A股复盘 | 全球避险 / 2025.11.18 请停止砸盘，我需要养活我的家人 Please stop selling, I need to support my family 販売をやめてください，私は家族を養う必要があります 판매를 중단하세요 가족을 먹여 살려야 해요П 哈哈哈，开头先来个小玩乐，现在正式进入复盘！ 全球进入避险模式了，美股跌、日股跌、加密货币也跌，连黄金都跌！ 投资还是要跟随特朗普，人家之前买了不少债券！ 美国政府道德办公室周六披露的信息显示，美国总统唐纳德·特朗普在8月下旬至10月初期间至少购买了8200万美元的公司和市政债券，其 中包括受其政府政策影响的公司的债券。具体而言，特朗普购入的公司债发行主体包括英特尔、博通、高通、Meta等科技企业，家得宝、 CVS等零售企业，以及摩根大通、高盛、摩根士丹利等华尔街银行。 | Date Added | Title | 11 | Type | 11 | Name | Agency | J1 | Level | 11 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

格隆汇11月18日｜投行MoffettNathanson将Meta目标股价大幅下调140美元至750美元。 ...

What a time to be a contrarian! The economy is en fuego as AI boosts productivity (even if, yes, it's cooling payrolls). Yet the mainstream crowd is hunkered down, terrified of an AI bubble. That sets up some very attractive deals in 8%-paying closed-end funds (CEFs), many of which have gone on sale in the last few weeks. 2 'North Stars' Show Us What to Do Now To get a feel for the setup in front of us, all we need to do is look at two things. First, the Atlanta Fed's GDPNow indicator, the most current econ ...

来源：X研究媛 文｜JeffHill 从悲观到乐观 最近AI+AR 眼镜越来越热闹了，前有"掌握核心科技"的JBD获得天量融资，再有未披露具体金额却是行 业今年最大单笔融资的华南某企业，春江水终于暖了，也真心为一众AR创业公司庆幸。 作为曾在行业里两家标杆性公司工作的野生评论家，深知消费级AR极不成熟又身体力行的不易。 两年前，核心微显示屏和光机占了BOM成本一半，但是色彩、亮度始终不能匹配需求；近眼显示光学 方案复杂艰深且远未达成共识，量产一致性和良品率又十分感人，这些必须买单的高昂成本，成型终端 只有羸弱的场景和极为有限的扩屏和信息提示功能。 消费级AR不是真AR。要同时满足「消费级」、「AR」，那只能是假的。 一个代表，Video-See Through方案强大如苹果也难，无论光学模组、sensor、算法、算力再怎么推进， 本质上人类要适应"透过摄像头以望远镜方式"去观察世界（见文章），这似乎要等待智人完成进化， Apple Vision Pro在消费市场前景难测。 一群野蛮人，Optic-See Through方案乃至部分透光的BirdBath方案真正能被消费者接受，但做完整的AR 只有做成头盔，只能 ...

Core Insights - Duquesne Family Office, led by Stanley Druckenmiller, has sold its entire stake in Palantir Technologies while investing in three other AI-driven companies from the "Magnificent Seven" [2][6][13] Investment Activity - As of mid-2024, Duquesne held nearly 770,000 shares of Palantir, attracted by its unique AI-driven platforms [1] - Druckenmiller's investment strategy has consistently outperformed the S&P 500, managing over $4 billion in assets [2] - The recent 13F filings revealed significant trading activity, including the complete divestment from Palantir [3][4][6] Company Performance - Palantir's Gotham platform supports military operations, while Foundry aids businesses in data analytics [7] - The company has exceeded Wall Street's sales and profit forecasts, with shares increasing over 2,600% since the beginning of 2023 [7] - Despite this growth, Druckenmiller's exit from Palantir suggests a strategic decision beyond mere profit-taking [8] Market Sentiment and Valuation - Concerns exist regarding the sustainability of Palantir's high valuation, with a price-to-sales (P/S) ratio of 114, significantly above the historical average for tech companies [11][17] - The potential for an AI bubble-bursting event could negatively impact Palantir's stock, as history shows early-stage technologies often face such challenges [10] Alternative Investments - Druckenmiller has shifted focus to three AI companies—Amazon, Alphabet, and Meta—that are enhancing their platforms with AI while maintaining more reasonable valuations [13][16] - These companies are valued at forward cash flow multiples of 12 to 18, contrasting sharply with Palantir's nearly 153 forward-year cash flow multiple [16][17]

闫德利 腾讯研究院 资深专家 硅谷裁员的三个片面认识 硅谷十万大裁员的消息引起了人们关注。根据Layoffs.fyi数据，今年以来美国科技行业裁员已接近 11万人。 实际上，大裁员不是今年才发生，已经持续4年之久。今年的裁员数量是4年来 最少的，不及2023年的一 半。如下图所示。 这是第一个片面认识——只看今年，不看往年。 图 近四年美国科技行业裁员人数和涉及公司数量 注：2025年数据截止11月10日。来源：Layoffs.fyi 第二个片面是：只看裁员，不看招聘。 裁员是真实发生的，但招聘也同时进行。最终结果是，近两年美国 主要科技公司雇员规模稳中有进，Alphabet、微软和Netflix的当前雇员数量甚至处于历史最高水平。这说明 近两年的招聘数超过了裁员数。如下图所示。 图 各季度末美国科技公司的雇员数量 备注：Salesforce用1月31日数据代替一季度末数据。 数据来源：根据公司财报整理。 第三，只看疫情后裁员，不看疫情中招聘。 为应对疫情冲击和在线需求增加，美国科技公司疯狂招聘。 2019年底到2023年，苹果、亚马逊、Meta、微软和Alphabet总共增加90多万个就业岗位（来源：纽约时 ...

Core Viewpoint - The semiconductor sector is experiencing growth despite a general market decline, driven by increased investments in AI infrastructure by major tech companies [1] Group 1: Market Performance - Major stock indices continued to decline, while the semiconductor materials ETF rose by 1.68% as of 14:30 [1] - Notable gains were observed in individual stocks, with North China Innovation rising by 5.65%, Tuojing Technology by 4.50%, and Zhongwei Company by 3.57% [1] Group 2: Investment Trends - Major tech companies, including Meta, Google, Amazon, and Microsoft, are expected to invest over $400 billion in AI infrastructure next year, representing a 21% increase compared to 2025 [1] - Meta's spending in AI infrastructure is projected to reach $72 billion this year, with further increases planned for next year [1] - Google plans to invest $40 billion in building three new data centers in Texas, with the investment extending until 2027 [1] Group 3: Industry Outlook - According to Everbright Securities, the demand for AI computing power, data centers, and smart driving is driving the expansion of the semiconductor industry [1] - The construction of advanced wafer processing capacity is accelerating, contributing to steady growth in the semiconductor materials market [1] - There is a continued demand for specific materials such as photoresists, wet electronic chemicals, and electronic specialty gases, indicating a phase of demand expansion and domestic production resonance in the semiconductor materials sector [1] - Companies with technological advantages and customer validation in core material areas like photoresists, wet electronic chemicals, electronic specialty gases, and CMP are recommended for attention [1]

Market Analysis by covering: Home Depot Inc, T-Mobile US Inc, Meta Platforms Inc. Read 's Market Analysis on Investing.com ...

Multiple subsea internet cables slated to run through the Red Sea are yet to complete as planned, as political tensions and heightened security threats have made the route more dangerous and complicated for commercial vessels. Meta Platforms Inc.’s 2020 plans for 2Africa, a 45,000-kilometer (28,000 mile) subsea cable system, included a map showing how it would loop around the African continent to deliver vital high-speed connectivity. As the company and its partners ready to declare the project complete, a ...

Core Insights - Meta Platforms has solidified its position as one of the most dominant technology companies globally, driven by a massive user base and continuous improvements in its offerings [1]. Company Overview - The company is focused on enhancing its technology infrastructure, particularly in areas such as AI and cloud computing, which are critical for digital transformation [1]. Investment Perspective - The analysis emphasizes the importance of understanding both the fundamentals of Meta's business and its future growth trajectory to identify potential investment opportunities [1].