{"id":771231,"date":"2026-04-30T07:36:41","date_gmt":"2026-04-29T23:36:41","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=771231"},"modified":"2026-04-30T07:36:41","modified_gmt":"2026-04-29T23:36:41","slug":"%e9%ab%98%e9%80%9a%e8%90%a5%e6%94%b6106%e4%ba%bf%e7%be%8e%e5%85%83%e5%90%8c%e6%af%94%e5%be%ae%e8%b7%8c-%e5%87%80%e5%88%a9%e6%b6%a6%e5%a2%9e162-%e6%b1%bd%e8%bd%a6%e4%b8%9a%e5%8a%a1%e5%88%9b%e5%ad%a3","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=771231","title":{"rendered":"\u9ad8\u901a\u8425\u6536106\u4ebf\u7f8e\u5143\u540c\u6bd4\u5fae\u8dcc \u51c0\u5229\u6da6\u589e162% \u6c7d\u8f66\u4e1a\u52a1\u521b\u5b63\u5ea6\u7eaa\u5f55"},"content":{"rendered":"<p><a href=\"https:\/\/finance.sina.com.cn\/zt_d\/subject-1776083800\" target=\"_blank\" rel=\"noopener\">\u4e13\u9898\uff1a\u805a\u7126\u7f8e\u80a12026\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8d22\u62a5<\/a><\/p>\n<p><span><a href=\"https:\/\/stock.finance.sina.com.cn\/usstock\/quotes\/QCOM.html\" target=\"_blank\" data-sudaclick=\"content_marketkeywords_p\" rel=\"noopener\">\u9ad8\u901a<\/a><\/span><span><\/span>\u516c\u53f8\u4eca\u65e5\u516c\u5e03\u4e86\u622a\u81f32026\u5e743\u670829\u65e5\u7684\u7b2c\u4e8c\u8d22\u5b63\u8d22\u52a1<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%b8%9a%e7%bb%a9\" title=\"View all posts in \u4e1a\u7ee9\" target=\"_blank\" class=\"tag_link\">\u4e1a\u7ee9<\/a>\u3002<\/p>\n<ul>\n<li>\n<p><strong>\u8425\u6536<\/strong>\u4e3a106\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u4e0b\u964d3%\uff08GAAP\uff09\uff0c\u975eGAAP\u540c\u6bd4\u4e0b\u964d2%<\/p>\n<\/li>\n<li>\n<p><strong>GAAP\u51c0\u5229\u6da6<\/strong>\u4e3a74\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f162%\uff1b<strong>\u975eGAAP\u51c0\u5229\u6da6<\/strong>\u4e3a28\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u4e0b\u964d10%<\/p>\n<\/li>\n<li>\n<p><strong>GAAP\u6bcf\u80a1\u6536\u76ca<\/strong>\u4e3a6.88\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f173%\uff1b<strong>\u975eGAAP\u6bcf\u80a1\u6536\u76ca<\/strong>\u4e3a2.65\u7f8e\u5143\uff0c\u540c\u6bd4\u4e0b\u964d7%<\/p>\n<\/li>\n<li>\n<p>GAAP\u51c0\u5229\u6da6\u5305\u542b57\u4ebf\u7f8e\u5143\u6240\u5f97\u7a0e\u4f18\u60e0\uff08\u6bcf\u80a15.33\u7f8e\u5143\uff09\uff0c\u6e90\u4e8e\u4f01\u4e1a\u66ff\u4ee3\u6027\u6700\u4f4e\u7a0e\uff08CAMT\uff09\u76f8\u5173\u6307\u5f15\u5bfc\u81f4\u4f30\u503c\u5907\u62b5\u8f6c\u56de<\/p>\n<\/li>\n<li>\n<p>QCT<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%b1%bd%e8%bd%a6\" title=\"View all posts in \u6c7d\u8f66\" target=\"_blank\" class=\"tag_link\">\u6c7d\u8f66<\/a>\u4e1a\u52a1\u8425\u6536\u521b\u5b63\u5ea6\u7eaa\u5f55\uff0c\u540c\u6bd4\u589e\u957f38%<\/p>\n<\/li>\n<li>\n<p>QCT\u6c7d\u8f66+\u7269\u8054\u7f51\u5408\u5e76\u8425\u6536\u540c\u6bd4\u589e\u957f20%<\/p>\n<\/li>\n<li>\n<p>2026\u8d22\u5e74\u4e0a\u534a\u5e74\u5b8c\u621054\u4ebf\u7f8e\u5143\u80a1\u7968<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%9b%9e%e8%b4%ad\" title=\"View all posts in \u56de\u8d2d\" target=\"_blank\" class=\"tag_link\">\u56de\u8d2d<\/a>\uff0c\u5e76\u5ba3\u5e03\u65b0\u7684200\u4ebf\u7f8e\u5143\u56de\u8d2d\u6388\u6743<\/p>\n<\/li>\n<\/ul>\n<p><strong>\u8d22\u52a1\u6458\u8981\uff08GAAP vs\uff0e \u975eGAAP\uff09<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<th><span>\u6307\u6807<\/span><\/th>\n<th><span>GAAP 2026\u5e74Q2<\/span><\/th>\n<th><span>GAAP 2025\u5e74Q2<\/span><\/th>\n<th><span>\u53d8\u5316<\/span><\/th>\n<th><span>\u975eGAAP 2026\u5e74Q2<\/span><\/th>\n<th><span>\u975eGAAP 2025\u5e74Q2<\/span><\/th>\n<th><span>\u53d8\u5316<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span>\u8425\u6536<\/span><\/td>\n<td><span>$106\u4ebf<\/span><\/td>\n<td><span>$110\u4ebf<\/span><\/td>\n<td><span>-3%<\/span><\/td>\n<td><span>$106\u4ebf<\/span><\/td>\n<td><span>$108\u4ebf<\/span><\/td>\n<td><span>-2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>\u7a0e\u524d\u5229\u6da6<\/span><\/td>\n<td><span>$22\u4ebf<\/span><\/td>\n<td><span>$31\u4ebf<\/span><\/td>\n<td><span>-28%<\/span><\/td>\n<td><span>$32\u4ebf<\/span><\/td>\n<td><span>$37\u4ebf<\/span><\/td>\n<td><span>-12%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>\u51c0\u5229\u6da6<\/span><\/td>\n<td><span>$74\u4ebf<\/span><\/td>\n<td><span>$28\u4ebf<\/span><\/td>\n<td><span>+162%<\/span><\/td>\n<td><span>$28\u4ebf<\/span><\/td>\n<td><span>$32\u4ebf<\/span><\/td>\n<td><span>-10%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>\u7a00\u91ca\u6bcf\u80a1\u6536\u76ca<\/span><\/td>\n<td><span>$6.88<\/span><\/td>\n<td><span>$2.52<\/span><\/td>\n<td><span>+173%<\/span><\/td>\n<td><span>$2.65<\/span><\/td>\n<td><span>$2.85<\/span><\/td>\n<td><span>-7%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u5206\u90e8\u95e8\u4e1a\u7ee9<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<th><span>\u90e8\u95e8<\/span><\/th>\n<th><span>2026\u5e74Q2\u8425\u6536<\/span><\/th>\n<th><span>2025\u5e74Q2\u8425\u6536<\/span><\/th>\n<th><span>\u53d8\u5316<\/span><\/th>\n<th><span>2026\u5e74Q2\u7a0e\u524d\u5229\u6da6<\/span><\/th>\n<th><span>\u7a0e\u524d\u5229\u6da6\u7387<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span>QCT\uff08\u534a\u5bfc\u4f53\uff09<\/span><\/td>\n<td><span>$90.8\u4ebf<\/span><\/td>\n<td><span>$94.7\u4ebf<\/span><\/td>\n<td><span>-4%<\/span><\/td>\n<td><span>$24.7\u4ebf<\/span><\/td>\n<td><span>27%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>QTL\uff08\u6280\u672f\u8bb8\u53ef\uff09<\/span><\/td>\n<td><span>$13.8\u4ebf<\/span><\/td>\n<td><span>$13.2\u4ebf<\/span><\/td>\n<td><span>+5%<\/span><\/td>\n<td><span>$9.9\u4ebf<\/span><\/td>\n<td><span>72%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>QCT\u7ec6\u5206\u4e1a\u52a1\u8425\u6536<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<th><span>\u4e1a\u52a1<\/span><\/th>\n<th><span>2026\u5e74Q2\u8425\u6536<\/span><\/th>\n<th><span>2025\u5e74Q2\u8425\u6536<\/span><\/th>\n<th><span>\u53d8\u5316<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span>\u624b\u673a<\/span><\/td>\n<td><span>$60.2\u4ebf<\/span><\/td>\n<td><span>$69.3\u4ebf<\/span><\/td>\n<td><span>-13%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>\u6c7d\u8f66<\/span><\/td>\n<td><span>$13.3\u4ebf<\/span><\/td>\n<td><span>$9.6\u4ebf<\/span><\/td>\n<td><span>+38%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>\u7269\u8054\u7f51<\/span><\/td>\n<td><span>$17.3\u4ebf<\/span><\/td>\n<td><span>$15.8\u4ebf<\/span><\/td>\n<td><span>+9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><strong><span>QCT\u5408\u8ba1<\/span><\/strong><\/td>\n<td><strong><span>$90.8\u4ebf<\/span><\/strong><\/td>\n<td><strong><span>$94.7\u4ebf<\/span><\/strong><\/td>\n<td><strong><span>-4%<\/span><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u80a1\u4e1c\u56de\u62a5<\/strong><\/p>\n<ul>\n<li>\n<p>\u7b2c\u4e8c\u8d22\u5b63\u5411\u80a1\u4e1c\u8fd4\u8fd837\u4ebf\u7f8e\u5143\uff1a\u5305\u62ec9.45\u4ebf\u7f8e\u5143\u73b0\u91d1\u80a1\u606f\uff08\u6bcf\u80a10.89\u7f8e\u5143\uff09\u53ca28\u4ebf\u7f8e\u5143\u80a1\u7968\u56de\u8d2d\uff08\u56de\u8d2d1900\u4e07\u80a1\uff09<\/p>\n<\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%ab%98%e9%80%9a\" title=\"View all posts in \u9ad8\u901a\" target=\"_blank\" class=\"tag_link\">\u9ad8\u901a<\/a>\u603b\u88c1\u517c\u9996\u5e2d\u6267\u884c\u5b98\u514b\u91cc\u65af\u8482\u4e9a\u8bfa\u00b7\u963f\u8499\u8868\u793a\uff1a<\/strong><\/p>\n<p>\u201c\u6211\u4eec\u5f88\u9ad8\u5174\u5728\u5e94\u5bf9\u5145\u6ee1\u6311\u6218\u7684\u5b58\u50a8\u73af\u5883\u65f6\uff0c\u51ed\u501f\u7a33\u5065\u7684\u6267\u884c\u529b\u53d6\u5f97\u4e86\u7b26\u5408\u9884\u671f\u7684\u4e1a\u7ee9\u3002\u6211\u4eec\u6b63\u5904\u4e8e\u6df1\u523b\u7684\u884c\u4e1a\u8f6c\u578b\u671f\u2014\u2014AI\u4ee3\u7406\u7684\u5d1b\u8d77\u6b63\u5728\u91cd\u5851\u6211\u4eec\u6bcf\u4e2a\u5e73\u53f0\u7684\u4ea7\u54c1\u8def\u7ebf\u56fe\u3002\u6211\u4eec\u540c\u6837\u5bf9\u8fdb\u5165\u6570\u636e\u4e2d\u5fc3\u9886\u57df\u611f\u5230\u5174\u594b\uff0c\u4e00\u5bb6\u9886\u5148\u7684\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\u7684\u5b9a\u5236<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%8a%af%e7%89%87\" title=\"View all posts in \u82af\u7247\" target=\"_blank\" class=\"tag_link\">\u82af\u7247<\/a>\u5408\u4f5c\u6b63\u5728\u6309\u8ba1\u5212\u63a8\u8fdb\uff0c\u5c06\u4e8e\u4eca\u5e74\u665a\u4e9b\u65f6\u5019\u5f00\u59cb\u9996\u6279\u51fa\u8d27\u3002\u6211\u4eec\u671f\u5f85\u57286\u670824\u65e5\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%8a%95%e8%b5%84\" title=\"View all posts in \u6295\u8d44\" target=\"_blank\" class=\"tag_link\">\u6295\u8d44<\/a>\u8005\u65e5\u4e0a\u63d0\u4f9b\u5173\u4e8e\u589e\u957f\u8ba1\u5212\u7684\u6700\u65b0\u8fdb\u5c55\uff0c\u5305\u62ec\u6570\u636e\u4e2d\u5fc3\u548c\u7269\u7406AI\u9886\u57df\u7684\u673a\u9047\u3002\u201d<\/p>\n<p><strong>2026\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e1a\u52a1\u5c55\u671b<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<th><span>\u6307\u6807<\/span><\/th>\n<th><span>\u6307\u5f15\u533a\u95f4<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span>\u603b\u8425\u6536<\/span><\/td>\n<td><span><span>92\u4ebf\u2212<\/span><span><span><span>92<\/span><span>\u4ebf<\/span><span>\u2212<\/span><\/span><\/span><\/span><span>100\u4ebf<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>QCT\u8425\u6536<\/span><\/td>\n<td><span><span>79\u4ebf\u2212<\/span><span><span><span>79<\/span><span>\u4ebf<\/span><span>\u2212<\/span><\/span><\/span><\/span><span>85\u4ebf<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>QTL\u8425\u6536<\/span><\/td>\n<td><span><span>11.5\u4ebf\u2212<\/span><span><span><span>11.5<\/span><span>\u4ebf<\/span><span>\u2212<\/span><\/span><\/span><\/span><span>13.5\u4ebf<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>GAAP\u7a00\u91ca\u6bcf\u80a1\u6536\u76ca<\/span><\/td>\n<td><span><span>1.26\u2212<\/span><span><span><span>1.26<\/span><span>\u2212<\/span><\/span><\/span><\/span><span>1.46<\/span><\/td>\n<\/tr>\n<tr>\n<td><span>\u975eGAAP\u7a00\u91ca\u6bcf\u80a1\u6536\u76ca<\/span><\/td>\n<td><span><span>2.10\u2212<\/span><span><span><span>2.10<\/span><span>\u2212<\/span><\/span><\/span><\/span><span>2.30<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<blockquote>\n<p>\u6ce8\uff1a\u6307\u5f15\u8003\u8651\u5b58\u50a8\u4f9b\u5e94\u9650\u5236\u53ca\u5b9a\u4ef7\u5bf9\u90e8\u5206\u624b\u673aOEM\u5382\u5546\u9700\u6c42\u7684\u5f71\u54cd\u3002\u516c\u53f8\u9884\u8ba1\u6765\u81ea\u4e2d\u56fd\u5e02\u573a\u5ba2\u6237\u7684QCT\u624b\u673a\u8425\u6536\u5c06\u5728\u7b2c\u4e09\u5b63\u5ea6\u89e6\u5e95\uff0c\u4e0b\u4e00\u5b63\u5ea6\u6062\u590d\u73af\u6bd4\u589e\u957f\u3002<\/p>\n<\/blockquote>\n<p><strong>\u5176\u4ed6\u8d22\u52a1\u4fe1\u606f<\/strong><\/p>\n<ul>\n<li>\n<p>\u7b2c\u4e8c\u8d22\u5b63GAAP\u4e1a\u7ee9\u5305\u542b57\u4ebf\u7f8e\u5143\u6240\u5f97\u7a0e\u4f18\u60e0\uff08\u6bcf\u80a15.33\u7f8e\u5143\uff09\uff0c\u672a\u8ba1\u5165\u975eGAAP\u6307\u6807<\/p>\n<\/li>\n<li>\n<p>\u975eGAAP\u6307\u6807\u5254\u9664QSI\uff08\u9ad8\u901a<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%88%98%e7%95%a5%e6%8a%95%e8%b5%84\" title=\"View all posts in \u6218\u7565\u6295\u8d44\" target=\"_blank\" class=\"tag_link\">\u6218\u7565\u6295\u8d44<\/a>\uff09\u677f\u5757\u3001\u80a1\u6743\u6fc0\u52b1\u8d39\u7528\u3001<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%94%b6%e8%b4%ad\" title=\"View all posts in \u6536\u8d2d\" target=\"_blank\" class=\"tag_link\">\u6536\u8d2d<\/a>\u76f8\u5173\u9879\u76ee\u53ca\u5176\u4ed6\u9879\u76ee<\/p>\n<\/li>\n<\/ul>\n<p>\u8d23\u4efb\u7f16\u8f91\uff1a\u674e\u6850 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4e13\u9898\uff1a\u805a\u7126\u7f8e\u80a12026\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8d22\u62a5 \u9ad8\u901a\u516c\u53f8\u4eca\u65e5\u516c\u5e03\u4e86\u622a\u81f32026\u5e743\u670829\u65e5\u7684\u7b2c\u4e8c\u8d22\u5b63\u8d22\u52a1\u4e1a\u7ee9\u3002 \u8425\u6536\u4e3a1 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":[],"categories":[4],"tags":[266,49,125,241,103,113,339,303],"views":3,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/771231"}],"collection":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=771231"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/771231\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=771231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=771231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=771231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}