TTMI 因在 AI 与国防领域的多元化增长、财务表现加速以及战略性收购而成为具吸引力的投资标的。
逐段跳播
这只股票是TTM Technologies，代码是(TTMI)。这只股票的表现一直远超大盘，但一直很低调，因为大约一周前我们开始就这个话题做进一步研究时，我才第一次听说这家公司。
this stock is "TTM Technologies", and the symbol is (TTMI). This stock has been overwhelmingly outperforming, but it has been doing so quietly, because I had only heard about this company a week ago when we started doing some further research on this topic.
TTM Technologies在过去十二个月里上涨了约120%，从年初到九月中旬上涨了约60%。最重要的是，对吧？与大盘的表现相比，这简直太惊人了。
So, TTM Technologies has risen by about 120% over the past twelve months , and by about 60% from the beginning of the year through mid- September. And most importantly , right?
This is crazy compared to what the general market has achieved .
再说TTM Technologies，我不确定我有没有提到代码，但以防你错过了，代码是(TTMI)。他们所做和专注的是，他们是一家总部位于美国的电子制造服务公司，归类于电子制造服务行业。
Now, TTM Technologies, and I'm not sure if I mentioned the code, but just in case you missed it, the code is (TTMI). Well, what they do and focus on is that they are a US-based electronics manufacturing services company , classified within the electronics manufacturing services sector.
目前市值约为100亿美元，半导体和人工智能市场极其波动。某一天他们的市值可能达到130亿美元，另一天又可能跌到120亿美元。但话说回来，他们真正的重心是印刷电路板。
With a market value of approximately ten billion dollars currently, the semiconductor and artificial intelligence market is extremely volatile. One day their value may reach $13 billion, and another day it may drop to $12 billion.
But again, their real focus is on printed circuit boards.
目前，管理层对两个关键行业非常热情。他们表示，当前的两大趋势是人工智能以及航空与国防领域。该领域现在约占公司总业务的80%。公司在全球拥有约25个制造基地，约19,000名员工，并正在欧洲进一步扩张。
Currently, management is very enthusiastic about two key industries. They stated that the two major trends currently are artificial intelligence and the aviation and defense sector.
This sector now accounts for approximately 80 % of the company's total business . The company has around 25 manufacturing facilities worldwide with approximately 19,000 employees, and is expanding further in Europe.
如果我们看2026年第二季度的营收数据，他们在8月5日、也就是一个多月前公布的，他们称净销售额约为10亿美元。这同比增长了37%。他们在盈利。按照公认会计原则(GAAP)，净利润为8,300万美元，即每股摊薄收益77美分，而一年前为40美分。
因此，我们不仅看到营收在扩张，也看到每股收益在扩张。
If we look at the revenue figures for the second quarter of 2026, which they announced on August 5, just over a month ago, they said net sales were around $1 billion. That was a 37% year-on-year increase.
They are making profits. Net income, according to Generally Accepted Accounting Principles (GAAP), was $83 million, or 77 cents per diluted share, compared with 40 cents a year earlier.
Therefore, we are not only seeing an expansion in revenues , but we are also seeing an expansion in earnings per share .
未来预期是最重要的事情之一，不是吗？关于第三季度展望，公司能够告诉我们，他们预计下一季度营收在11亿美元到11.5亿美元之间，而且这还在不断加速，不是吗？这个故事在加速，人工智能和国防已成为这家公司的积极驱动力。
Future expectations are one of the most important things , aren't they ? Regarding the third quarter outlook , the company was able to tell us that they expect revenues of between $1.1 billion and $1.15 billion for the next quarter, and that just keeps accelerating, doesn't it?
The story accelerates that artificial intelligence and defense have become a positive driving force for this company.
现在他们正在给出全年的营收指引，这才是真正令人兴奋的部分。最初，对于2026年全年，他们预计营收约为40亿美元。现在他们预计营收约为44亿美元，每股收益约为5美元。
And now they are forecasting revenue guidance for the entire year, and that's the really exciting part. Originally, for the full year 2026, they were expecting revenues of around $4 billion.
Now they are expecting revenues of about $4.4 billion and earnings per share of about $5.
最新的增长故事，正如我提到的，是数据中心市场，它占第二季度销售额的40%，同比增长91%。主要原因是，随着我们进入人工智能的故事，为了给所有这些加速器配备印刷电路板，更先进的加速器需要更好的材料和更好的技术，而这正是TTM目前擅长的地方。
The latest growth story, as I mentioned, is the data center market , which accounted for 40% of second-quarter sales and grew by 91% year-over-year. The main reason is that as we get into the story of artificial intelligence, in order to have a printed circuit board for all these accelerators, the more advanced accelerators need better materials and better technologies, and this is where TTM currently excels.
他们还经营医疗、工业和测量仪器领域，这些领域同比增长33%，而航空与国防领域仍是最单一的最大类别，同比增长14%，占总营收的近一半。
They also operate in the medical, industrial and measuring instruments sectors, which grew by 33% year-on-year , and the aviation and defense sector remains the largest single category, growing by 14% year-on-year and accounting for nearly half of total revenues.
总体而言，这是一家我认为是有趣投资机会的公司，而且这是我们在半导体领域不太关注的领域。很多人只是说：“嘿，印刷电路板(PCB)之类的，那是个无聊的领域。”但这个“无聊”的领域表现非常好，提高了他们的财务预期。
Overall, this is a company I see as an interesting investment opportunity , and it's an area we don't look at much in the semiconductor sector. Many simply say: "Hey, printed circuit boards (PCBs) and all that, it's a boring field."
But this "boring" field performed very well, raising their financial expectations.
再说一遍，AI芯片、加速器和电路板都需要印刷电路板。给不了解的人说一下，这些就是印刷电路板。如果你打开任何设备，都会看到一块绿色的板子，上面组装着所有电子元件。这就是印刷电路板的本质，而这正是他们所从事的工作。
所以，在我看来，这是第一个选项的一个非常好的开端，而且正如我提到的，这是一个我们不太谈论的领域，也许随着我们继续看到AI故事中的巨大增长，我们应该多谈谈。随着更多芯片和技术，理论上我们也会需要更多印刷电路板。
Again, AI chips , accelerators, and circuit boards all need printed circuit boards. For those who don't know, these are printed circuit boards. If you open any device, you will see a green board with all the electronic components assembled on it.
This is the essence of the printed canvas , and this is exactly what they work on . So, a very good start to the first option in my opinion, and as I mentioned, it is an area we don't talk about much, and perhaps we should as we continue to see this tremendous growth in the AI story.
With more chips and technologies, theoretically, we will need more printed circuit boards as well.
是的，你知道我对这家公司并不太熟悉，在视频之前我只读过一点关于它的内容。让我觉得有趣的是，这不仅仅是对人工智能的投资。我的意思是，这是一家把增长分散在国防支出和开发AI数据中心之间的公司，所以它不只是一个增长故事。
因此，如果我们看到人工智能资本支出放缓，这项业务还依赖其他增长因素。
Yes, you know that I wasn't very familiar with this company, and I had read a little about it before the video. What makes it interesting to me is that it's not just an investment in artificial intelligence.
I mean, it's a company that distributes its growth between defense spending and developing AI data centers , so it's not just one growth story. So, if we see a slowdown in capital spending on artificial intelligence , there are other growth factors that the business depends on.
还有另一条有趣的新闻：他们最近以约10亿美元收购了一家名为Epic Design Solutions的公司，以扩展到射频(RF)和数字信号处理(DSP)技术，这看起来也是一个非常好的迹象。
我的意思是，他们在实现创纪录的业绩之后宣布了一笔收购交易。这告诉你，管理层相信这个增长故事有强大而持久的基础。如果公司认为好日子即将结束，就不会采取这一步。所以，她现在肯定在我的关注名单上。
There is another interesting piece of news: they recently acquired a company called Epic Design Solutions for approximately $1 billion , to expand into radio frequency (RF) and digital signal processing (DSP) technologies, which also seems like a very good sign.
I mean, they announce an acquisition deal after they achieve record numbers. This tells you that management believes this growth story has a strong and lasting foundation. This is not a step a company would take if it believed the good times were about to end. So, she's definitely on my watchlist now.
这个频道对 $TTMI 的历次判断
The Motley Fool 在这只股票上只有这一条判断。