Core Insights - The technology sector experienced a volatile week, with Oracle's shares rising by 12%, while all other "Magnificent 7" companies faced declines year-to-date [1] - Microsoft and Amazon entered bear market territory, down 27% and 23% from their recent highs, respectively [1] - Concerns over cloud growth rates and rising memory prices are impacting major companies like Apple, Microsoft, and Amazon [1] Group 1: Company Performance - Oracle (ORCL) saw a weekly increase of 12.13% but remains down 17.63% year-to-date [1] - Microsoft (MSFT) had a slight weekly gain of 0.04% but is down 17.02% year-to-date [1] - Amazon (AMZN) declined by 5.48% weekly and is down 13.88% year-to-date [1] - Apple (AAPL) fell by 7.95% weekly and is down 5.83% year-to-date [1] - NVIDIA (NVDA) decreased by 1.40% weekly and is down 1.98% year-to-date [1] Group 2: Market Trends - Microsoft and Amazon's entry into bear markets is attributed to lower-than-expected cloud growth rates and concerns over pricing power in the AI sector [1] - Oracle's recent plans to raise tens of billions for AI cloud infrastructure contributed to its stock surge, indicating a potential shift in market sentiment [1] - Despite positive news for AI infrastructure, NVIDIA's stock remains flat, suggesting that market expectations may still be underestimating its potential [1]

Welcome back to Market on Close. I'm Sam Bartis live from the floor of the New York Stock Exchange alongside Marley Kaden in our Chicago headquarters. So, let's dive into tech and AI with our next guest, David Nicholson, chief research officer at Futurum.Hey, David. I suppose we better start with Amazon because I suppose if they're not able to turn things around in like the next 15 minutes. Um, they're on track for their worst 9-day losing streak since 2006, losing over $400 billion in market cap.A lot of t ...

After a long mega-cap tech-dominated leadership, the market has entered 2026 on less stable ground.  SP 500 (NYSE:SPY) is breakeven for the year, while the Magnificent 7 stocks average 7.3% negative return.Surging AI capital expenditures are driving investor jitters, raising questions on future margins even as industry giants such as Amazon (NASDAQ:AMZN) tout operational efficiencies and cost reductions.With tech giants pouring tens of billions into AI models, chips, and data centers, investors are starting ...

Microsoft, Amazon and others are planting flags in a new cottage industry as publishers look for additional revenue. ...

Core Viewpoint - Cloudflare is addressing an internal issue that affects its services for various applications and websites [1] Company Summary - Cloudflare is a technology company that provides services for a wide range of applications and websites [1]

EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersFXEmpire is owned and operated by Empire Media Network LTD., Company Registration Number 514641786, registered at 7 Jabotinsky Road, Ramat Gan 5252007, Israel. The content provided on this website includes general news and publications, our personal analysis and opinions, and materials provided by third parties. This content is intended for educational and research purposes only. It does not constitute, and should not be interpreted a ...

Core Viewpoint - Amazon's stock has seen a significant decline following its fourth-quarter earnings report, trading approximately 23% below its all-time highs, with a price-to-earnings ratio of 25.8, nearing its lowest valuation in recent history [1]. Financial Performance - Amazon's revenue exceeded expectations in the fourth quarter, with notable growth in the Amazon Web Services (AWS) segment. However, the company's projected capital spending of $200 billion for 2026 raised concerns among investors, especially given that its operating cash flow for 2025 was $139.5 billion, reflecting a 17% increase from the previous year [2]. - There is a possibility that Amazon may report negative free cash flow in 2026, prompting conservative investors to withdraw [2]. Management Insights - AWS CEO Matt Garman reassured investors that the significant capital expenditure should not be a cause for concern, suggesting that they should be optimistic about the spending [3]. - Garman anticipates a capacity constraint for AWS for the next few years, indicating that demand will outstrip supply, which could lead to increased sales for Amazon [4]. Strategic Investment - If Garman's predictions hold true, the $200 billion investment could be beneficial for Amazon, and further investment may be warranted [5]. - Historical context shows that Amazon's previous investments in its e-commerce infrastructure, which initially reduced profitability, ultimately established a strong competitive advantage, with the e-commerce division reporting $35 billion in operating income last year, a 23% year-over-year increase [6]. - The AWS segment has also outperformed, generating $129 billion in revenue last year, an 18% increase, and $45 billion in operating income. If Garman's forecast is accurate, Amazon's investment in AI computing power could allow it to maintain pricing power in the market [7].

Core Insights - Wall Street anticipates a significant increase in spending by major hyperscalers, with projections indicating over $700 billion in budgets for 2026 [1] Group 1: Spending Plans of Hyperscalers - The five largest hyperscalers—Amazon, Alphabet, Microsoft, Meta Platforms, and Oracle—are facing increasing backlogs of compute demand for their cloud services [2] - The projected capital expenditure budgets for 2026 are as follows: Amazon at $200 billion, Alphabet at $180 billion, Microsoft at $151 billion, Meta Platforms at $125 billion, and Oracle at $58.8 billion [5] - Year-over-year growth in spending for these companies is substantial, with Alphabet showing a 97% increase, Amazon at 56%, Oracle at 66%, Meta Platforms at 73%, and Microsoft at 28% [5] Group 2: Focus on AI Data Centers - A significant portion of the capital expenditure is directed towards building and outfitting new AI data centers, with Amazon also investing in its logistics networks [6] - Microsoft CFO indicated that approximately two-thirds of their capital expenditure is allocated to short-lived assets, primarily GPUs and CPUs, suggesting a similar trend among other hyperscalers [8]

Amazon and Alphabet saw huge growth in cloud computing during Q4.Alphabet (GOOG 1.10%) (GOOGL 1.06%) and Amazon (AMZN 0.39%) are two of the largest companies in the world, and each is heavily investing in artificial intelligence (AI). However, each is also making a fair bit of money from it, too, thanks to their cloud computing services.Several investors are bullish on both companies (including myself), but which is the better buy right now? Let's take a look at what each business is doing and see the bette ...

近日，Stratechery创始人、知名科技分析师Ben Thompson参与了一场深度对话。 在本次长达一个半小时的深度访谈中，Ben Thompson凭借其二十年的科技观察经验，围绕AI时代的算力瓶颈、商业模式演变以及科技巨头的护城河进行了犀 利点评。 核心预警：TSMC的保守与2029年的芯片荒 作为聚合理论的提出者，Thompson对当前AI基础设施的建设速度表达了极大的担忧。他提出了一个核心观点： 全球AI扩张的限制因素实际上是台积电的产能 扩张速度。 Thompson指出，尽管市场需求巨大，但作为垄断者的台积电在扩产上表现得相当保守。这是因为晶圆厂（Fab）的风险极高，一旦产能过剩，巨额的折旧成 本将摧毁利润率。 "晶圆厂99.9%的成本是折旧……台积电实际上表现得很理性。他们宁愿放弃潜在的长期收入，也不愿承担产能过剩的下行风险。" 这种保守策略导致了风险的错配。台积电将产能不足的风险转移给了英伟达、苹果和各大云厂商，而这些科技巨头面临的是"因算力不足而损失未来收入"的风 险。 Thompson做出了一个惊人的预测： "我认为我们在2029年左右将面临大规模的芯片短缺。" 他强调，目前的资本开支增 ...