智通财经APP获悉，摩根士丹利援引半导体行业顶级贸易机构数据指出，11月全球半导体销售略有放 缓，但存储芯片市场依旧表现亮眼。 据美国半导体行业协会(SIA)数据，11月半导体销售额环比增长7.1%，低于摩根士丹利此前预测的 10.4%，但显著高于10年历史均值2.5%。这家投行补充称，该指标三个月同比增速攀升至29.8%，较此 前的27.2%进一步加快;单月同比增幅更是飙升至29.5%。 分析师对此表示："当前市场的核心背景是，芯片供应严重短缺迫使行业增长节奏更趋平稳，而12月芯 片价格已出现实质性大幅上涨。" 模拟芯片板块在11月同样表现疲软，销售额环比下滑4.4%，降幅超出摩根士丹利预测的3%，也高于10 年历史均值的3.2%。量价方面，销量环比下降2.4%，差于历史均值2%的降幅;平均售价环比下跌2.1%， 跌幅同样大于历史均值的1.2%。 微控制器同样未达预期，销售额环比大跌7.3%，大幅落后于分析师预测的零增长，也显著低于历史均 值0.6%的降幅。其中销量环比暴跌9.2%，远差于历史均值2.9%的降幅;平均售价环比下降2%，略优于历 史均值2.8%的跌幅。 微处理器销量基本符合预期，环比微降0.3 ...

A fresh look at global semiconductor supply chains is reshaping analyst views as hyperscaler demand accelerates and memory constraints tighten across the industry. • Advanced Micro Devices shares are climbing with conviction. What’s driving AMD stock higher?Hyperscalers Tighten Memory Supply, Prices RiseAfter a recent Asia trip, KeyBanc analyst John Vinh updated several semiconductor ratings and forecasts, pointing to hyperscaler-driven demand that is tightening memory supply and reshaping winners and loser ...

Key Points Semiconductor stocks have been some of the hottest performers of the AI revolution. Broadcom is uniquely positioned to benefit from secular tailwinds fueling investments across the AI infrastructure value chain. Broadcom stock is trading at a modest valuation and looks poised for a breakout. 10 stocks we like better than Broadcom › The artificial intelligence (AI) revolution has transformed companies in just about every major sector of the economy. In the technology industry, no compa ...

Core Insights - The tech sector is expected to remain a key player in 2026, with several growth stocks poised for significant returns [2] Company Summaries Alphabet Inc. (GOOGL) - Alphabet has reached a valuation of $4 trillion, with a stock price increase of 73% over the past year, currently trading at $332 [3] - The integration of Google's Gemini AI into Apple devices marks a significant collaboration, enhancing scalability and monetization opportunities [4] - In Q3, Alphabet's revenue grew 16% year over year to $102.3 billion, driven by Google Search ($56.6 billion, up 15%), YouTube advertising ($10.3 billion, up 15%), and subscriptions/platforms ($12.9 billion, up 21%) [5] - The cloud computing segment saw a 34% revenue increase to $15.2 billion, with a backlog of $155 billion, indicating strong future growth [6] MercadoLibre (MELI) - MercadoLibre, often referred to as the Amazon of Latin America, has seen a stock price increase of 23.56% this year, currently priced at $2,149 [7] - The company reported 77 million active buyers in Q3, a 26% increase, and a 39% increase in items sold [8] - Revenue from the advertising segment jumped 63%, with technology investments improving cost efficiency and margins [9] - MercadoLibre has over 72 million active monthly users in its fintech services, reflecting a 29% increase, and is positioned for continued growth in both e-commerce and financial sectors [10] Broadcom (AVGO) - Broadcom's stock has gained 56% over the past year, currently trading at $352 [11] - The company specializes in mainframe software, cybersecurity, and customized computing units, positioning itself as an alternative to Nvidia [12] - In Q4, Broadcom's semiconductor revenue reached $6.5 billion, a 74% year-over-year increase, contributing to an overall revenue of $18 billion, up 28% [13] - The AI semiconductor segment accounts for over a third of total revenue, with expectations of 100% growth in Q1, indicating strong potential for 2026 [14]

On Dec. 11, 2025, Broadcom Inc. ( AVGO ) reported its fourth-quarter and full-year 2025 earnings. Revenue for the quarter hit $18.02 billion, outpacing estimates by 3.18% . Meanwhile, adjusted EPS came in at $1.95, which also toppedRick is a Wall Street Journal best-selling author with over 20 years of experience trading stocks and options. The most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News, cover his work. ...

On Dec. 11, 2025, Broadcom Inc. ( AVGO ) reported its fourth-quarter and full-year 2025 earnings. Revenue for the quarter hit $18.02 billion, outpacing estimates by 3.18% . Meanwhile, adjusted EPS came in at $1.95, which also toppedRick is a Wall Street Journal best-selling author with over 20 years of experience trading stocks and options. The most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News, cover his work. ...

Core Viewpoint - The article discusses the performance and valuation of Broadcom, Inc. (NASDAQ: AVGO), highlighting a recent rally in the stock price from previous lows recorded in August 2025 [1]. Group 1: Company Performance - Broadcom's stock was experiencing a significant rally, indicating positive market sentiment and potential investor confidence [1]. Group 2: Valuation Insights - The article previously assigned a "buy" rating to Broadcom, suggesting that the stock was considered a favorable investment opportunity at that time [1].

When I last covered Broadcom, Inc. (NASDAQ: AVGO ) on August 31st, 2025 (with a “buy” rating) in my article “Broadcom: Premium Valuation, Premium Risks,” the stock was rallying hard from the lows that were recorded during theAnalyst’s Disclosure:I/we have a beneficial long position in the shares of AVGO, NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I h ...

Summary of Earnings Season Preview for 4Q25 Industry Overview - The report focuses on the S&P 500 index and its earnings performance for the fourth quarter of 2025 (4Q25) - The technology sector, particularly the "Big 6 Tech+" companies, is highlighted as a key driver of earnings growth Core Insights and Arguments - **Earnings Growth Projections**: - S&P 500 EPS is forecasted to grow by 8.8% in 4Q25, with expectations that it may finish closer to 12.2% due to historical trends and potential earnings beats [1][10][20] - The technology sector is expected to lead with an EPS growth of 21.5%, significantly outpacing the rest of the S&P 500, which is projected to grow at only 1.4% [9][10] - **Sector Performance**: - Eight out of eleven sectors are anticipated to show positive growth, with the technology sector being the standout performer [1] - The materials sector is expected to see an EPS increase of 8.8% in 4Q25, with a forecasted acceleration to 20.9% for the full year 2026 [9] - The industrials sector is projected to contract with an EPS growth of -2.4%, heavily influenced by Boeing's performance [9] - Financials, which had strong growth in previous quarters, are expected to moderate to 6.7% this quarter [9] - **Earnings Revisions**: - Revisions for S&P 500 earnings are slightly above historical trends, particularly driven by the technology sector [2] - The consensus for 2026 EPS expectations for S&P 500 ex-Tech+ has remained stable since June, contrasting with typical declines [2] - **Early Reporters**: - Early reporting companies have exceeded EPS estimates by 14.3%, significantly above the historical average of 4.9% [3][39] Additional Important Insights - **Margin Expectations**: - S&P 500 margins are expected to increase by 70 basis points, the lowest expectations since 2Q23, with anticipated margin contractions in several sectors including telecom and healthcare [2] - **Top Contributors and Detractors**: - Notable contributors to EPS growth include NVIDIA (EPS growth of 70.7%), Microsoft (22.7%), and Alphabet (22.0%) [28] - Detractors include Uber (-75.8%), UnitedHealth Group (-69.1%), and Ford (-73.5%) [29] - **Market Dynamics**: - The report indicates a potential setup for a low bar in earnings expectations, particularly for sectors outside of technology [9][22] - **Future Outlook**: - The broader S&P 500 is expected to see a full-year EPS growth of 10% for 2026, with technology continuing to drive significant growth [9] This summary encapsulates the key points from the earnings season preview for 4Q25, highlighting the expected performance of the S&P 500 and its sectors, particularly the technology sector's influence on overall market growth.

ANCHOR REPORT Global Markets Research 9 January 2026 Global AI networking supercycle driven by tech upgrade/supply shortage Accumulate market leaders InnoLight, YOFC, TFC and T&S We believe the global AI networking supercycle will continue in 2026F, and even extend into 2027F, driven by multiple technology upgrade roadmaps (i.e. Silicon Photonics [SiPh], Co-package optics [CPO], Optical Circuit Switch [OCS], Active Electronic Cable [AEC], Hollow Core Fiber [HCF]) and supply shortage (i.e. optical laser chip ...