Disney and YouTube TV have reached a carriage agreement, ending a pitched battle that dragged on for 15 days, frustrating consumers and fascinating the media business. Included in the multi-year pact are carriage of ABC and ESPN, a portfolio of other networks. The Unlimited tier of ESPN’s new direct-to-consumer streaming outlet will also be included at no extra charge for YouTube TV’s 10 million subscribers. The “duo bundle” of Disney+ and Hulu will also be made available in “select YouTube offerings,” the ...

Core Viewpoint - Alphabet and Disney have reached an agreement to restore ABC and ESPN content on YouTube TV after a two-week standoff, which had resulted in the absence of several live sporting events from the platform [1][2]. Group 1: Agreement Details - The agreement allows subscribers to see channels like ABC, ESPN, and FX returning to YouTube TV, along with previously recorded content [2][3]. - YouTube TV offered $20 credits to subscribers during the dispute due to the removal of over 20 Disney-owned channels, including FX, NatGeo, Disney Channel, and Freeform [3]. Group 2: Financial Aspects - The main issue in negotiations was the rate Disney charges YouTube TV for its networks, with ESPN charging over $10 per month per pay-TV subscriber, the highest fee among U.S. networks [4]. - YouTube TV has the option for future program packages with Disney and other partners, indicating potential for further negotiations [6]. Group 3: Industry Context - This incident is part of a broader trend where YouTube TV has faced similar disputes with other media companies, including NBCUniversal and Fox, highlighting ongoing tensions between streaming services and traditional media [5].

伯克希尔出手科技股！ 北京时间11月15日，巴菲特旗下伯克希尔·哈撒韦公司披露2025年第三季度持股报告（13F）。在巴菲特 宣布将于今年底正式交班后，伯克希尔在第三季度出手买入美国大型科技股——谷歌-A。与此同时， 伯克希尔继续减持苹果股票，且第三季度总体为股票净卖出。 伯克希尔2025年三季度持股变动概览 | 2025-09-30 | | 2025-09-30 | | 2025-09-30 | | | --- | --- | --- | --- | --- | --- | | Top Buys (13F) | | Top Sells (13F) | | 13F Holdings Summary | | | BY CHANGE IN % PORTFOLIO | | BY CHANGE IN % PORTFOLIO | | Name | % of | | | | | | | Portfolio | | Name | 96 | Name | 9/a | | | | Change | | | Change | AAPL Apple Inc. | 22.69% | | GOOGL Alphabet | 1.62% ...

伯克希尔出手科技股！ 北京时间11月15日，巴菲特旗下伯克希尔·哈撒韦公司披露2025年第三季度持股报告（13F）。在巴菲特 宣布将于今年底正式交班后，伯克希尔在第三季度出手买入美国大型科技股——谷歌-A。与此同时， 伯克希尔继续减持苹果股票，且第三季度总体为股票净卖出。 | 2025-09-30 | | 2025-09-30 | | 2025-09-30 | | | --- | --- | --- | --- | --- | --- | | Top Buys (13F) | | Top Sells (13F) | | 13F Holdings Summary | | | BY CHANGE IN % PORTFOLIO | | BY CHANGE IN % PORTFOLIO | | Name | % of | | | | | | | Portfolio | | Name | 9/2 | Name | 9/a | | | | Change | | | Change | AAPL Apple Inc. | 22.69% | | GOOGL Alphabet | 1.62% | VRSN VeriSign In ...

Core Insights - The AI + AR glasses market is experiencing a shift from pessimism to optimism, highlighted by significant financing events for key players like JBD and a major undisclosed investment in a South China company [2] - Consumer-grade AR technology remains immature, with high costs and limited functionality, making it challenging for companies to deliver viable products [3][4] - The emergence of large language models (LLMs) has created new opportunities for product combinations and functionalities in consumer-grade AR, positioning it as a key hardware paradigm for AI applications [4][5] Industry Developments - Major tech companies such as Meta, Google, Microsoft, and Apple are heavily investing in R&D and acquiring key technologies to prepare for the upcoming market surge in AI + AR [7] - Meta's Ray-Ban and Orion products exemplify successful integration of audio and AI, with innovative optical designs that enhance user experience [7][9] - The four leading Chinese AR companies are navigating a complex landscape, with varying degrees of success and innovation in their product offerings [6][10][11][12][13] Technological Advancements - Advances in cloud-based large models and AI capabilities are expected to simplify the complexity and cost of AR functionalities, potentially leading to a new generation of consumer electronics [5][16] - The industry is witnessing a convergence of hardware and software, with a focus on creating unique user experiences that cannot be easily replicated by competitors [16][18] - The foundational technologies, such as micro LED displays and optical components, remain critical for the success of AR products, with companies needing to establish strong supply chains and proprietary technologies [14][19] Market Outlook - The consumer-grade AR market is gradually maturing, with increasing investment and interest from venture capital, indicating a potential for significant growth [19] - The integration of AI into AR devices is seen as a transformative opportunity, with the potential to create a multi-trillion-dollar market [19] - The competitive landscape is expected to intensify as established tech giants and agile startups vie for dominance in the evolving AR ecosystem [17][19]

美东时间11月14日周五，美股三大指数收盘涨跌不一，美国劳工统计局将9月份的就业报告推迟到下周四公布。美国最大电信运营商拟裁员约1.5万人。地 缘政治风险加剧推高油价。 三大指数涨跌不一 美国三大股指收盘涨跌不一。道指跌0.65%，报47147.48点；标普500指数跌0.05%，报6734.11点；纳指涨0.13%，报22900.59点。 本周，道指涨0.34%，标普500指数涨0.08%，纳指跌0.45%。 由于政府"停摆"，劳工统计局调整了经济数据更新时间表，并计划于11月21日发布9月通胀调整后的工资数据，所有报告将在华盛顿时间上午8点30分公 布。 分析公司估算显示，上周美国首次申领失业救济金人数或小幅下降，经季节性调整后从22.89万人降至22.75万人，表明劳动力市场保持稳定，或为美联储 下月维持利率提供支持。 堪萨斯联储主席施密德表示，进一步降息可能会加深高通胀风险，而非有效支撑劳动力市场。这一考量正引导他为美联储12月政策会议作准备，但他未来 几周仍会根据新数据调整看法。施密德重申，目前利率仅对经济造成温和压力，他认为这"恰到好处"。 谷歌表示，愿意调整其广告技术（Adtech）业务政策，以 ...

Market Overview - The U.S. stock market experienced mixed results, with major indices showing varied performance amid concerns that the Federal Reserve may not lower interest rates in the upcoming meeting [1] - The Dow Jones Industrial Average fell by 309.74 points, a decrease of 0.65%, closing at 47,147.48 points; the Nasdaq rose by 30.23 points, an increase of 0.13%, closing at 22,900.59 points; the S&P 500 dropped by 3.38 points, a decrease of 0.05%, closing at 6,734.11 points [1] Oil Market - Oil prices surged over 2% due to supply concerns following a drone attack on a key Russian energy hub, halting oil exports from Novorossiysk [2] - West Texas Intermediate (WTI) crude oil for December delivery rose by $1.40, or 2.39%, to $60.09 per barrel; Brent crude settled at $64.39 per barrel, up $1.38, or 2.19% [2] Cryptocurrency Market - Bitcoin plummeted over 5%, falling below $95,000; Ethereum also declined by over 3.8%, trading at $3,108.93 [3] Precious Metals - Spot gold fell by 2.06% to $4,085.37, despite a weekly increase of 1.98%; COMEX gold futures dropped by 2.70% to $4,081.00 per ounce, with a weekly gain of 1.75% [4] - Spot silver increased by 4.65% to $50.5723 per ounce, while COMEX silver futures rose by 4.73% to $50.420 per ounce [4] Economic Data - The U.S. Census Bureau plans to release delayed economic data next week, including construction spending, factory orders, and international trade figures [5] - The Federal Reserve's Logan indicated difficulty in supporting a rate cut in December unless compelling evidence of declining inflation is presented [5] Automotive Industry - The number of Americans defaulting on auto loans has reached a record high, raising concerns about the stability of subprime auto lenders following the recent failures of Tricolor Holdings and PrimaLend Capital Partners [8] - Investors are demanding approximately 50 basis points more in yield for the lowest-rated portions of subprime auto asset-backed securities (ABS), pushing the average risk premium to about 170 basis points, the highest since May [8] Company News - Google plans to invest $40 billion in three new data centers in Texas by 2027, which is expected to create thousands of jobs and provide training for students and apprentices [9] - Citigroup raised the target price for Bilibili (BILI.US) from $25 to $27, while Morgan Stanley increased the target price for Nvidia (NVDA.US) from $210 to $220 [10]

持仓文件显示，在今年底"退休"进入倒计时之际，"股神"巴菲特领导的伯克希尔·哈撒韦公司调整了对美国科技巨头的押注。 美东时间14日周五美股盘后，伯克希尔公布递交美国证监会SEC的13F文件，显示今年第三季度伯克希尔最大的个股持仓集中在两家科技巨头——苹果和谷 歌母公司Alphabet。其中，苹果进一步被抛售，Alphabet则是被建仓。 评论称，考虑到巴菲特传统的价值投资理念以及他对高增长科技股的谨慎态度，建仓Alphabet的举动令人颇感意外。 连续两季抛苹果 三季度抛售股份翻倍 13F文件显示，伯克希尔三季度减持苹果（AAPL）约4179万股，持股数较二季度末环比减少逾14.9%，持仓市值减少约106亿美元。 从13F文件的数据看，这是伯克希尔连续第二个季度抛售苹果，而且三季度的抛售力度较二季度明显加码。三季度减持苹果股份数约为二季度2000万股的两 倍多，持仓市值下降的规模约为二季度的2.6倍。这一力度超出了媒体此前预估。华尔街见闻此前提到，媒体最近估算，伯克希尔三季度可能减持约3500万 股苹果。 但由于苹果股价三季度累涨约24%，苹果在伯克希尔三季度总持仓中占比还从二季度的22.31%略为升至22. ...

巴菲特曾在2018年回顾说："我亲眼看到了产品的效果，也知道它的利润率。但我当时不够了解科技行 业，不确定它能否成为最终胜出的那一家。" 来源：智通财经网 周五，巴菲特旗下伯克希尔哈撒韦(BRK.A.US,BRK.B.US)在最新监管申报文件中披露，于今年三季度末 新建仓谷歌母公司Alphabet(GOOGL.US)，持仓规模达43亿美元，使其跻身伯克希尔第十大股票投资。 这一动作引发市场关注，因为巴菲特以"价值投资"著称，长期对高成长科技股态度谨慎。 市场普遍认为，此次买入或来自伯克希尔的两位投资经理Todd Combs与Ted Weschler。他们近年来更积 极布局科技板块，曾于2019年率先买入亚马逊(AMZN.US)，使伯克希尔现仍持有约22亿美元的亚马逊 股份。 今年以来，Alphabet股价累计大涨46%，受益于人工智能需求强劲，推动云计算业务持续增长。值得注 意的是，巴菲特曾坦言自己当年未投资谷歌是"错失良机"，早在谷歌广告业务起飞初期，伯克希尔旗下 的保险公司Geico就是其早期广告客户。 尽管增持Alphabet，伯克希尔三季度仍继续大幅削减苹果(AAPL.US)持仓，再度抛售约15%，目 ...

智通财经APP获悉，周五，巴菲特旗下伯克希尔哈撒韦(BRK.A.US,BRK.B.US)在最新监管申报文件中披 露，于今年三季度末新建仓谷歌母公司Alphabet(GOOGL.US)，持仓规模达43亿美元，使其跻身伯克希 尔第十大股票投资。这一动作引发市场关注，因为巴菲特以"价值投资"著称，长期对高成长科技股态度 谨慎。 市场普遍认为，此次买入或来自伯克希尔的两位投资经理Todd Combs与Ted Weschler。他们近年来更积 极布局科技板块，曾于2019年率先买入亚马逊(AMZN.US)，使伯克希尔现仍持有约22亿美元的亚马逊 股份。 今年以来，Alphabet股价累计大涨46%，受益于人工智能需求强劲，推动云计算业务持续增长。值得注 意的是，巴菲特曾坦言自己当年未投资谷歌是"错失良机"，早在谷歌广告业务起飞初期，伯克希尔旗下 的保险公司Geico就是其早期广告客户。 | | | | 7o Chairige | | --- | --- | --- | --- | | | | Value | in no. of | | Company | Ticker | ($billion) | shares | | ...