的股票表现强劲，此前美国政府、<strong>软银</strong> 以及 <strong>英伟达</strong> 均对这家芯片制造商进行了投资，给予其急需的信心支持，以推动其至关重要的 18A 节点的进展。</p>
<p>今天，该公司又收到了来自另一外部方的好消息，<strong>美光</strong> 昨晚公布了其第四季度的财报。</p>
<h2>美光上调个人电脑和传统服务器的预期</h2>
<p>在昨晚的财报电话会议上，美光管理层上调了对某些终端市场的预期，这些市场对英特尔至关重要：个人电脑（PC）和传统服务器。</p>
<p>美光首席执行官 Sanjay Mehrotra 表示，传统服务器市场 “显著增强”，美光现在预测 2025 年将实现中个位数的增长，此前预测为单位增长持平，这一变化相当显著。</p>
<p>英特尔因错过图形处理单元的 AI 服务器市场而受到批评，该市场仍如预期般蓬勃发展。但英特尔在企业传统服务器领域仍然是强有力的领导者，这是 Mehrotra 在此描述的子细分市场。</p>
<p>看起来，经过几年的低迷，商业可能正在复苏。大约一年前，英特尔与 <strong>亚马逊</strong> 合作，为亚马逊的智能 AI 和推理目标定制了一款 Xeon 中央处理器（CPU）。这一合作关系可能在第三和第四季度迎来大量增长。</p>
<p>美光还上调了对个人电脑的预期，个人电脑是英特尔最大的细分市场，英特尔在基于 x86 的个人电脑中仍占有约 76% 的市场份额。Mehrotra 表示，Windows 10 的生命周期结束（将在十月发生）以及 AI 个人电脑的普及，正在推动 2025 年个人电脑市场的预期好于预期。美光现在预计该市场将实现中个位数的增长，而之前预测为低个位数。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ5NjAvZ2V0dHlpbWFnZXMtMTQ4OTEyMjIyMi5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ5NjAvZ2V0dHlpbWFnZXMtMTQ4OTEyMjIyMi5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>更强的终端市场可能是英特尔走向更好时光的桥梁</h2>
<p>第四季度将是英特尔在个人电脑市场首次销售其 Panther Lake CPU，并且将是该公司在其 18A 节点上生产的首款芯片。该节点是公司在 2021 年宣布的 “五个节点四年” 战略的最终成果，管理层相信其技术将再次与 <strong>台湾半导体制造公司</strong> 竞争。</p>
<p>因此，如果英特尔能够在更强的个人电脑市场中销售 Panther Lake CPU，并且收入高于预期，这将为公司提供更多的财务桥梁，以便明年实现 18A 的高产量制造。如果公司财务状况更强，它就能负担得起扩大 18A 的投资，并可能吸引更多第三方代工客户，涵盖 18A 和计划于 2028 年推出的 14A 节点。</p>

英特尔

<p>英特尔的股票在强劲表现后上涨了 3.2%，受到美国政府、软银和英伟达投资的推动。美光的积极财报提升了对个人电脑和传统服务器的预期，这些都是英特尔的重要市场。美光预测这些领域在 2025 年将实现中个位数的增长，高于之前的预期。英特尔即将推出的 Panther Lake CPU 将在其新的 18A 工艺下生产，可能会利用这一市场优势，从而改善财务稳定性并进一步投资于技术</p>

<p>Shares of <strong>Intel</strong>(INTC 5.15%) were outperforming on Wednesday, with the stock up as much as 5.6% before pulling back to a 3.2% gain as of 12:08 p.m. today as the broader market sold off.</p>
<div class="lb-trans"><p><strong>英特尔</strong>(INTC 5.15%) 的股票在周三表现优异，股价一度上涨 5.6%，截至今天中午 12:08 回落至 3.2% 的涨幅，因大盘出现下跌。</p>
</div><p>Intel shares have been on a tear over the past month, after the U.S. government, <strong>SoftBank</strong>, and then <strong>Nvidia</strong> all invested in the chipmaker, giving it much-needed votes of confidence as it ramps up its all-important 18A node.</p>
<div class="lb-trans"><p>过去一个月，英特尔的股票表现强劲，此前美国政府、<strong>软银</strong> 以及 <strong>英伟达</strong> 均对这家芯片制造商进行了投资，给予其急需的信心支持，以推动其至关重要的 18A 节点的进展。</p>
</div><p>Then today, the company got even better news from another outside party in the form of <strong>Micron</strong>, which announced its fourth-quarter earnings last night.</p>
<div class="lb-trans"><p>今天，该公司又收到了来自另一外部方的好消息，<strong>美光</strong> 昨晚公布了其第四季度的财报。</p>
</div><h2>Micron lifts guidance for PCs and traditional servers</h2>
<div class="lb-trans"><h2>美光上调个人电脑和传统服务器的预期</h2>
</div><p>On its earnings call last night, Micron management lifted guidance for certain end markets that are of utmost importance to Intel: personal computers (PCs) and traditional servers.</p>
<div class="lb-trans"><p>在昨晚的财报电话会议上，美光管理层上调了对某些终端市场的预期，这些市场对英特尔至关重要：个人电脑（PC）和传统服务器。</p>
</div><p>Micron CEO Sanjay Mehrotra said that the traditional-server market had &#34;strengthened significantly,&#34; with Micron now predicting growth in the mid-single digits for 2025 after previously forecasting flat unit growth, which is a significant change.</p>
<div class="lb-trans"><p>美光首席执行官 Sanjay Mehrotra 表示，传统服务器市场 “显著增强”，美光现在预测 2025 年将实现中个位数的增长，此前预测为单位增长持平，这一变化相当显著。</p>
</div><p>Intel has been criticized for missing out on the AI server market for graphics processing units, which is still going like gangbusters, as expected. But Intel is still a strong leader in enterprise traditional servers, which is the sub-segment Mehrotra described here.</p>
<div class="lb-trans"><p>英特尔因错过图形处理单元的 AI 服务器市场而受到批评，该市场仍如预期般蓬勃发展。但英特尔在企业传统服务器领域仍然是强有力的领导者，这是 Mehrotra 在此描述的子细分市场。</p>
</div><p>It appears that business may be waking up after a few down years. About a year ago, Intel partnered with <strong>Amazon</strong> to make a custom Xeon central processing unit (CPU) for Amazon's agentic AI and inference ambitions. That partnership could see a lot of growth in the third and fourth quarters as a result.</p>
<div class="lb-trans"><p>看起来，经过几年的低迷，商业可能正在复苏。大约一年前，英特尔与 <strong>亚马逊</strong> 合作，为亚马逊的智能 AI 和推理目标定制了一款 Xeon 中央处理器（CPU）。这一合作关系可能在第三和第四季度迎来大量增长。</p>
</div><p>Micron also lifted its outlook for PCs, which make up Intel's largest segment and where it still has about 76% market share of x86-based PCs. Mehrotra said that the Windows 10 end-of-life, which is occurring in October, as well as the adoption of AI PCs, are spurring a better-than-expected outlook for the PC market in 2025. Micron now sees this market up in the mid-single digits, compared with low single digits previously.</p>
<div class="lb-trans"><p>美光还上调了对个人电脑的预期，个人电脑是英特尔最大的细分市场，英特尔在基于 x86 的个人电脑中仍占有约 76% 的市场份额。Mehrotra 表示，Windows 10 的生命周期结束（将在十月发生）以及 AI 个人电脑的普及，正在推动 2025 年个人电脑市场的预期好于预期。美光现在预计该市场将实现中个位数的增长，而之前预测为低个位数。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ5NjAvZ2V0dHlpbWFnZXMtMTQ4OTEyMjIyMi5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F834960%2Fgettyimages-1489122222.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Stronger end markets could be Intel's bridge to better times</h2>
<div class="lb-trans"><h2>更强的终端市场可能是英特尔走向更好时光的桥梁</h2>
</div><p>The fourth quarter will see the first sales of Intel's Panther Lake CPU for the PC market, and will be the company's first chip produced on its 18A node. That node is the culmination of the company's &#34;five nodes in four years&#34; strategy announced in 2021, in which management believed its technology would become competitive with <strong>Taiwan Semiconductor Manufacturing</strong> once again.</p>
<div class="lb-trans"><p>第四季度将是英特尔在个人电脑市场首次销售其 Panther Lake CPU，并且将是该公司在其 18A 节点上生产的首款芯片。该节点是公司在 2021 年宣布的 “五个节点四年” 战略的最终成果，管理层相信其技术将再次与 <strong>台湾半导体制造公司</strong> 竞争。</p>
</div><p>So if Intel can sell Panther Lake CPUs into a stronger PC market and revenue comes in higher than expected, that will give the company more of a financial bridge to 18A high-volume manufacturing next year. And if the company is stronger financially, it can afford to invest in expanding 18A, and potentially attract more third-party foundry customers for both 18A and the upcoming 14A node, which is scheduled for 2028.</p>
<div class="lb-trans"><p>因此，如果英特尔能够在更强的个人电脑市场中销售 Panther Lake CPU，并且收入高于预期，这将为公司提供更多的财务桥梁，以便明年实现 18A 的高产量制造。如果公司财务状况更强，它就能负担得起扩大 18A 的投资，并可能吸引更多第三方代工客户，涵盖 18A 和计划于 2028 年推出的 14A 节点。</p>
</div>

Why Intel Stock Is Rallying Again Today

- 英特尔股价在周三上涨，最高涨幅达 5.6%。  
- 美政府、软银和英伟达对其投资，增强市场信心。  
- 美光提升对个人电脑和传统服务器市场的预期，利好英特尔。

为什么英特尔的股票今天再次上涨