近日，国际数据公司（IDC）发布的数据显示，2025年中国平板电脑市场出货量为3376万台，同比增长 13.1%。在换机周期的大背景下，"国补"政策的叠加有效刺激了消费信心与购买决策，用户换机意愿明 显提升，销售转化率同步改善，推动全年市场规模实现双位数增长。 从季度表现来看，2025年第四季度中国平板电脑市场出货量同比增长7.2%。虽然市场出货规模保持增 长态势，但随着"国补"政策在部分地区逐步收紧，其对需求的拉动效应有所减弱，第四季度市场同比增 速较前三季度出现放缓，市场逐步由政策驱动向产品与需求驱动过渡。 从不同厂商来看，华为和苹果两家的市场份额之和超过50%，市场领先地位较为明显。2025年全年，排 名前五的厂商分别为华为（29.2%）、苹果（24.5%）、小米（13.1%）、联想（9.7%）、荣耀 （8.6%）；2025年第四季度，分别为苹果（26.7%）、华为（24.9%）、联想（13.1%）、小米 （11%）、荣耀（7.7%）。 | | | 2025年,中国前五大智能平板电脑厂商 -- 市场份额、同比增幅 | | | --- | --- | --- | --- | | | 市场份信 | 市场馆 ...

今年，华为用手机拍摄的新春贺岁片《木马》，对垒苹果出品的新年影片《碰见你》。 《木马》讲述的，是一个常年在外经营游乐场的父亲春节回家，费尽周折为儿子做好了"旋转木马"，却 被儿子"故意破坏"，原因只是想让父亲在家能多待几天，一句"我就是想让你在家"，令人潸然泪下。 春节是中国人一年温情浓度最高的时刻，也是品牌营销的关键节点。但本质上，品牌在春节期间的内容 表达，不只是一场营销，更是一场"谁更懂中国人"的认知较量。 相比之下，华为《木马》锚定"春节"与"回家"的主线。父子间围绕"旋转木马"展开朴素叙事，没有宏大 场面，没有强情节冲突，却精准落在春节的情感轴心——"家与陪伴"。父亲的"拧巴"与儿子的真情流 露，在细节里缓慢铺陈。那种含蓄、不善表达却彼此挂念的亲情结构，正是中式家庭的真实写照。 从文化层面看，苹果讲的是"个人故事"，华为讲的是"家庭团聚"。前者强调的是"我在节日里遇见了什 么"，后者强调的是"我们在节日里如何彼此陪伴"。春节之所以能成为中国人最重要的温暖坐标，正因 为它是家庭叙事的年度高潮。《木马》深植于这种文化肌理之中，它没有刻意去"解释春节"，而是把春 节的情绪自然放进人物关系的流动里。 再往深 ...

Market Overview - The US stock market experienced a significant decline, with the Dow Jones Industrial Average dropping 669.42 points (1.34%) to close at 49,451.98 points, the Nasdaq Composite falling 469.32 points (2.03%) to 22,597.15 points, and the S&P 500 decreasing by 108.71 points (1.57%) to 6,832.76 points [1][2][3] Market Sentiment - Over 4,100 stocks declined, indicating widespread market panic as investors rushed to sell assets, particularly in the tech and growth sectors. The VIX index surged, reflecting heightened risk aversion [2][3] Sector Performance - The sell-off affected nearly all sectors, with notable declines in precious metals and semiconductor stocks. The precious metals sector saw significant drops, with gold futures down 3.08% and silver futures plummeting 10.62% [4][5][6][8] - The Philadelphia Semiconductor Index fell by 2.5%, with individual stocks like AEHR Test Systems down 17.58% and Intel down over 3% [8][10] Major Companies - Apple Inc. experienced a substantial drop of 5.00%, resulting in a market cap loss of over $120 billion, attributed partly to regulatory concerns [12] - Other major tech companies also faced declines, with Tesla down 1.62%, Amazon down 2.20%, and Meta Platforms down nearly 3% [12] Financial Sector - Bank stocks fell across the board, with JPMorgan Chase down over 2%, Goldman Sachs down over 4%, and Citigroup down over 5%, driven by concerns over AI disrupting traditional wealth management [13][14] Economic Indicators - Recent economic data, including a drop in initial jobless claims and lower-than-expected existing home sales, contributed to market anxiety about potential economic overheating and prolonged high interest rates [24][25][26] Global Market Impact - The sell-off in the US markets had a ripple effect on global markets, with European indices also closing lower after initially opening higher, indicating a widespread sentiment of fear [18][19][20] AI Concerns - The market's decline was exacerbated by fears regarding the disruptive impact of AI technologies on various industries, leading to significant stock price drops in sectors perceived to be at risk [21][22][30] Storage Chip Sector - In contrast to the overall market trend, storage chip stocks saw gains, with companies like SanDisk and Seagate Technology rising significantly, reflecting a belief that AI's growth will increase demand for data storage [29]

Market Overview - On February 13, 2026, a significant asset sell-off occurred in global financial markets, particularly impacting U.S. stock indices. The Dow Jones Industrial Average fell by 669.42 points (1.34%) to close at 49,451.98, while the Nasdaq Composite Index dropped 469.32 points (2.03%) to 22,597.15. The S&P 500 Index also declined by 108.71 points (1.57%) to 6,832.76 [1]. Commodity Market Impact - The sell-off extended to the commodity markets, with gold and silver experiencing substantial declines. COMEX gold futures fell by 3.08% to $4,941.4 per ounce, while COMEX silver futures plummeted by 10.62% to $75.01 per ounce [2][3]. Technology Sector Reaction - Major technology companies were severely affected, with Apple’s stock price dropping by 5%, resulting in a market value loss of over $120 billion (approximately 800 billion RMB). Other tech giants like Microsoft, Amazon, Tesla, Meta, and Nvidia also saw significant declines [3][4]. Chinese Concept Stocks - The Nasdaq Golden Dragon China Index, which includes many Chinese concept stocks, fell by 3% on the same day, indicating a collective sell-off in this sector. Over 40 Chinese concept stocks experienced substantial declines, with Tencent Music down 10.57% and Alibaba down 3.40% [3][4][6]. Employment Data Influence - The catalyst for this market turmoil was a strong U.S. employment report released on February 11, showing a non-farm payroll increase of 130,000 in January, significantly above the expected 70,000. This led to a shift in market expectations regarding Federal Reserve interest rate cuts, with the probability of a March rate cut dropping from 19.6% to 6% [5][6]. Capital Expenditure Concerns - Major tech companies announced aggressive capital expenditure plans for 2026, with Alphabet projecting $175 billion to $185 billion and Amazon estimating $200 billion, both nearly doubling their 2025 expenditures. This raised investor concerns about the return on such investments, especially as many companies reported record profits but saw stock price declines [10][11]. Market Sentiment and Volatility - The market's fear and volatility increased sharply, with the VIX index rising significantly. The sell-off was exacerbated by algorithm-driven trading, which triggered stop-loss orders and led to extreme price movements [15][16][17]. Global Market Impact - The financial turmoil that began in Wall Street quickly spread to global markets, with Asian and European stock markets opening lower in response to the U.S. declines [18].

Core Viewpoint - Soros Fund Management made significant adjustments to its investment portfolio in the fourth quarter, focusing on increasing exposure to tech giants while engaging in "buy high, sell low" strategies for energy and cryptocurrency stocks [1]. Group 1: Technology Sector Investments - The fund substantially increased its holdings in core technology stocks, including adding 161,000 shares of Microsoft (MSFT.US), 118,000 shares of Nvidia (NVDA.US), and approximately 66,000 shares of Apple [3]. - In the software and mobility sectors, the fund also increased its positions by acquiring approximately 216,000 shares of Atlassian (TEAM.US), 55,000 shares of Salesforce (CRM.US), and 119,000 shares of Uber (UBER.US) [3]. Group 2: Defensive and Growth Investments - In the defensive sector and consumer space, the fund increased its holdings in utility company Exelon (EXC.US) by approximately 488,000 shares and in gaming giant Electronic Arts (EA.US) by about 318,000 shares [3]. Group 3: Reduction in High Volatility and Financial Stocks - The fund reduced its positions in high-volatility and financial stocks, significantly cutting approximately 168,000 shares of Snowflake (SNOW.US) [4]. - It also reduced its holdings in Circle Internet Group (CRCL.US) by about 151,000 shares and in Interactive Brokers (IBKR.US) by approximately 813,000 shares, indicating a cautious stance towards the financial brokerage sector [5][6]. Group 4: New Positions and Exits - The fund opened new positions by purchasing gold-related assets such as New Gold (NGD.US) and established positions in DigitalBridge (DBRG.US), Blue Owl Capital (OWL.US), Exact Sciences (EXAS.US), and Xcel Energy (XEL.US) [7]. - It completely exited positions in KeyCorp (KEY.US), CareTrust REIT (CTRE.US), Cipher Mining (CIFR.US), and KKR & Co. (KKR.US), indicating a shift away from traditional banking and certain cryptocurrency mining stocks towards more stable or defensive sectors [7]. Group 5: Overall Strategy - The overall strategy of Soros Fund Management in the fourth quarter reflects a clear approach: embracing AI and core tech assets like Microsoft and Nvidia while avoiding high-volatility cloud and data companies like Snowflake, and hedging against macroeconomic uncertainties by investing in gold stocks. This "pick and choose" adjustment strategy highlights the pursuit of certainty and safety margins amid global economic uncertainties [7].

Group 1 - The core viewpoint of the article highlights that the AI wave is driving a super cycle, leading to a significant increase in the value of the memory industry, which is expected to reach $551.6 billion by 2026, more than double the value of the foundry industry at $218.7 billion [2] - The memory industry's growth is attributed to supply constraints and soaring prices, which are expected to continue impacting the market [2] Group 2 - The article forecasts that by 2026, over 60% of global shipments of optical transceivers will be 800G or higher, driven by Google's new high-speed interconnect architecture to meet AI's massive computing demands [5] - The global smartphone production is projected to decline by 10% in 2026, with total production expected to drop to approximately 1.135 billion units due to rising memory prices, which may further weaken terminal demand [8][9] - Sharp's Kameyama K2 factory is set to halt operations in August, which may impact Apple's supply of IT panels and electronic paper, as the factory has been a key supplier for Apple [11] - The HBM4 validation is expected to be completed by the second quarter of 2026, with major suppliers like Samsung, SK Hynix, and Micron anticipated to form a supply structure for NVIDIA's HBM4 needs [12]

Market Performance - On February 13, the US stock market showed mixed results, with large tech stocks declining while Chinese concept stocks had varied performances [2] - The Dow Jones Industrial Average rose by 0.1% to close at 49,500.93 points, the S&P 500 increased by 0.05% to 6,836.17 points, and the Nasdaq Composite gained 0.22% to 22,546.67 points. However, all three indices experienced weekly declines, with the Nasdaq down 2.1%, the Dow down 1.23%, and the S&P 500 down 1.39% [3] Individual Stock Performance - Major tech stocks saw declines, with NVIDIA down 2.22% to $182.785, Apple down 2.27% to $255.790, and Google down 1.08% to $306.020. Microsoft fell slightly by 0.18% to $401.100, while Amazon decreased by 0.44% to $198.730. Meta Platforms dropped by 1.55% to $639.760, while Tesla saw a slight increase of 0.11% to $417.530 [4] - In the Chinese concept stock market, Tencent Music rose over 4%, while Alibaba fell over 2%, and JD Group, Baidu Group, Beike, and Li Auto all dropped by more than 1% [6] Commodity Market - Spot gold prices increased by 2.41% to a high of $5,046.261 per ounce, currently trading at $5,042.808 per ounce [8] - Spot silver prices also rose, breaking the $79 per ounce mark with a daily increase of 2.81% [8] - Gold futures contracts rose by 1.4% this week, marking an upward trend in 8 out of the last 10 weeks [9] - Silver futures contracts increased by 1.5% this week, ending a two-week decline and showing an upward trend in 11 out of the last 15 weeks [11] Market Insights - NVIDIA's CEO Jensen Huang addressed concerns about excessive spending in data centers, asserting that spending levels are reasonable and sustainable. He emphasized the growing utility and functionality of artificial intelligence, dismissing the recent sell-off in software stocks as "the most illogical thing in the world" [5] - Despite volatility in the precious metals market, demand for safe-haven assets continues to support rising gold and silver prices, according to a report by Antonio Di Giacomo from XS.com [10]

来源：环球网 【环球网科技综合报道】2月14日，据外媒macrumors报道，据知名爆料人透露，苹果公司正在测试一款 全新形态的折叠屏iPhone，采用翻盖式设计，与三星Galaxy Z Flip 7、摩托罗拉Razr等机型或形成直接 竞争。 据悉，这款翻盖式折叠屏iPhone并非苹果首款折叠屏产品，而是在今年晚些时候将推出的书本式折叠屏 iPhone之外，新增的测试机型。目前，该翻盖式机型能否进入大规模量产阶段，尚未有明确定论。事实 上，苹果对翻盖式折叠屏的探索早有迹象，本月早些时候，彭博社记者马克·古尔曼就曾表示，苹果正 探索一款"方形翻盖式"折叠屏iPhone的研发思路。 外媒报道称，两款折叠屏机型定位差异明显：苹果首款折叠屏iPhone采用书本式设计，类似三星Galaxy Z Fold 7，主打大屏体验，配备7.8英寸无折痕内屏和5.5英寸外屏，搭载A20芯片与C2调制解调器，配备 Touch ID和双后置摄像头，预计将于秋季与iPhone 18 Pro、iPhone 18 Pro Max同步推出，侧重视频观 看、游戏娱乐及多任务处理功能。 而此次测试的翻盖式折叠屏iPhone，则以便携性为核心卖点， ...

影像与性能是此次升级的重点。影像上，两款Pro机型的4800万像素主摄像头将搭载可变光圈技术，用 户可自主控制镜头进光量，精准调节景深效果，但受手机机身尺寸限制，其影像提升幅度尚待验证。性 能上，新机将搭载A20 Pro芯片，采用台积电第一代2nm工艺，相比上代A19 Pro的3nm工艺，配合全新 封装设计，性能与功耗表现将实现显著提升，实测显示其性能或暴涨15%、功耗狂降35%。 通信与辅助芯片也同步升级：iPhone 18 Pro将搭载新一代N2芯片，取代前代N1芯片，后者目前支撑着 iPhone 17系列的Wi-Fi 7、蓝牙6等功能，N2芯片的具体升级点暂未公布；同时，该机还将配备第三代自 研C2调制解调器，接替iPhone Air上的C1X芯片，延续通信速度与功耗控制的升级趋势，其5G信号强度 或提升25%，弱网场景表现更出色。 Jeff Pu在报告中指出，外观方面，iPhone 18 Pro将迎来灵动岛尺寸缩小升级。据悉，苹果计划将Face ID 的泛光照明器移至屏幕下方，这一技术调整将为灵动岛瘦身创造条件，进一步提升屏幕屏占比，带来更 沉浸的视觉体验，这也是自iPhone 14 Pro系列搭载灵 ...

iPhone方面，过去四年推出的机型中，74%已升级至iOS 26，剩余20%仍在使用iOS 18，6%运行更早版 本系统。对比来看，iOS 18上线127天后，同期机型普及率达76%；iOS 17上线139天后，同期机型普及 率也为76%。若涵盖所有iPhone机型，iOS 26当前普及率为66%，略低于iOS 18同期的68%，与iOS 17同 期的66%持平。 来源：环球网 【环球网科技综合报道】2月14日消息，据外媒9to5mac报道，近日，苹果官方首次发布iOS 26系统 adoption数据，数据基于2026年2月12日App Store交易设备统计，涵盖iPhone和iPad机型，清晰呈现了这 款2025年9月15日发布的系统上线150天后的市场接受度，同时对比了前代系统同期表现，揭示出更新节 奏的细微变化。 外媒报道称，值得注意的是，iOS 26普及率略低存在客观原因——该系统不再支持iPhone XS、iPhone XS Max和iPhone XR，这三款机型已被列为过时产品，只能停留在旧系统，而iOS 18则延续了对前代机 型的全面支持，这一差异直接影响了整体更新率。此外，部分用户因担忧续 ...