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科技财报速递｜成本同压，定价分化 episode artwork

EPISODE · Aug 1, 2026 · 5 MIN

科技财报速递｜成本同压，定价分化

from 投研随身听 · host 慢研播客

苹果当季硬件与毛利率好于预期，但一次性退款抬高利润表现，服务、大中华区与下一季指引偏弱。亚马逊的会计利润同样受到非经营性重估放大，但AWS实现量利齐升，使市场更愿意接受偏弱指引和资本开支增加。

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科技财报速递｜成本同压，定价分化

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