Group 1 - The company's payments to the U.S. government were reduced due to breaks for investment and research [1]

“The latest labor figures reiterate that the U.S. jobs market is not firing on all cylinders, a risk the Fed and investors will have to take seriously should further deterioration occur,” said Bret Kenwell at eToro. “Volatility could persist, particularly if near-term uncertainty increases.”A Labor Department report released on Thursday showed that the U.S. JOLTs job openings unexpectedly fell to a 5-1/4-year low of 6.542 million in December, weaker than expectations of 7.200 million. Also, the number of Am ...

21世纪经济报道记者董静怡 美东时间2月5日盘后，亚马逊发布了2025年第四季度财报。 其中，两个关键数字引人关注：核心云业务AWS营收同比增长24%，创下十三个季度以来最快增速；同时，公司宣布将在2026年投入约2000亿 美元用于资本支出，较2025年约1310亿美元的资本支出大幅跃升。 消息公布后，公司盘后股价应声下跌超过11%。 资本市场用脚投票的背后，是投资者对短期利润与长期投入之间平衡的疑虑。亚马逊首席执行官安迪.贾西(Andy Jassy)在财报电话会议上花了 大量时间解释这笔开支的必要性，强调AI带来的需求是真实的、巨大的。 "我们持续看到，新增的AI产能一经部署，就能迅速实现货币化。"安迪.贾西表示，"我们有信心这些投资将产生强劲的投资资本回报率。" 这考验着投资者对亚马逊长期战略的耐心。过去，亚马逊曾通过大规模投资物流网络和云基础设施建立起竞争壁垒，现在，它希望用同样的方 式赢得AI时代。不同的是，这次竞争更激烈，投入更集中，而回报周期可能更长。 AWS增长强劲 整体来看，亚马逊最新季度的财报还算亮眼。 2025年第四季度，亚马逊实现营收2134亿美元，同比增长14%，高于市场预期的211 ...

Market Overview - U.S. equity markets are facing challenges due to a tech-led sell-off and cautious premarket activity, with a focus on corporate earnings and economic data [1] - The Nasdaq Composite, Dow Jones Industrial Average, and S&P 500 have all entered negative territory for 2026, with the S&P 500 dropping to 6790 points, reflecting a 0.12% decline from the previous session [6] Premarket Trading and Futures Movements - U.S. stock futures showed mixed results, with initial declines influenced by the technology sector and Amazon's earnings miss, but later rebounded slightly [2] - Nasdaq 100 futures fell by 0.37% initially but gained 0.35% later, while S&P 500 futures dropped 0.16% before rising 0.29% [2] Corporate Earnings Impact - Amazon's shares fell between 8% and 11% in premarket trading following a fourth-quarter earnings report that included a higher-than-expected capital expenditure guidance of approximately $200 billion for 2026, primarily for AI projects [3] - Alphabet's shares dropped 4% despite exceeding earnings expectations, attributed to concerns over heavy spending plans projected between $175 billion and $185 billion for 2026 [12] Treasury Yields - U.S. Treasury yields increased, with the 10-year yield rising to 4.20%, the 30-year yield climbing to 4.86%, and the 2-year yield increasing to 3.49% [4] Notable Movers - Gen Digital surged by 10.97%, FactSet Research Systems rose by 5.17%, and Coinbase Global gained 4.28% in premarket trading [5] - Molina Healthcare experienced a significant decline of 33.10%, while Centene dropped by 10.12% [5] Upcoming Economic Events - The U.S. Non-Farm Payrolls report and unemployment rate, typically a major market mover, has been postponed due to a federal government shutdown [8] - Federal Reserve officials are scheduled to speak, providing insights into economic outlook and monetary policy, with a focus on potential future rate decisions [9] Sector Recommendations - Analysts suggest focusing on companies with durable demand and strong balance sheets in sectors like aerospace, defense, gold, energy, and cybersecurity amidst market uncertainty, highlighting Howmet Aerospace and Chevron as potential opportunities [15]

作者 Ahan Vashi ，内容为转载编译，仅为呈现不同市场观点与研究视角，并不意味着本公众 号对文中观点结论认可。 尽管营收超出市场预期，亚马逊在发布 2025 年第四季度财报后，股价应声下挫约 8%。每股 收益小幅不及预期，叠加 2026 年惊人的资本开支指引，显然让投资者纷纷避险离场： · 2025 年 Q4 净销售额： 2134 亿美元 （同比 + 14%，市场预期 2112.3 亿美元） 诚然，AWS 同比增速回升至 24%，但亚马逊 2026 年第一季度业绩展望仅勉强符合市场预 期： · 摊薄后每股收益： 1.95 美元 （同比 + 5%，市场预期 1.96 美元） 从业务板块来看，亚马逊云业务增长持续提速：AWS 季度营收 356 亿美元，同比大涨 24%；广告业务营收 213 亿美元，同比增长 22%；零售业务则实现高个位数稳健增长。 | AMAZON.COM, INC. | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | Supplemental Financial Information and Busi ...

Core Insights - The article discusses the rapid development of artificial intelligence (AI) technology and its implications for various companies and industries, highlighting significant advancements and market trends in AI-related sectors [3]. Group 1: AI Developments - OpenAI is launching a new platform called Frontier to assist businesses in deploying AI agents, aiming to solidify its leadership in automating high-value work tasks [5]. - Anthropic has released a new AI model named Claude Opus 4.6, designed for financial research, which can analyze corporate data and generate detailed financial reports, significantly reducing the time required for such tasks [6]. Group 2: Market Reactions - Following the announcement of Anthropic's AI model, stock prices of financial service companies dropped, with FactSet Research Systems Inc. experiencing a decline of up to 10% [7]. - Goldman Sachs indicated that Oracle's record bond issuance, which raised $25 billion, has injected confidence into the debt market, paving the way for other tech giants to raise funds for AI infrastructure [8]. Group 3: Company-Specific Updates - Apple is reportedly scaling back its virtual health coach program, known as "Mulberry," as it reassesses its health services strategy amid increasing competition in the health tracking market [10]. - Amazon reported fourth-quarter net sales of $213.39 billion, exceeding analyst expectations, and projected capital expenditures of approximately $200 billion by 2026, significantly higher than previous estimates [11]. - NVIDIA will not release a new gaming graphics chip this year due to a global shortage of storage chips, marking the first time in 30 years that the company has not launched a new gaming GPU [12].

By Lucy Raitano, Dhara Ranasinghe and Chibuike Oguh NEW YORK/LONDON, Feb 6 (Reuters) - A planned $600 billion artificial intelligence spending splurge by big tech firms in 2026 is adding to investor unease as they assess the implications for profitability as well as a ​potential existential threat to software firms. Shares of Amazon, which had announced a $200 billion capital expenditure outlay, slid 7% on Friday, while ‌Alphabet lost 3% after the company said on Wednesday that capital spending could d ...

Group 1 - The core viewpoint is that Canadian Imperial Bank of Commerce has lowered the target price for Amazon from $300 to $275 [1]

Core Viewpoint - Amazon's stock price fell 7% in pre-market trading due to negative investor reactions to its performance, with a peak decline of over 11% during the day [1] Group 1: Financial Performance - Amazon announced a capital expenditure of $200 billion for the year, exceeding expectations by approximately $50 billion, raising concerns about the scale of investment [1] - The company's net sales exceeded expectations, but profits fell short, indicating potential pressure on future profitability due to its investment plans [1] Group 2: Market Reaction - Ipek Ozkardeskaya from Swissquote Bank noted that the market is not responding positively to the large scale of Amazon's spending [1]

Core Insights - UBS reported a total market value of $620 billion in Q4, reflecting a decrease of 5.65% from the previous quarter [3] - The firm made 1,347 new stock purchases and increased holdings in 4,181 stocks, while reducing holdings in 4,520 stocks and completely selling out of 1,188 stocks [3] - The top ten holdings accounted for 14.52% of the total market value [3] Top Holdings - NVIDIA (NVDA.US) is the largest holding with approximately 77.49 million shares valued at $14.45 billion, representing 2.34% of the portfolio, down 11.47% from the previous quarter [1][4] - Microsoft (MSFT.US) ranks second with about 28.04 million shares valued at $13.56 billion, making up 2.20% of the portfolio, a decrease of 7.64% [2][4] - Apple (AAPL.US) is third with around 44.55 million shares valued at $12.11 billion, accounting for 1.96% of the portfolio, down 10.57% [2][4] - Broadcom (AVGO.US) is fourth with approximately 23.77 million shares valued at $8.23 billion, representing 1.33% of the portfolio, an increase of 0.88% [2][4] - Amazon (AMZN.US) is fifth with about 34.61 million shares valued at $7.99 billion, making up 1.30% of the portfolio, down 4.57% [2][4] Notable Changes - UBS reduced its holdings in several tech stocks, including Micron Technology (MU.US) by 16.14%, TSMC (TSM.US) by 15.56%, Oracle (ORCL.US) by 1.91%, AMD (AMD.US) by 24.28%, and Western Digital (WDC.US) by 37.92% [5] - The firm slightly increased its position in Meta (META.US) by 0.85% among the "seven giants" [4] - New positions were established in Total (TTE.US) and increased holdings in Walmart (WMT.US), Alibaba (BABA.US), and Bitcoin holding company Strategy (MSTR.US) [5] Trading Activity - The top five purchases included Microsoft call options, SPDR S&P 500 ETF (SPY.US), MP Materials call options, UBS Group AG, and iShares 7-10 Year Treasury ETF put options [5][6] - The top five sales included SPDR S&P 500 ETF put options, Invesco QQQ Trust put options, iShares iBoxx High Yield Corporate Bond put options, Microsoft, and NVIDIA [5][6]