MSFT因高资本支出受到负面影响，芯片折旧拖累每股收益和自由现金流。
逐段跳播
像亚马逊、谷歌、McDougall、Meta这样的大型科技公司正在大量借贷以建设数据中心和资助人工智能基础设施。
Massive tech companies like Amazon, Google, McDougall, Meta are borrowing heavily to build data centers and finance artificial intelligence infrastructure.
英伟达、苹果、微软、亚马逊、谷歌、McDougall、SpaceX、博通、Meta、特斯拉、马斯克、美光、沃尔玛，对吧？就是那11家公司。
Nvidia, Apple, Mr. softy Microsoft, Amazing Zon, Google, McDougall, SpaceX, Broadcom, Meta, Tesla, Masla, Micron, and Walmart, right? Those 11 companies right there.
微软有资本支出问题。记住，当我们谈论这些公司在资本支出上花这么多钱时，不仅仅是“哦，他们花了这么多钱，所以他们不能做股票回购，不能收购其他公司”之类的。而是他们花了这么多钱，你必须对这些芯片进行五到六年的折旧。
所以这会严重损害你的每股收益。你的自由现金流就没了。这就是人们过去买这些股票的原因。每个人都买这些股票是因为这些公司有最疯狂的自由现金流，他们回购大量股票，盈利能力不断上升。现在你不能指望这些了。
情况已经反过来了。所以现在你的理由是收入增长。谷歌McDougall的资本支出问题。
Microsoft has capex problems. And remember, when we talk about these companies spending all this money on capex, it's not just, oh, they're spending so much money, so they can't do share buybacks. They can't buy out other companies, things like that. It's they're spending so much money, you have to depreciate those chips over five to six years. So that hurts your earnings per share massively. And your free cash flow goes bye-bye. And that's what everybody used to buy these stocks for. Everybody bought these stocks because it was like, these companies have the most insane free cash flow. They buy back a ton of shares and their profitability just goes up and up and up. You can't you can't count on any of that now. It's gone the opposite way. So now your case is well revenue growth. Google McDougall capex problems.
这个频道对 $MSFT 的历次判断
Financial Education 在这只股票上只有这一条判断。