A business whose profit swings with the economic or price cycle rather than growing steadily. When the cycle turns, earnings can halve in a year.
周期性的
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| — | The AI trade splits in two 周期性的 · 第 6 张术语卡 | Memory is the most cyclical link in the AI chain, which is why it fell 17 to 22 per cent while Nvidia fell 9. 区分「周期股」和「成长股」看一件事：涨价能不能持续。周期股的高利润往往来自供需缺口，缺口一补，价格就回落；成长股的高利润来自份额或技术壁垒，价格不容易被产能打下来。存储正是前者：三家厂一扩产，价格就塌。 |