<ul>
<li>在最近几周，安霸报告了创纪录的收入，并将全年增长指引上调至最高 38%，然而在 11 月底的财报发布后，其股价却出现下跌，投资者反应谨慎。</li>
<li>这种强劲的运营势头与疲软的短期情绪之间的紧张关系突显了市场认知如何在当前主导安霸前景的讨论，而不仅仅是基本面。</li>
<li>接下来，我们将探讨这种强劲的收入指引与谨慎的市场情绪之间的脱节如何重塑安霸的投资叙事。</li>
</ul>
<p>特朗普的石油繁荣来了——管道准备好获利。发现 22 只乘风破浪的美国股票。</p>
<h2>安霸投资叙事回顾</h2>
<p>要拥有安霸的股票，你需要相信其边缘 AI 芯片能够将强劲的收入增长转化为可持续的盈利，尽管目前仍在亏损并依赖物联网。近期在创纪录收入和上调增长指引后出现的抛售似乎对情绪的影响大于核心催化因素，而核心因素仍然是高利润率 5 纳米 AI SoC 的提升。我认为，近期最大的风险是研发和运营成本的上升继续超过收入，延迟任何盈利的路径。</p>
<p>2025 年 11 月 25 日的财报发布，管理层将全年收入增长指引上调至 36% 至 38%，在这个背景下尤为重要。它强调了安霸的边缘 AI 产品的需求仍在增长，即使股价急剧修正，这使得人们更加关注公司能否快速扩大这些设计胜利，以抵消高昂的运营费用和对物联网驱动收入的重度依赖。</p>
<p>然而，投资者还应考虑，快速上升的运营费用和持续的亏损可能会限制安霸在需求疲软时期的灵活性，以及...</p>
<p>阅读安霸的完整叙事（免费！）</p>
<p>安霸的叙事预计到 2028 年收入为 5.263 亿美元，盈利为 7430 万美元。这需要每年 14.8% 的收入增长，以及从今天的-8860 万美元增加到 1.629 亿美元的盈利。</p>
<p>揭示安霸的预测如何得出 98.09 美元的公允价值，相较于当前价格有 35% 的上涨空间。</p>
<h2>探索其他观点</h2>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d8b3563d-5867-4157-91ab-989dc69d362c/chart/quote-price?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://images.simplywall.st/company/d8b3563d-5867-4157-91ab-989dc69d362c/chart/quote-price"/></p>
<p>AMBA 1 年股票价格图表</p>
<p>Simply Wall St 社区的七位成员对安霸的估值在每股 31.03 美元到 105 美元之间，观点分布在整个范围内。考虑到当前对研发和运营成本上升可能使公司多年无法盈利的担忧，可以理解在形成自己观点之前审视多个视角是有益的。</p>
<p>探索安霸的其他 7 个公允价值估计——为什么该股票可能比当前价格高出多达 45%！</p>
<h2>构建你自己的安霸叙事</h2>
<p>不同意现有叙事？在 3 分钟内创建你自己的——非凡的投资回报往往不是来自随大流。</p>
<ul>
<li>进行安霸研究的一个很好的起点是我们的分析，强调了可能影响你投资决策的 2 个关键奖励和 2 个重要警示信号。</li>
<li>我们的免费安霸研究报告提供了全面的基本面分析，汇总在一个视觉图表——雪花图，使你能够一目了然地评估安霸的整体财务健康状况。</li>
</ul>
<h2>准备好探索其他投资风格了吗？</h2>
<p>市场不会等待。这些快速发展的股票现在很热门。在它们上涨之前抓住名单：</p>
<ul>
<li>稀土金属是新的淘金热。找出哪些 34 只股票在引领潮流。</li>
<li>AI 即将改变医疗保健。这 29 只股票正在从早期诊断到药物发现等各个方面进行研发。最棒的是——它们的市值都在 100 亿美元以下——仍然有机会提前入场。</li>
<li>癌症的终结？这 29 只新兴 AI 股票正在开发技术，以便早期识别癌症和阿尔茨海默病等改变生活的疾病。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，采用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑你的目标或财务状况。我们的目标是为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
<p>移动基础设施用于国防和灾难</p>
<p>下一波机器人革命不是人形机器人。它是能够在 30 分钟内提供 5G、ISR 和雷达的全自动塔，随处可用。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

安霸

<p>安霸报告了创纪录的收入，并将全年增长指引上调至 38%，但由于市场情绪谨慎，其股价下跌。尽管运营势头强劲，但对研发和运营成本上升影响盈利能力的担忧依然存在。公司的未来取决于扩大其边缘人工智能芯片的规模，以抵消高昂的开支。安霸的叙述预计到 2028 年将实现显著的收入和盈利增长，公允价值估计显示有 35% 的上涨空间。建议投资者在做出决策之前考虑多种视角和潜在风险</p>

<ul>
<li>In recent weeks, Ambarella reported record revenue and raised full-year growth guidance to as much as 38%, yet its shares sold off following the late-November earnings release as investors reacted cautiously.</li>
<li>This tension between strong operational momentum and weak short-term sentiment highlights how market perception, rather than fundamentals alone, is currently steering the debate around Ambarella’s outlook.</li>
<li>Next, we’ll examine how this disconnect between robust revenue guidance and cautious market sentiment may reshape Ambarella’s investment narrative.</li>
</ul>
<div class="lb-trans"><ul>
<li>在最近几周，安霸报告了创纪录的收入，并将全年增长指引上调至最高 38%，然而在 11 月底的财报发布后，其股价却出现下跌，投资者反应谨慎。</li>
<li>这种强劲的运营势头与疲软的短期情绪之间的紧张关系突显了市场认知如何在当前主导安霸前景的讨论，而不仅仅是基本面。</li>
<li>接下来，我们将探讨这种强劲的收入指引与谨慎的市场情绪之间的脱节如何重塑安霸的投资叙事。</li>
</ul>
</div><p>Trump's oil boom is here - pipelines are primed to profit. Discover the 22 US stocks riding the wave.</p>
<div class="lb-trans"><p>特朗普的石油繁荣来了——管道准备好获利。发现 22 只乘风破浪的美国股票。</p>
</div><h2>Ambarella Investment Narrative Recap</h2>
<div class="lb-trans"><h2>安霸投资叙事回顾</h2>
</div><p>To own Ambarella, you need to believe its edge AI chips can convert strong revenue growth into sustainable profitability despite current losses and IoT dependence. The recent selloff after record revenue and raised growth guidance seems to affect sentiment more than the core catalyst, which remains the ramp of higher margin 5 nm AI SoCs. The biggest near term risk, in my view, is that rising R&amp;D and operating costs continue to outpace revenue and delay any path to profits.</p>
<div class="lb-trans"><p>要拥有安霸的股票，你需要相信其边缘 AI 芯片能够将强劲的收入增长转化为可持续的盈利，尽管目前仍在亏损并依赖物联网。近期在创纪录收入和上调增长指引后出现的抛售似乎对情绪的影响大于核心催化因素，而核心因素仍然是高利润率 5 纳米 AI SoC 的提升。我认为，近期最大的风险是研发和运营成本的上升继续超过收入，延迟任何盈利的路径。</p>
</div><p>The earnings release on 25 November 2025, where management lifted full year revenue growth guidance to 36% to 38%, matters most in this context. It underlines that demand for Ambarella’s edge AI products is still building even as the share price corrects sharply, putting more focus on whether the company can scale these design wins fast enough to offset high operating expenses and its heavy reliance on IoT-driven revenue.</p>
<div class="lb-trans"><p>2025 年 11 月 25 日的财报发布，管理层将全年收入增长指引上调至 36% 至 38%，在这个背景下尤为重要。它强调了安霸的边缘 AI 产品的需求仍在增长，即使股价急剧修正，这使得人们更加关注公司能否快速扩大这些设计胜利，以抵消高昂的运营费用和对物联网驱动收入的重度依赖。</p>
</div><p>Yet investors should also weigh how quickly rising OpEx and persistent losses could limit Ambarella’s flexibility in a tougher demand patch and...</p>
<div class="lb-trans"><p>然而，投资者还应考虑，快速上升的运营费用和持续的亏损可能会限制安霸在需求疲软时期的灵活性，以及...</p>
</div><p>Read the full narrative on Ambarella (it's free!)</p>
<div class="lb-trans"><p>阅读安霸的完整叙事（免费！）</p>
</div><p>Ambarella's narrative projects $526.3 million revenue and $74.3 million earnings by 2028. This requires 14.8% yearly revenue growth and a $162.9 million earnings increase from -$88.6 million today.</p>
<div class="lb-trans"><p>安霸的叙事预计到 2028 年收入为 5.263 亿美元，盈利为 7430 万美元。这需要每年 14.8% 的收入增长，以及从今天的-8860 万美元增加到 1.629 亿美元的盈利。</p>
</div><p>Uncover how Ambarella's forecasts yield a $98.09 fair value, a 35% upside to its current price.</p>
<div class="lb-trans"><p>揭示安霸的预测如何得出 98.09 美元的公允价值，相较于当前价格有 35% 的上涨空间。</p>
</div><h2>Exploring Other Perspectives</h2>
<div class="lb-trans"><h2>探索其他观点</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d8b3563d-5867-4157-91ab-989dc69d362c/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/d8b3563d-5867-4157-91ab-989dc69d362c/chart/quote-price"/></p>
<p>AMBA 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>AMBA 1 年股票价格图表</p>
</div><p>Seven members of the Simply Wall St Community value Ambarella anywhere between US$31.03 and US$105 per share, with views spread across the entire range. Set that against the current concern that rising R&amp;D and operating costs may keep the company unprofitable for years, and you can see why it pays to review multiple viewpoints before forming your own.</p>
<div class="lb-trans"><p>Simply Wall St 社区的七位成员对安霸的估值在每股 31.03 美元到 105 美元之间，观点分布在整个范围内。考虑到当前对研发和运营成本上升可能使公司多年无法盈利的担忧，可以理解在形成自己观点之前审视多个视角是有益的。</p>
</div><p>Explore 7 other fair value estimates on Ambarella - why the stock might be worth as much as 45% more than the current price!</p>
<div class="lb-trans"><p>探索安霸的其他 7 个公允价值估计——为什么该股票可能比当前价格高出多达 45%！</p>
</div><h2>Build Your Own Ambarella Narrative</h2>
<div class="lb-trans"><h2>构建你自己的安霸叙事</h2>
</div><p>Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.</p>
<div class="lb-trans"><p>不同意现有叙事？在 3 分钟内创建你自己的——非凡的投资回报往往不是来自随大流。</p>
</div><ul>
<li>A great starting point for your Ambarella research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.</li>
<li>Our free Ambarella research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Ambarella's overall financial health at a glance.</li>
</ul>
<div class="lb-trans"><ul>
<li>进行安霸研究的一个很好的起点是我们的分析，强调了可能影响你投资决策的 2 个关键奖励和 2 个重要警示信号。</li>
<li>我们的免费安霸研究报告提供了全面的基本面分析，汇总在一个视觉图表——雪花图，使你能够一目了然地评估安霸的整体财务健康状况。</li>
</ul>
</div><h2>Ready To Venture Into Other Investment Styles?</h2>
<div class="lb-trans"><h2>准备好探索其他投资风格了吗？</h2>
</div><p>The market won't wait. These fast-moving stocks are hot now. Grab the list before they run:</p>
<div class="lb-trans"><p>市场不会等待。这些快速发展的股票现在很热门。在它们上涨之前抓住名单：</p>
</div><ul>
<li>Rare earth metals are the new gold rush. Find out which 34 stocks are leading the charge.</li>
<li>AI is about to change healthcare. These 29 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.</li>
<li>The end of cancer? These 29 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer's.</li>
</ul>
<div class="lb-trans"><ul>
<li>稀土金属是新的淘金热。找出哪些 34 只股票在引领潮流。</li>
<li>AI 即将改变医疗保健。这 29 只股票正在从早期诊断到药物发现等各个方面进行研发。最棒的是——它们的市值都在 100 亿美元以下——仍然有机会提前入场。</li>
<li>癌症的终结？这 29 只新兴 AI 股票正在开发技术，以便早期识别癌症和阿尔茨海默病等改变生活的疾病。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，采用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑你的目标或财务状况。我们的目标是为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>移动基础设施用于国防和灾难</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波机器人革命不是人形机器人。它是能够在 30 分钟内提供 5G、ISR 和雷达的全自动塔，随处可用。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 赞助</p>
</div>

安霸（AMBA）的乐观预期可能会因创纪录的收入和市场的谨慎反应而发生变化