The biggest change in this year's earnings season isn't performance, but valuation.
Hynix's profits surged by 557%, yet its stock price plummeted; Microsoft and Meta soared, while Apple, Amazon, Qualcomm, and Arm face stricter scrutiny.
The market has entered the **“AI 2.0 era”**:
In the past, growth was enough; now, growth must consistently exceed expectations.
Stock prices are no longer trading on today's profits, but on the growth slope of the next two to three years.
Therefore, good earnings ≠ rising stock prices; beating expectations may not be enough either.
When everyone believes in AI, what truly determines stock prices is no longer performance, but who can continue to raise market expectations.
[Prize] Super Earnings Week 48 Hours: We're collecting your one-line sharp review!
The Big Six released their results one after another within 48 hours, with maxed-out divergence between bulls and bears. Share your verdict in one sentence for a chance to win a prize for the best comment!
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
