机构认为，预计11月市场将面临新一轮横盘调整，建议投资者暂缓加仓。 【财经日历】 2025年国际金融领袖投资峰会11月3至5日在香港举行。 第十八届中国—拉美企业家高峰会11月3日至4日在郑州举办。 | い 盘前必读 | // 外盘怎么样 // | | | --- | --- | --- | | 名称 | 现价 涨跌 | 涨跌幅 | | 道琼斯工业平均 | 47562.87c 40.75 | 0.09% | | 纳斯达克指数 | 23724.96c 143.82 | 0.61% | | 标普500 | 6840.20c 17.86 = | 0.26% | 当地时间上周五，美股三大股指尾盘拉升。截至收盘，道指涨0.09%，标普500指数涨0.26%，纳指涨0.61%。 奈飞涨2.7%，公司宣布1拆10分股计划。 其他明星科技股中，特斯拉涨3.7%，甲骨文涨2.2%，谷歌平盘，英伟达跌0.2%，微软跌1.5%，Meta跌2.7%。 西部数据涨8.8%，创历史新高，公司报告存储市场需求强劲，带动第一财季业绩超预期。 纳斯达克中国金龙指数探底回升涨0.5%，网易涨0.76%，百度跌0.77%，京东跌0.99%，阿里巴 ...

The way I see it, artificial intelligence (or AI), really leapt into the zeitgeist in late-2022 or early-2023 with the public introduction of DALL-E2 and ChatGPT. Both are provided by OpenAI and are software products that use AI to generate art and writing, respectively (and often at astounding quality). Since then, developments in AI have progressed at a breathtaking pace.We’re thick in the action of the latest earnings season for the US stock market – for the third quarter of 2025 – and I thought it would ...

Core Viewpoint - The article discusses the concentration of the stock market in the "Magnificent Seven" companies and challenges the narrative that this concentration poses a significant risk to the market's stability, arguing that the focus on this concentration is misguided and not fundamentally driven [1][2]. Group 1: Market Concentration - The "Magnificent Seven" stocks (Alphabet, Apple, Amazon, Meta Platforms, Microsoft, Nvidia, and Tesla) account for 38% of the market, raising concerns about excessive concentration [1]. - Despite ongoing warnings about the risks of concentration, the market has not collapsed, suggesting that the fears may be unfounded [1][2]. - The article posits that the concentration could be alleviated by the growth of other stocks in the market rather than a collapse of the Seven [1]. Group 2: Individual Company Analysis - Alphabet is viewed positively due to its successful transition to AI and strong performance in cloud services, with a price-to-earnings ratio of 27 times next year's earnings [2]. - Microsoft is recognized for its strong Co-Pilot numbers and enterprise software dominance, with no significant negatives impacting its outlook [2]. - Apple is noted for its strong market position and potential revenue from partnerships, with expectations of nearly $50 billion from Alphabet [2]. - Amazon's recent performance in AWS shows a turnaround, with growth accelerating to 20%, countering previous narratives of underperformance [2]. - Meta Platforms is seen as a strong player, with significant spending planned to maintain competitiveness in the AI space [2]. Group 3: Investment Strategy - The article emphasizes the importance of viewing stocks as individual investment opportunities rather than merely components of an index, suggesting that this perspective can lead to better investment decisions [2]. - It is suggested that the S&P 500 may need to rebalance to address concentration issues, but this does not necessarily indicate impending doom for the Seven [2]. - The future performance of the Seven will depend on their internal strengths and weaknesses, with the next quarterly reports being crucial for assessment [2].

Amazon's latest layoffs illustrate the AI canary in the coal mine for India's hopes of becoming a wealthier nation, @andymukherjee70 says (via @opinion) https://t.co/2O0q2drm0Q ...

Core Insights - Warren Buffett has led Berkshire Hathaway since 1965, achieving a remarkable 5,502,284% gain in per-share market value by the end of 2024, compared to a 39,054% gain for the S&P 500 [1] Company Analysis - Investors can follow Buffett's investment strategies or purchase shares of Berkshire Hathaway directly [2] - Buffett favors value and dividend stocks, particularly in the consumer goods sector, with notable investments in Apple and Amazon, both of which are positioned to benefit from AI advancements [3] Apple Inc. - Apple constitutes 24.3% of Berkshire's portfolio and is one of the few stocks Buffett has vowed never to sell, emphasizing its consumer goods aspect despite being labeled a tech company [5] - The iPhone, accounting for about 50% of Apple's total revenue, is highly regarded for its design and quality, leading to a loyal customer base that frequently upgrades their devices [6] - Increasing iPhone sales indicate customer satisfaction and suggest that Apple's AI capabilities, while currently perceived as lagging, are effective enough to maintain user loyalty [7] Amazon.com Inc. - Amazon represents only 0.7% of Berkshire's portfolio but is recognized as a significant player in the AI sector, with substantial long-term growth potential due to its consumer focus [10]

The Amazonification of Whole Foods is ramping up. Cue the Red Bull and Spicy Sweet Chili Doritos by the exit. https://t.co/2Uk2RcTbQk ...

降息前景再添迷雾 受美国政府持续停摆影响，本周经济数据发布再度受限。 从为数不多的指标看，由于对经济和劳动力市场前景的看法趋于悲观，美国咨商会的数据显示，其信心 指数从9月修正后的95.6降至94.6，为今年4月以来最低水平。未来6个月的预期指数降至71.5，为6月以 来最低。亚特兰大联储GDPNow模型对第四季度国内生产总值（GDP）的 "即时预测"值与上周持平， 仍为增长3.9%。 上周的最大焦点无疑是美联储联邦公开市场委员会（FOMC）会议 ——该会议向原本预期12月再次降 息的投资者释放了鹰派意外信号。堪萨斯城联储主席施密德（Jeff Schmid）在本次会议上投出反对票， 主张不进行降息；美联储主席鲍威尔则表示，对于12月会议应如何推进政策，委员们存在"强烈意见分 歧"。 多位地方联储主席在讲话中对降息持谨慎立场。例如，明年将成为轮值FOMC票委的达拉斯联邦储备银 行行长洛根（Lorie Logan）认为，本次降息是错误决策，因她并不确信通胀正朝着美联储2.0%的目标 回落。 牛津经济研究院高级经济学家施瓦茨（Bob Schwartz）在接受第一财经记者采访时表示，鲍威尔将本次 降息描述为又一次"风 ...

2025 年 11 月 02 日 固定收益 | 固定收益点评 美债收益率大幅上行 证券研究报告 海外跟踪周报 20251102 海外市场复盘（10.27-10.31） 海外权益，美股震荡收涨。周一，外交部长王毅同美国务卿鲁比奥通电话， 以及上周末中美代表团举行经贸磋商，提振市场情绪，美股三大指数均创 新高，高通进军 AI，令芯片股价大涨。周二，英伟达 CEO 黄仁勋在 GTC 2025 上淡化对 AI 泡沫的担忧，美股继续上涨。周三，FOMC 发布会鲍威尔表态 偏鹰，重创风险资产，美股在周三四回调。周五，亚马逊宣布云计算部门 季度营收大增，提振 AI 相关股票，美股三大指数收涨。 本周美元上涨。周三，FOMC 发布会鲍威尔表态偏鹰，强调 12 月降息远非 板上钉钉，支撑美元上行。 美债收益率显著上行。FOMC 虽如期降息，但鲍威尔强调美联储尚未就 12 月会议作出决定，委员会对 12 月如何行动存在严重分歧，越来越多的官员 希望推迟降息。周五，博斯蒂克、洛根、哈玛克、施密德四位美联储官员 表达对过度降息的担忧，令 12 月降息预期进一步下降。 本周黄金延续下跌、原油回落。本周一，菲律宾央行官员表示出售黄金， ...

Core Insights - The Q3 earnings reports from the five major US tech giants highlight the significant impact of AI on their growth, indicating that AI has become a critical factor for survival in the tech industry [11][12]. Company Summaries Google - Google achieved a record Q3 revenue of $102.35 billion, with a net profit increase of 33% year-over-year [2][3]. - The cloud service revenue reached $15.157 billion, exceeding expectations, with a backlog of $155 billion in orders [2]. - Over 70% of cloud customers are utilizing its AI solutions, leading to a profit margin increase to 19% [3]. Microsoft - Microsoft's Q3 intelligent cloud revenue was $30.897 billion, a 28% year-over-year increase, with Azure services growing at 39% [4]. - The company secured long-term contracts for Azure, amounting to several hundred billion dollars in future leasing fees [4][5]. - Capital expenditures surged to $34.9 billion, a 74.5% increase year-over-year, to expand computing capacity [5]. Apple - Apple's Q3 service revenue reached $28.75 billion, a 15% year-over-year increase, driven by AI-enhanced features in the iPhone 17 series [6][7]. - The iPhone 17 series saw a 14% year-over-year sales increase in the US and China, with the ProMax version selling 1.5 times more than its predecessor [7]. - The integration of hardware, AI, and services has created a profitable closed-loop business model [7]. Amazon - Amazon's AWS revenue for Q3 was $33.01 billion, a 20.2% year-over-year increase, marking the fastest growth in 11 quarters [8]. - The company is investing heavily in AI infrastructure, with plans to deploy over 1 million self-developed Trainium2 chips [8][9]. - Despite significant infrastructure investments, Amazon reported an operating cash flow of $130.7 billion, a 16% year-over-year increase [9]. Meta - Meta's Q3 advertising revenue increased due to AI enhancements, with ad impressions up 14% and prices rising by 10% [10]. - The company is leveraging AI to revitalize its advertising business, with Reels ad revenue exceeding $50 billion [10]. - WhatsApp's business messaging service is projected to generate $12 billion in revenue by 2026 [10].

美股五大巨头 Q3财报神仙打架，这波科技红利该怎么薅？ 谁能想到，才短短一年时间， AI就从"全网追捧的概念网红"彻底变身"科技圈顶流打工人"！ 美股五大科技巨头 Q3财报扎堆出炉，直接把"AI真香"焊死在热搜——苹果、微软、谷歌、亚 马逊、Meta齐刷刷交答卷，营收、盈利双增长的亮眼数据十分吸睛。 以前觉得科技圈内卷够狠，有了 AI这张"王牌"，巨头竞争直接升级成"神仙打架"。 每家都拿出压箱底绝活，没人敢躺平，玩法各有千秋，堪称一场精彩的 "AI花式搞钱大赛"。 而这波 AI风口的爆发， 格隆汇研究院早有前瞻预判，精准锁定了 AI驱动科技巨头增长的主线 趋势。 01 谷歌：闷声搞 技术 ，芯片+模型双线超车 谷歌是 "闷声干大事"的代表，靠"自研芯片+AI模型"双线突围，实现弯道超车。 Q3总营收首破千亿达1023.5亿美元，净利润同比飙33%，增长势头迅猛。 云服务营收 151.57亿美元超预期，订单储备1550亿美元；多模态AI模型APP月活达6.5亿， 付费用户超3亿，性能碾压同类产品。 超七成云客户搭载其 AI解决方案，云业务利润率提升至19%，从"烧钱"变"盈利引擎"。 最狠的是自研 TPUv7 ...