作者丨 特约撰稿王应贵 编辑丨李莹亮 据券商中国， 美联储将在下周（1月27日至28日）召开议息会议，并将于下周四（1月29日） 公布利率决议。 目前市场普遍预期美联储将在此次会议上暂停降息。 据CME"美联储观察"， 截至目前， 美联储1月降息25个基点的概率仅有4.4%，维持利率不变的概率达95.6%。 截至1月25日22:30发稿，加密货币行情继续下挫，据CoinGlass数据统计 ，在1月24日拉升站 上90000美元后， 1月25日，比特币延续下行走势，在8.8万至9万美元区间震荡博弈， 本周内 跌幅达7.3%，年内涨幅接近归零。 比特币带动下，加密货币 几乎全线下跌 。 以太坊跌破 3000美元，跌幅近1%，BNB、狗狗币跌幅1.41%，最近24小时，全球共有近10万人被爆仓， 爆仓总金额为$1.21亿。 | | 排名 | 而秤 | 价格 | 价格(24h%) | | --- | --- | --- | --- | --- | | ಗ | 1 | ਵਿ BTC | $88344.4 | -1.38% | | ಳ | 2 | ETH | $2930.81 | -0.96% | | 87 | 3 | ...

Core Insights - The article discusses the emergence of Micron Technology as a potential member of the trillion-dollar club in the AI chip industry, alongside established players like Nvidia, TSMC, and Broadcom [1][2][3]. Industry Overview - The AI revolution has significantly transformed the semiconductor industry, with companies like Nvidia, TSMC, and Broadcom evolving from cyclical chip businesses to trillion-dollar enterprises [1][2]. - The demand for AI infrastructure is expected to grow, driven by hyperscalers such as Microsoft, Alphabet, Amazon, and Meta Platforms, which are investing heavily in advanced AI applications [5][6]. Micron Technology's Position - Micron Technology is positioned to benefit from the increasing demand for high-bandwidth memory (HBM), dynamic random access memory (DRAM), and NAND chips, which are essential for efficient data processing in AI workloads [6][10]. - The company reported a revenue of $13.6 billion for its first fiscal quarter of 2026, marking a 57% year-over-year increase, with strong performance across all core segments [9]. Market Dynamics - Prices for DRAM and NAND chips are projected to rise significantly, with increases of up to 60% and 38% respectively in the first quarter, driven by surging demand from hyperscalers [8]. - The total addressable market for HBM is expected to reach $100 billion by 2028, indicating substantial growth potential for Micron [10]. Financial Projections - Analysts predict that Micron's revenue will more than double by fiscal 2027, with earnings per share (EPS) potentially surging nearly fourfold [12]. - Despite strong growth prospects, Micron currently trades at a forward price-to-earnings (P/E) multiple of 12.3, which is significantly lower than other chip leaders [14]. Valuation Potential - If Micron's P/E ratio aligns more closely with industry peers, an implied market cap of approximately $850 billion could be achieved, with a forward earnings multiple of 30 potentially leading to a $1 trillion valuation [16]. - The long-term outlook for Micron is positive, with the AI infrastructure market representing a multiyear, multitrillion-dollar opportunity [17].

Core Viewpoint - The semiconductor industry is witnessing a shift in AI processing preferences, with Broadcom gaining traction over Nvidia due to its energy-efficient ASICs, which are becoming increasingly favored in data centers [1][2][4]. Company Performance - Broadcom's fourth-quarter revenue reached a record $18 billion, marking a 28% year-over-year increase, with adjusted earnings per share (EPS) rising 37% to $1.95, driven significantly by AI semiconductor sales, which surged 74% to $6.5 billion [5]. - The company anticipates continued growth in AI semiconductor revenue, projecting over 100% growth to $8.2 billion in the first quarter, fueled by demand for AI accelerators and Ethernet AI switches [6]. Market Dynamics - The initial dominance of Nvidia's GPUs in AI processing is being challenged as data center operators seek more energy-efficient solutions, leading to a shift towards Broadcom's ASICs, which, while less flexible, are tailored for specific tasks [3][4]. - Cathie Wood's Big Ideas 2026 report supports the notion that ASICs from companies like Broadcom will capture market share as AI labs and hyperscalers look for cost-effective computing solutions [8][9]. Investment Outlook - Broadcom's stock is currently trading at 31 times forward earnings, which is lower than Nvidia's multiple of 39, indicating a potentially attractive valuation in the AI chip market [10]. - The AI infrastructure investment is projected to exceed $1.4 trillion by 2030, highlighting the significant growth opportunity within the sector [9].

华尔街顶级投资机构KeyBanc Capital Markets近日发布研报称，全球半导体行业有望迎来需 求更加强劲的一年， 并且特别指出在全球范围AI算力基础设施建设浪潮如火如荼以及"存储芯片 超级周期"宏观背景之下，半导体设备厂商们也将迎来超级周期，它们将是AI芯片(涵盖AI GPU/AI ASIC)与DRAM/NAND存储芯片产能急剧扩张趋势的最大规模受益者。 另一华尔街巨头花旗集团近期发布的一份研报同样显示， 半导体设备板块乃AI算力与存储需求爆 表之下的最大赢家之一，花旗在这份研报中预测，全球半导体设备板块将迎来"Phase 2 牛市上 行周期"，也就是说继2024-25年的超级牛市之后有望迎来新一轮牛市轨迹 。花旗发布的这份研 报显示，2026年的芯片股主线投资策略绝对不是"泛泛看多半导体"， 而是明确落在半导体设备 龙头领域(即WFE相关)——即阿斯麦、泛林集团以及应用材料。 花旗分析师团队表示，"Phase 2 上行周期"意味着估值锚从"估值触底修复"转向"盈利持续上 修"：当WFE总盘子从基准情景往牛市情景偏移时，半导体设备领域龙头公司盈利弹性甚至有可 能大于营收弹性(规模效应+产能利用率提 ...

Fidelity Investments said on Friday it had reached an agreement to settle a lawsuit accusing Broadcom of threatening to cut off its access to software that had become central to the financial firm's... ...

Key Points Broadcom stock retreated in today's trading after Intel reported earnings. The market is split on how to value AI demand growth. 10 stocks we like better than Broadcom › Broadcom (NASDAQ: AVGO) stock slipped in Friday's trading. The semiconductor company's share price ended the daily session down 1.5% and had been down as much as 3.5% earlier in trading. The S&P 500 closed the day up 0.2%, and the Nasdaq Composite was up 0.6%. Broadcom's valuation today lost ground today in response to a ...

Key Points Broadcom expects strong growth from its custom AI accelerators. Custom AI accelerator revenue is expected to double in Q1. 10 stocks we like better than Broadcom › Few stocks had as strong a 2025 as Broadcom (NASDAQ: AVGO). Broadcom's stock caught fire following the tariff announcement recovery, and finished the year up 49.3%. While 2025 was great, investors need to look forward and see if it's worth buying more shares now or if there is another compelling investment opportunity. I thi ...

Broadcom Inc (NASDAQ:AVGO) experienced a significant Power Inflow alert, a key bullish indicator that is closely tracked by traders who value order flow analytics, specifically institutional and retail order flow data.On January 23 at 10:30 AM EST, AVGO triggered a Power Inflow signal at a price of $317.17. AVGO's price in the opening hour of trading had been mostly stagnant, even dropping slightly prior to the signal. At the time of the signal, and then thereafter, both retail and institutional trading int ...

Cathie Wood, head of Ark Investment Management, targets "disruptive" tech companies and actively manages her positions. She often adds shares when prices fall and trims positions when they rise. Recently, she made a notable purchase of an AI stock during a pullback. Wood gained a reputation after the Ark Innovation ETF delivered a 153% return in 2020. Last year, the flagship Ark Innovation ETF (ARKK) gained 35.49%, far outpacing the S&P 500’s return of 17.88% in the same period. Wood’s style brings swee ...

1月23日，美股开盘涨跌不一，纳指微涨， 道指、标普500指数均下跌。盘初纳指迅速转跌，截至发 稿，道指跌0.5%，纳指跌0.12%，标普500指数跌0.17%。 | 美股指数 已 | | | | --- | --- | --- | | 道琼斯工业 | 纳斯达克指数 | 标普500 | | 49137.34 | 23407.04 | 6901.67 | | -246.67 -0.50% | -28.98 -0.12% | -11.68 -0.17% | | 纳斯达克100 | 中国余龙 | 中概股100 | | 25461.27 | 7891.98 | 2968.01 | | -57.08 -0.22% | -7.11 -0.09% | +0.54 +0.02% | 半导体板块走弱，英特尔大跌近15%，闪迪、西部数据跌超4%，博通跌超3%，美光科技、高通均下 跌。 | 英特尔(INTEL) | 46.310 | -14.75% | | --- | --- | --- | | US INTC | | | | 闪迪 | 480.050 | -4.65% | | US SNDK | | | | 西部数据(WESTE ...