Core Insights - DoorDash CEO Tony Xu emphasizes that the company's grocery offering has a competitive edge over Amazon due to the variety of choices available to consumers [1][2] - DoorDash collaborates with existing grocery chains rather than owning its own brands, which allows it to provide a wider selection of products [2] - The company is expanding its services to retailers, including fulfillment through DashMarts, to help grocers compete with Amazon [4] Company Strategy - DoorDash has expanded partnerships with grocery chains, including Kroger and regional players like Schnucks, to enhance its grocery delivery service [2] - The company is focusing on fulfilling both small and large grocery orders, which is beneficial for grocers as they earn more from a diverse range of products [5] - DoorDash aims to make its retail and grocery business unit-economic positive by the second half of 2026, indicating a strategic focus on profitability [6] Market Position - Despite disappointing fourth-quarter earnings, DoorDash shares rose by as much as 14% in after-market trading, reflecting investor confidence in its grocery strategy [4] - The grocery delivery market is competitive, with Amazon expanding its same- and next-day delivery services, which has impacted shares of DoorDash and Instacart [1]

Core Viewpoint - The report highlights significant concerns in equity markets due to the disruptive potential of artificial intelligence (AI), leading to a sell-off across various sectors, reminiscent of the Dot-com Bust 2.0 [3][4]. Sector Impact - **Insurance and Financial Services**: Stock prices for insurance companies fell after the introduction of an AI app by OpenAI that could provide homeowners insurance quotes. Similarly, AI capable of advising on tax strategies negatively impacted asset managers and brokerage firms [5]. - **Software Sector**: The release of Anthropic's Claude AI, which can perform legal research and specialized financial tasks, caused a decline in software stocks, affecting companies like PayPal, Salesforce, and Thomson Reuters [6]. - **Tech Stocks**: Amazon experienced its eighth consecutive losing day following a significant increase in its capital budget for AI data centers, while Apple's market value decreased by 5% [7]. - **Commercial Real Estate**: Stocks in commercial real estate plummeted as investors moved away from high-fee, labor-intensive business models perceived as vulnerable to AI disruption. Major firms like CBRE and Cushman & Wakefield saw stock price drops of 12.8% and 14%, respectively [11][12]. Market Sentiment - Investors are exhibiting panic and confusion regarding AI's potential impacts, leading to a flight to safer stocks in consumer staples and energy sectors [8]. - Analysts noted that the sell-off in financial services and real estate was an "AI scare trade," with fears of job losses and business model disruptions driving excessive selling [15][16]. Global Impact - **India's Tech Sector**: The Indian technology sector faced its worst weekly performance since April 2025, with the Nifty IT index dropping 8.2% and erasing approximately $50 billion in value [18][20]. - Concerns are growing that AI could disrupt India's $283 billion information technology services industry, potentially leading to missed growth targets for IT companies [20]. Analyst Perspectives - Some analysts argue that the reaction to AI threats is overly simplistic, emphasizing that IT companies will remain relevant, albeit with a leaner workforce [22]. - The long-term outlook suggests that companies slow to adopt AI may face severe challenges, as AI agents could replace human-led processes [17].

不过，AI投资正改变市场对科技巨头现金流能力的看法。亚马逊在今年2月披露，截至第四季度的过去 12个月，自由现金流为112亿美元，显著低于上一年同期的382亿美元。LPL Financial首席股票策略师 Jeff Buchbinder在2月12日的报告中指出，随着AI资本开支成为长期主题，投资者未来将更加密切关注企 业对自由现金流前景的指引。不过，他也补充称，市场一致预期仍指向"正向但波动较大的现金流增 长"。 近期走势显示，部分投资者或已开始重新建立对这家电商与云计算巨头的信心。亚马逊股价周二收涨， 结束了此前连续九个交易日下跌的走势，这是自2006年7月以来最长的一次连跌纪录。周三该股继续上 涨约1.8%，报204.79美元。 值得注意的是，尽管股价反弹，周二晚间披露的一份13F文件显示，巴菲特旗下伯克希尔·哈撒韦 (BRK.A.US,BRK.B.US)已将其亚马逊持股削减约80%至230万股，但这一消息并未阻止其股价的短线回 升。 不过，正是这种对AI支出的焦虑，使亚马逊的估值出现明显回落。目前该股未来12个月的预期市盈率 约为25.8倍，显著低于其过去五年平均的48.1倍。摩根士丹利分析师、该行科技 ...

周三（2月18日），三大指数集体收升。 截至收盘，道琼斯指数涨0.26%，报49662.66点；标普500指数涨0.56%，报6881.31点；纳斯达克综合指数涨0.78%，报22753.63点。 | 名称 | | 電新价 | 7505 20 | 瑞珠唱 | | --- | --- | --- | --- | --- | | 道現斯指数 | 0 | 49662.66 | +129.47 | 0.26% | | 标普500指数 | | 6881.31 | +38.09 | 0.56% | | 纳斯达克综合指数 | | 22753.63 | +175.25 | 0.78% | "七巨头"集体走高，英伟达收涨1.63%，前一天与Meta宣布达成多年跨代际战略合作伙伴关系；亚马逊涨1.81%，公司获潘兴广场大幅增持，成为该 基金的第三大重仓股。 安联投资管理公司高管Charlie Ripley表示："从我们的角度来看，会议纪要支持了我们的观点，即在可预见的未来美联储是不可能降息的。" 盘中，美国方面消息称，目前没有任何迹象表明美国与伊朗的外交谈判会取得突破，与此同时，越来越多的证据表明美对伊军事行动"迫在眉睫"。 受 ...

科技股和能源股成为周三美股上行两大推手。"科技七巨头"齐收涨，领涨的亚马逊和英伟达盘中曾涨近3%。英伟达股价得益于Meta新协议同意未来几年部 署数百万英伟达芯片。亚马逊四季度被巴菲特的伯克希尔·哈撒韦猛砍持仓77%，但当季被Bill Ackman旗下基金Pershing Square增持65%，股价得以继续脱离 九连跌所创的九个月低谷。 能源股得到原油反弹提振。美国副总统万斯称本周的美伊谈判未能满足美国的关键需求，美国总统特朗普保留对伊动武的权力。媒体周三获悉，特朗普可能 很快对伊朗发动军事行动，且行动规模超出大多数美国人预期，而不是像今年1月抓走委内瑞拉总统马杜罗那样的突袭。据央视，美官员称美军应在3月中旬 前完成中东军事部署。 周三公布的美国12月新屋开工户数、12月核心资本品订单均超预期增长，1月工业产出创将近一年最大环比增幅，强劲的经济数据暂时压倒AI恐慌，支持三 大美股指早盘齐涨。午盘公布的显示，联储的通胀担忧重燃，一些官员支持在利率指引中纳入加息可能，美股涨势消减，道指一度转跌。 主要美股指早盘走高，午盘美联储会议纪要公布后加速回吐涨幅，道指短线转跌 美联储会议纪要凸显联储内部利率决策分歧，更谨 ...

The Architecture of AdmirationLAST UPDATED: February 18, 2026 at 2:22 PMby Braden Kelley and Art InteligenciaEvery year, the Fortune World’s Most Admired Companies list serves as a masterclass in reputation management. In 2026, the stakes have shifted. We are no longer just looking at who can build a better widget; we are looking at who can navigate the “perpetual pivot.”“Innovation is no longer a department — it is a survival reflex built on human trust.” — Braden KelleyThe 2026 All-Star CircleAppleMicroso ...

Despite Amazon.com Inc. (NASDAQ:AMZN) enduring its worst losing streak in two decades, Futurum Chief Research Officer David Nicholson argues the market's aggressive sell-off is driven by anxiety rather than a shift in business fundamentals. Market Sentiment Vs. Reality Amazon recently faced a historic nine-day losing streak, its longest since 2006, resulting in a staggering $400 billion wipeout in market capitalization. The decline saw shares slide 18.19% in these nine days and 12.23% year-to-date, which ...

Company Developments - Meta Platforms and Nvidia have entered a multi-year agreement for Meta to deploy millions of Nvidia's AI chips, boosting Nvidia's position in AI hardware as Meta expands its data center capabilities [1][2] - Nvidia's shares increased by 1.6% following the announcement, while Meta's shares rose by 0.6% [2] - Amazon's stock rose by 1.8% after it was reported that Bill Aman's Pershing Square increased its stake in Amazon by 65% in the fourth quarter, making it the fund's third-largest position [3] Regulatory Updates - The FDA has reversed its initial refusal and agreed to review Moderna's application for its first mRNA-based seasonal flu shot, which is now expected to receive a final regulatory decision by August 5th [4][5] - Moderna's stock climbed approximately 6% on the news, with the company aiming to have the vaccine ready for the 2026-2027 flu season [6] Economic Indicators - Walmart is set to report earnings, with analysts expecting a revenue growth of about 5.6% year-over-year to $190.6 billion, an improvement from the previous year's 4.1% increase [9][10] - Earnings per share are anticipated to be around $0.73, and Walmart has only missed Wall Street revenue estimates once in the past two years [10] - Jobless claims data will be released, which is expected to provide insights into the stability of the job market following strong jobs data from the previous week [12][13] - The trade balance for November is projected at $56.8 billion, which will influence GDP estimates [14]

Amazon plans to invest about $200 billion in capital expenditures in 2026, a big jump from last year. ...

来源：环球市场播报 北京时间2月19日凌晨，美股周三收高。最新联储政策会议纪要凸显通胀担忧，并且官员们对随后的货 币政策方向存在分歧。美国声称仍然存在对伊朗动武的可能性，导致国际油价大涨。 道指涨129.47点，涨幅为0.26%，报49662.66点；纳指涨175.25点，涨幅为0.78%，报22753.63点；标普 500指数涨38.09点，涨幅为0.56%，报6881.31点。 英伟达收高1.6%，此前有报道称，Meta Platforms宣布将在其数据中心建设中使用数百万块英伟达芯 片。 此外，同为"科技股七巨头"成员的亚马逊上涨1.8%，此前监管文件显示著名投资者比尔-阿克曼的潘兴 广场（Pershing Square）基金在第四季度将其在这家电商巨头的持股增加了65%。这使得亚马逊成为该 基金的第三大重仓股。 在此之前，亚马逊遭遇连续九天的下跌。从2月2日到上周五，该股市值下跌了约18%，创下自2006年以 来最严重的连跌纪录，市值蒸发超过4500亿美元，原因是投资者质疑其人工智能支出计划的价值。 美光科技大涨5.3%，因有报道称著名对冲基金经理大卫-泰珀（David Tepper）旗下的Appal ...