Quick Read Amazon (AMZN) and Microsoft (MSFT) entered bear market territory with drops of 23% and 27% from recent peaks. Microsoft capex rose 66% to $37.5B. Amazon announced $200B in capex for 2026. Both companies met or beat earnings expectations but sold off as investors questioned AI spending returns. A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, to reality. Read more here. Two of tech's most dominant companies just hit ...

Core Insights - Amazon and Microsoft have entered bear market territory, with declines of 23% and 27% from recent peaks, respectively [1] - Both companies met or exceeded earnings expectations, yet their stocks sold off due to concerns over capital expenditure and AI spending returns [1] Company Performance - Amazon's stock closed at $199.60, down 13.5% year-to-date and 17.7% over the past month, having peaked at $258.60 within the last 52 weeks [1] - Microsoft's stock closed at $401.84, down 16.9% year-to-date and 14.6% over the past month, with a 52-week high of $553.50 [1] - Amazon's capital expenditure for 2026 is projected at $200 billion, while Microsoft's capex rose 66% year-over-year to $37.5 billion [1] Market Sentiment - Investors are questioning the return on nearly $700 billion projected capital expenditure by Big Tech on AI-driven infrastructure [1] - Analysts have turned cautious, with Zacks rating Amazon as Hold due to premium valuation and aggressive spending outpacing AWS growth, while Microsoft received a Somewhat-Bearish rating due to high capex guidance [1] Broader Market Context - The overall market is feeling the impact of the declines in major tech stocks, with the Nasdaq-100 down 2.2% year-to-date and 4.1% over the past month [1] - Other companies in the Magnificent 7, such as Alphabet and Tesla, have also seen declines, while only Nvidia and Meta have remained relatively flat year-to-date [1]

Amazon Web Services is the primary reason investors should own Amazon stock.Quick, what's the first thing you think of when you hear Amazon (AMZN 0.41%)? The vast majority of respondents would likely mention the e-commerce platform. However, while the platform is the most consumer-facing part of Amazon's business, it's far from the most exciting.Instead, Amazon's cloud computing and chip business is by far the best reason to invest in the stock.Although there were some questions surrounding whether Amazon w ...

智通财经2月14日讯（编辑 史正丞）北京时间上周五清晨，随着全球电商和云计算龙头亚马逊拍出"2026财年资本支出2000亿美 元"的公告，公司股价直线跳水。直到本周五收盘，亚马逊创出连跌9日的近20年最长连跌纪录，近两周累计跳水超"20cm"。 （来源：TradingView） 根据周六的最新消息，除了AI支出会挤压利润、回购能力外，科技巨头也在面临更深层次的恐惧：在AI时代处于落后的不利地位。 AI巨额投资的"恐惧暗面" 据悉，除了砸下2000亿美元重点扩建人工智能算力基建外，亚马逊眼下也在进行战略调整，原因是担忧其云计算业务在争取AI相关 合同时失去当前的市场地位。 截止发稿，亚马逊AWS依然是全球第一大云服务商，一年能产生1300亿美元营收，贡献集团近60%的净利润。但有分析师指出，随 着AI服务对算力需求的整体拉升，微软云服务将在3年后超越亚马逊。 内部员工透露，AWS目前正面临与"领先AI供应商"达成更多交易的压力。亚马逊曾向Anthropic投资80亿美元，并为其建设数据中 心，但其最初的投资是在谷歌押注该初创公司之后才进行的。 与此同时，作为OpenAI最早的投资者之一，微软成功与ChatGPT ...

Core Viewpoint - Nvidia is currently the largest company by market capitalization, but its future growth may be challenged due to high P/E ratios, competition from customers, and reliance on AI infrastructure spending [1][2]. Group 1: Nvidia's Market Position - Nvidia has experienced rapid growth, particularly in the AI sector, making it a significant player in the market [1]. - The company's current market cap stands at $4.6 trillion, with a P/E ratio of 46, indicating a premium valuation [2][12]. Group 2: Amazon's Strategy - Amazon is one of Nvidia's largest customers, investing heavily in AI-related chips for its AWS business [4]. - The company is diversifying its chip procurement by developing in-house brands, which may reduce its reliance on Nvidia over time [5]. - Amazon's revenue from North American commerce grew 10% year-over-year to $127 billion, while AWS revenue increased 24% year-over-year to $35.6 billion [7]. Group 3: Alphabet's Competitive Edge - Alphabet, the parent company of Google, has invested in its own chips, specifically Tensor Processing Units (TPUs), which are used in its data centers and cloud infrastructure [8]. - Like Amazon, Alphabet remains a customer of Nvidia but is also working to reduce its dependency on third-party chips [9]. - Alphabet's Google Search revenue rose 17%, and Google Cloud revenue increased 48%, benefiting from the AI trend [11].

2月13日，美国科技巨头亚马逊收盘报198.79美元/股，市值2.1万亿美元，为连续第9日下跌，创下2006年7月以来最长的连跌纪录。亚马逊股价较近期高点 累计下跌超23%，已进入技术性熊市，成为Mag7(美股七巨头)中第二家跌入熊市的公司。 微软是首家进入熊市的Mag7成员，股价于1月29日跌入熊市。截至13日收盘，微软股价较近期高点下跌27.8%。Meta可能成为下一个跌入熊市的Mag7成 员，截至周五收盘，较去年高点累跌19.6%，距离熊市的20%跌幅门槛仅差0.4%。据券商中国统计，今年以来，Mag7市值蒸发了约1.51万亿美元(折合人民 币约10.4万亿元)。 近期，美股市场轮动的趋势正愈发明显。亚马逊、谷歌母公司Alphabet等科技巨头公布了巨额资本支出计划，加上投资者们对Anthropic新工具的担忧再度 加剧，导致众多人工智能相关的企业股票遭到抛售，资金纷纷涌入其他板块的价值型股票。 美国银行认为，2020年以来，以"七巨头"为代表的科技巨头在美股市场上的领导地位正面临"重大威胁"。随着美国中期选举的临近，投资者应逐步倾向于 投资中小盘股票。 美银首席投资策略师迈克尔.哈特内特(Michae ...

编辑｜江佩霞 记者｜吴斌 见习记者林芊蔚 与此同时，有报道指出，近日，瑞银集团和高盛相继向美国证券交易委员会（SEC）递交了截 至2025年12月31日的第四季度持仓报告（13F），报告显示， 两家机构对多只美股科技巨头进 行了大手笔减仓。其中，瑞银集团减持了1004.2万股英伟达，减持幅度达11.47%。 2月13日，美国科技巨头亚马逊收盘报198.79美元/股， 市值2.1万亿美元，为 连续第9日下 跌，创下2006年7月以来最长的连跌纪录 。亚马逊股价 较近期高 点累计下跌超23%，已进入 技术性熊市 ，成为Mag7（美股七巨头）中第二家跌入熊市的公司。 微软是首家进入熊市的Mag7成员，股价于1月29日跌入熊市。截至13日收盘，微软股价较近期 高点下跌27.8%。Meta可能成为下一个跌入熊市的Mag7成员，截至周五收盘，较去年高点累 跌19.6%，距离熊市的20%跌幅门槛仅差0.4%。据券商中国统计， 今年以来，Mag7市值蒸发 了约1.51万亿美元（折合人民币约10.4万亿元）。 展望未来，威尔逊分析称，人工智能赋能板块的基本面利好因素仍在，而且人工智能应用端相 关标的的投资价值仍然被低估了。那些 ...

Core Insights - Retail investors are focusing on five stocks driven by hype, earnings, AI trends, and corporate news flow [1] Group 1: GameStop (GME) - Retail investors are optimistic about GME's prospects compared to Rivian Automotive Inc. (RIVN) [7] - GME's stock had a 52-week range of $19.93 to $35.81, trading around $23 to $25 per share, with a decline of 10.71% over the year and an increase of 2.17% over the last six months [7] - GME shows a weaker long-term price trend but a strong short and medium-term trend, with a strong growth ranking according to Benzinga's Edge Stock Rankings [7] Group 2: Amazon.com (AMZN) - Some retail investors believe AMZN has the strongest supply chain network and should not be sold [7] - AMZN's stock had a 52-week range of $161.43 to $258.60, trading around $199 to $201 per share, with a decline of 13.36% over the year and an increase of 11.12% over the last six months [7] - AMZN exhibits a weaker price trend across short, medium, and long terms, but has a solid quality ranking according to Benzinga's Edge Stock Rankings [7] Group 3: Palantir Technologies (PLTR) - Retail investors noted that Burry's analysis led to a significant sell-off in PLTR's stock [7] - PLTR's stock had a 52-week range of $66.12 to $207.52, trading around $128 to $131 per share, with a return of 9.55% over the year and a decline of 29.94% over the last six months [7] - PLTR shows a weaker price trend in short, medium, and long terms, with a solid growth score according to Benzinga's Edge Stock Rankings [7] Group 4: Tesla (TSLA) - Some retail investors criticized Elon Musk for diversifying into various businesses [7] - TSLA's stock had a 52-week range of $214.25 to $498.82, trading around $415 to $420 per share, with an increase of 17.17% over the year and 22.89% over the last six months [7] - TSLA maintains a stronger long-term price trend but a weaker short and medium-term trend, with a solid quality score according to Benzinga's Edge Stock Rankings [7] Group 5: Nvidia (NVDA) - NVDA is preparing for its fiscal fourth-quarter earnings report amid strong AI demand and minor headwinds [8] - Wall Street analysts are overwhelmingly positive on NVDA, with 94% rating it Buy/Strong Buy, and target prices ranging from $250 to $352 [7] - NVDA's stock had a 52-week range of $86.63 to $212.19, trading around $186 to $190 per share, with a gain of 38.18% over the year and 2.95% over the last six months [7] - NVDA maintains a strong price trend across short, medium, and long terms, with a solid growth ranking according to Benzinga's Edge Stock Rankings [8]

Group 1 - Bridgewater's latest 13F report reveals a total market value of $27.4 billion in Q4 2025, up from $25.5 billion in Q3 2025 [3] - The top ten holdings account for 36.35% of the total portfolio, with significant positions in SPDR S&P 500 ETF (SPY), iShares S&P 500 ETF (IVV), Nvidia, Amazon, and Newmont [3][4] - The five largest increases in holdings include SPY, Micron Technology, Oracle, Nvidia, and Newmont Corporation [4][5] Group 2 - Bridgewater increased its Nvidia shares from 2.51 million in Q3 to 3.87 million in Q4, a 54% increase, and also raised its Amazon holdings to 1.95 million shares [5] - The report indicates a reduction in holdings for companies like Uber, Fiserv, Google, META, and Microsoft [5] Group 3 - Ray Dalio emphasizes that the main sources of returns in 2025 stem from changes in currency value and the underperformance of U.S. stocks compared to non-U.S. stocks and gold [8] - The dollar depreciated against several currencies, with a notable 39% decline against gold, which emerged as the best-performing asset [8] - The report highlights a significant capital reallocation from the U.S. to international markets, a trend expected to continue [8]

Group 1 - Bridgewater Associates significantly increased its holdings in technology stocks and gold-related stocks in Q4 2025, including Nvidia, Amazon, and Newmont Corporation [1][2] - The total market value of Bridgewater's holdings reached $27.4 billion in Q4 2025, up from $25.5 billion in Q3 2025 [2] - The top ten holdings accounted for 36.35% of the total portfolio, with SPDR S&P 500 ETF (SPY) and iShares S&P 500 ETF (IVV) being the largest positions [2][3] Group 2 - Bridgewater increased its Nvidia shares from 2.51 million to 3.87 million, a 54% increase, and also raised its Amazon shares to 1.95 million [4] - The largest reductions in holdings were in Uber, Fiserv, Google, Meta, and Microsoft [4] - The report indicates a shift in asset allocation from the U.S. to international markets, with a notable focus on gold as a strong asset class [7][8] Group 3 - Ray Dalio emphasized that the main sources of returns in 2025 were changes in currency values and the underperformance of U.S. stocks compared to non-U.S. stocks and gold [7] - The dollar depreciated against several currencies, with a 39% decline against gold, highlighting gold's status as a strong asset [7] - Current high price-to-earnings ratios and low credit spreads indicate that overall valuations are expensive, with expected long-term stock returns at about 4.7% [8]