<p>周五早晨，芯片制造商呈现出两种不同的趋势。英特尔投资者的股票价值损失超过 10%，而先进微电子公司（AMD）的股东则意外获益，因为该股在上午中段上涨了约 3.8%。</p>
<p>这两家公司面临相同的行业条件，并且都在同样的经济环境下运营，但它们的市场反应却完全不同。英特尔在公布初步积极财务结果后，通过声明提供了其解释。</p>
<h2>英特尔在指引上失足</h2>
<p>英特尔发布了积极的财务结果，但未能满足自身的未来预测。英特尔的财务表现评估显示出强劲的结果。该公司实现了 137 亿美元的收入，超出预期 3 亿美元，而其调整后的每股收益达到了 0.15 美元，是华尔街预期的两倍。</p>
<p>然而，当管理层开始审视未来的业务发展时，庆祝活动戛然而止。英特尔预测即将到来的季度将面临困难，因为其 2026 年第一季度的收入可能会降至 117 亿美元，低于前一季度的结果和分析师的预测。</p>
<p>该公司预计将勉强实现盈亏平衡，这将导致再次未能达到财务目标。在英特尔发布未来指引后，投资者纷纷抛售其股票，这进一步增加了对公司未来表现的不确定性。</p>
<h2>AMD 是如何获利的？</h2>
<p>这标志着 AMD 确立其市场地位的时刻。英特尔披露，未来几个月供应短缺将加剧，首席财务官大卫·辛斯纳提到第一季度将是供应水平最低的时期，直到第二季度才会有所改善。英特尔疲弱的供应链系统为公司带来了劣势，同时改变了竞争动态。</p>
<p>随着对人工智能和数据中心芯片需求的上升，其有限的供应意味着客户将寻找替代解决方案，这最终导致价格上涨。对于 AMD 而言，这种情况代表了一种典型的局面，客户将接受其报价。</p>
<p>这一情况为 AMD 提供了一个绝佳的机会来推进其计划。此外，行业内的供应紧张通常意味着能够按时交付芯片的竞争对手将获得更强的利润率。</p>
<h2>AMD 更具吸引力</h2>
<p>AMD 的股市价格超出了预算投资选项的范围。该股的交易市盈率约为 133 倍，这并不便宜，表明投资者对未来表现持乐观态度。</p>
<p>英特尔对其业绩的警告在短期内为 AMD 创造了优势。如果人工智能需求超过英特尔的供应能力，AMD 将从市场份额的增加和更强的定价控制中获益。因此，英特尔的失望结果实际上创造了一场意外的宣传活动，意外地使 AMD 受益。</p>
<h2>总结</h2>
<p>英特尔的指引失误表明，该公司仍在应对生产挑战，这导致投资者选择 AMD 作为他们的首选投资选项。投资者现在将 AMD 视为更可靠的投资选择，因为他们将其与目前面临供应链问题和运营困难的英特尔进行比较。</p>
<p>因此，有时关于一只股票的最有利信息实际上来自其主要竞争对手的公开声明，而不是该股票自身的公告。</p>

英特尔财报，一站看懂！

<p>英特尔的股票在未能满足未来预期的情况下暴跌超过 10%，尽管其财务业绩强劲，而 AMD 的股票则上涨了约 3.8%。英特尔的指引显示 2026 年第一季度将面临挑战，预计收入将下降至 117 亿美元，这引发了投资者的担忧。相比之下，AMD 将从英特尔的供应链问题中受益，因为对人工智能和数据中心芯片的需求正在增加。这种情况使得 AMD 成为一个更具吸引力的投资选择，突显了英特尔的困境无意中为其竞争对手创造了机会</p>

<p>Friday morning displayed two different trends for chip manufacturers. Intel investors lost over 10% in their stock value, while Advanced Micro Devices shareholders received unexpected benefits, as the stock increased approximately 3.8% during the mid-morning period.</p>
<div class="lb-trans"><p>周五早晨，芯片制造商呈现出两种不同的趋势。英特尔投资者的股票价值损失超过 10%，而先进微电子公司（AMD）的股东则意外获益，因为该股在上午中段上涨了约 3.8%。</p>
</div><p>The two companies share identical industry conditions and both operate under the same economic climate, yet their market reactions show complete divergence. Intel provided its explanation through the statements they made after disclosing its initial positive financial results.</p>
<div class="lb-trans"><p>这两家公司面临相同的行业条件，并且都在同样的经济环境下运营，但它们的市场反应却完全不同。英特尔在公布初步积极财务结果后，通过声明提供了其解释。</p>
</div><h2>Intel Trips over its Guidance</h2>
<div class="lb-trans"><h2>英特尔在指引上失足</h2>
</div><p>Intel delivered positive financial results, but it failed to meet its own future projections. Intel’s financial performance evaluation showed strong results. The company generated $13.7 billion in revenue, which exceeded forecasts by $300 million, while its adjusted earnings per share reached $0.15 that is double the amount of what Wall Street expected.</p>
<div class="lb-trans"><p>英特尔发布了积极的财务结果，但未能满足自身的未来预测。英特尔的财务表现评估显示出强劲的结果。该公司实现了 137 亿美元的收入，超出预期 3 亿美元，而其调整后的每股收益达到了 0.15 美元，是华尔街预期的两倍。</p>
</div><p>However, the celebration stopped when the management began to examine future business developments. Intel predicted a difficult upcoming quarter because its Q1 2026 revenue would probably drop to $11.7 billion, which fell short of both previous quarter results and analyst predictions.</p>
<div class="lb-trans"><p>然而，当管理层开始审视未来的业务发展时，庆祝活动戛然而止。英特尔预测即将到来的季度将面临困难，因为其 2026 年第一季度的收入可能会降至 117 亿美元，低于前一季度的结果和分析师的预测。</p>
</div><p>The company expected to reach breakeven barely, which will result in missing its financial targets again. Investors sold their shares after Intel delivered future guidance, which created more uncertainty about the company’s future performance.</p>
<div class="lb-trans"><p>该公司预计将勉强实现盈亏平衡，这将导致再次未能达到财务目标。在英特尔发布未来指引后，投资者纷纷抛售其股票，这进一步增加了对公司未来表现的不确定性。</p>
</div><h2>How Did AMD Gain?</h2>
<div class="lb-trans"><h2>AMD 是如何获利的？</h2>
</div><p>This marks the moment when AMD establishes its presence. Intel disclosed that supply shortages will increase during its upcoming months, and CFO David Zinsner mentioned Q1 as the period of lowest supply levels before Q2 shows any sort of improvement. Intel’s weakened supply chain system creates disadvantages for the company and simultaneously changes competitive dynamics.</p>
<div class="lb-trans"><p>这标志着 AMD 确立其市场地位的时刻。英特尔披露，未来几个月供应短缺将加剧，首席财务官大卫·辛斯纳提到第一季度将是供应水平最低的时期，直到第二季度才会有所改善。英特尔疲弱的供应链系统为公司带来了劣势，同时改变了竞争动态。</p>
</div><p>As the demand for AI and data center chips rises, its limited supply means that the customers will look for alternative solutions, which ultimately results in price increases. For AMD, that situation represents a typical situation, where the customers will accept the offer.</p>
<div class="lb-trans"><p>随着对人工智能和数据中心芯片需求的上升，其有限的供应意味着客户将寻找替代解决方案，这最终导致价格上涨。对于 AMD 而言，这种情况代表了一种典型的局面，客户将接受其报价。</p>
</div><p>The situation creates a perfect opportunity for AMD to proceed with their plans. Also, tighter supply across the industry often translates into stronger margins for competitors that can actually deliver chips on time.</p>
<div class="lb-trans"><p>这一情况为 AMD 提供了一个绝佳的机会来推进其计划。此外，行业内的供应紧张通常意味着能够按时交付芯片的竞争对手将获得更强的利润率。</p>
</div><h2>AMD is More Appealing</h2>
<div class="lb-trans"><h2>AMD 更具吸引力</h2>
</div><p>The AMD stock market price exists beyond the range of budget investment options. The stock trades at approximately 133 times earnings, which is not exactly cheap and it indicates that investors expect positive future performance.</p>
<div class="lb-trans"><p>AMD 的股市价格超出了预算投资选项的范围。该股的交易市盈率约为 133 倍，这并不便宜，表明投资者对未来表现持乐观态度。</p>
</div><p>Intel’s warning about its performance creates advantages for AMD in the short term. AMD will gain from the increased market share and stronger pricing control if the AI demand will exceed Intel’s ability to supply products. So, basically the disappointing results from Intel created such an unintentional campaign that unexpectedly benefited AMD.</p>
<div class="lb-trans"><p>英特尔对其业绩的警告在短期内为 AMD 创造了优势。如果人工智能需求超过英特尔的供应能力，AMD 将从市场份额的增加和更强的定价控制中获益。因此，英特尔的失望结果实际上创造了一场意外的宣传活动，意外地使 AMD 受益。</p>
</div><h2>Bottom Line</h2>
<div class="lb-trans"><h2>总结</h2>
</div><p>Intel’s guidance failure showed that the company continued to deal with production challenges, which led investors to choose AMD as their preferred investment option. Investors now see AMD as a more reliable investment option because they compare it to Intel, which currently struggles with supply chain problems and operational difficulties.</p>
<div class="lb-trans"><p>英特尔的指引失误表明，该公司仍在应对生产挑战，这导致投资者选择 AMD 作为他们的首选投资选项。投资者现在将 AMD 视为更可靠的投资选择，因为他们将其与目前面临供应链问题和运营困难的英特尔进行比较。</p>
</div><p>So, sometimes the most beneficial information about a stock actually comes from its main competitor’s public statements rather than the stocks own announcements.</p>
<div class="lb-trans"><p>因此，有时关于一只股票的最有利信息实际上来自其主要竞争对手的公开声明，而不是该股票自身的公告。</p>
</div>

How Intel’s Bad News Turned Into a Winning Situation for AMD?

- 英特尔股价下跌超过 10%，预计 Q1 营收降至 117 亿美元。  
- AMD 股价上涨约 3.8%，受益于英特尔供应短缺的局面。  
- 投资者因英特尔前景不佳，转向 AMD 作为更可靠的投资选择。

英特尔的坏消息如何转化为 AMD 的有利局面？