Tech stocks came under serious selling pressure on Friday with the market concerned about Oracle’s (ORCL) debt issuance and general AI capital expenditures. With those risk factors in play, it might be worth looking for some bearish option trade ideas. More News from Barchart One way to use options to profit from declining stock prices is via a bear call spread. A bear call spread is a type of vertical spread, meaning that two options within the same expiry month are being traded. One call option is ...

美股大型科技股盘前涨跌互现，英伟达涨0.7%，特斯拉涨0.5%，亚马逊涨0.4%，谷歌A涨0.2%， Meta、苹果持平，微软跌0.1%。 本文源自：金融界AI电报 ...

近期，英伟达、甲骨文和博通等公司相继发布了强劲的季度业绩，但其股价却出现显著下跌。这一现象引发了市场对人工智能投资热潮可持续性的广泛关 注。 上周五，甲骨文、英伟达及博通等自2022年末以来深度参与AI投资的公司股价集体下挫。Callodine Capital Management的首席执行官Jim Morrow表示：市场 正处在"关键时刻"。"故事讲得很好，逻辑也通顺，但现在到了检验投资回报是否足够好的重要节点。"他说道。 这种焦虑情绪的核心在于，高昂的AI应用开发与训练成本，能否通过大规模落地产生足够的商业回报，以及企业和消费者是否愿意持续为相关服务买单。 甲骨文的情况尤为典型，该公司披露其剩余履约义务同比激增438%至5230亿美元，其中约3000亿美元来自与OpenAI的长期算力采购协议。然而，为支撑此 类订单所需的巨额资本开支，给公司现金流带来了压力。与此同时，衡量其信用风险的信用违约互换价格已升至2009年以来的最高水平。甲骨文发言人表 示，公司对履行义务和未来扩张计划的能力充满信心。 OpenAI自身的财务状况也加剧了市场的担忧。有报道称，该公司预计到2029年前将累计消耗1150亿美元资金，并 ...

Technology – Software & Services | Europe December 14, 2025 12:01 PM GMT Weekly Reboot – Oracle results spark investor concerns This week, we share key research from our global MS colleagues, including on latest results from Oracle and Adobe. We also share perspectives on Microsoft's recent M365 price increases, key catalysts for Meta to outperform in 2026, and the rising importance of cyber risk management. Read-across and other relevant research: Oracle Corporation: 2Q26 Results – Resumption of Disbelief? ...

责任编辑：栎树 知情人士透露，裁员计划最早可能于下月实施，将波及10%至30%的VR部门员工。虽然裁员人数尚未 最终确定，但这显示Meta正在重新调整策略方向。Meta发言人Nissa Anklesaria也在声明中证实：我们正 在调整Reality Labs的投资组合，将部分资源从元宇宙转向AI眼镜和可穿戴设备。她强调，公司目前没 有计划进行其他更大规模的变革。 12月15日，据Business Insider，Meta近日宣布，将对Reality Labs旗下元宇宙相关部门进行裁员，并将更 多资源投入到AI智能眼镜与可穿戴设备。 美股频道更多独家策划、专家专栏，免费查阅>> ...

转自： 新智元（ID：AI_era） 扎克伯格的「元宇宙」执念终于向现实低头， Meta 计划削减该部门人力，将资源全面倾斜至销量意外火爆的 AI 智能眼镜。在 Reality Labs 四年烧掉 700 亿美元后，伴 随着竞争对手的退潮， Meta 决定不再死磕笨重的 VR 头显。为了打赢这场新的战役，扎克伯格甚至挖来了前苹果资深设计师，试图让可穿戴设备真正成为时尚单品。 扎克伯格宏大的「元宇宙」愿景，正式宣告大败局。 据三位知情人士透露，Meta正在酝酿对其Reality Labs（现实实验室）旗下的元宇宙相关部门进行裁员。 | Meta's Zuckerberg Plans Deep | | --- | | Cuts for Metaverse Efforts | | Meta 公司的扎克伯格计划大幅削减元宇 | | 宙项目投入 >公众号·新智元 | 这把「手术刀」最早可能在下个月落下，预计将波及该部门10%到30%的员工。 该部门主要负责VR头显以及基于VR的社交网络开发。 尽管具体的裁员人数仍在变动中，但这无疑是一个明确的信号。 需要厘清的是，Meta并没有打算彻底放弃建造元宇宙的梦想。 与其说是撤 ...

Investment Rating - The report provides a positive investment outlook for the S&P 500 index, predicting it will reach 7600 points by 2026, driven by economic growth and artificial intelligence applications [1][15]. Core Insights - Strong earnings growth is expected to be the main driver for the S&P 500 index's rise, with a projected earnings per share (EPS) growth of 12% in 2026, reaching $305, and 10% in 2027, reaching $336 [5][18]. - The report highlights that the largest seven stocks in the S&P 500 (NVIDIA, Apple, Microsoft, Google, Amazon, AVGO, META) will contribute significantly to the index's earnings growth, accounting for 46% of the EPS growth by 2026 [9][11]. - The application of artificial intelligence is anticipated to enhance productivity, contributing an additional 0.4% to EPS growth in 2026 and 1.5% in 2027 [15][24]. Summary by Sections Earnings Growth - The S&P 500 index is expected to see a sales growth of 7% in 2026, with profit margins projected to expand to 12.8% [18]. - The report indicates that the recent decline in net buyback yield will slightly hinder EPS growth relative to earnings growth [7]. Market Dynamics - The report notes that large companies are experiencing above-average sales growth and profit margins, which positively impacts the overall profit margins of the S&P 500 index [13]. - Concerns regarding input costs and pricing dynamics are highlighted, with recent surveys indicating potential downward risks to profit margins [21][23]. Artificial Intelligence Impact - The report emphasizes that the adoption of artificial intelligence is still in its early stages, but large companies are making more progress compared to smaller firms [17]. - The anticipated steady growth in productivity, partly due to AI applications, is expected to support significant improvements in corporate profit margins [24].

Summary of AI Glasses Market and Key Players Industry Overview - The AI glasses market is projected to grow significantly, with shipments expected to reach approximately 112 million units by 2030, reflecting a compound annual growth rate (CAGR) of 105% from 2024 to 2030 [1][2][18] - Market revenues are forecasted to reach US$40 billion by 2030, with a CAGR of 112% during the same period [1][2][18] - The market is characterized by evolving technology and increasing competition among major tech companies [2][50] Key Players and Market Share - **EssilorLuxottica-Meta** is expected to maintain market leadership with a projected share of around 31% by 2030, down from over 90% in 2024 [1][2][18] - **Google** is anticipated to capture approximately 27% of the market share, followed by **Apple** at around 16% [1][2][18] - Other notable players entering the market include **Snap**, **Samsung**, **Tencent**, and **ByteDance**, indicating a trend towards collaboration between tech companies and fashion brands [2][50][61] Technological Insights - Optical components are critical for AI/AR glasses, potentially accounting for 40-70% of the overall bill of materials (BOM) for fully-featured smart glasses [3][28][39] - The complexity of AI capabilities and interaction design will influence hardware development, with a focus on lightweight, power-efficient semiconductor solutions [32][33] - Current dominant players in the semiconductor space include **Qualcomm**, which is expected to remain a key supplier for smart glasses [3][32] Development Challenges - Key challenges in smart glasses development include semiconductor limitations, battery life, design aesthetics, operating systems, display technology, and eyewear distribution channels [32][33][34][36][37] - The need for stylish designs and compatibility with prescription lenses is crucial for mass adoption, as traditional eyewear companies leverage their distribution networks [37][38] Market Catalysts and Risks - Anticipated product launches from major tech companies in 2026 are seen as potential catalysts for market growth, alongside quarterly shipment updates, particularly from Meta [5][50] - Risks include potential oversupply in the supply chain if production increases ahead of demand, which could lead to downward pressure on prices [5] Future Outlook - The AI glasses market is expected to evolve into a mainstream product category by 2026, with significant advancements in features and functionalities [2][50][61] - Companies like **Meta** and **Apple** are focusing on integrating AI capabilities into their products, with Apple reportedly prioritizing AI smart glasses over mixed reality headsets [61][62] - The partnership between **EssilorLuxottica** and **Meta** is highlighted as a strategic advantage, combining fashion expertise with technological innovation [55][56] Conclusion - The AI glasses market is poised for rapid growth, driven by technological advancements and strategic partnerships among key players. The success of these products will depend on overcoming development challenges and effectively addressing consumer needs for design and functionality.

扎克伯格的「元宇宙」执念终于向现实低头，Meta计划削减该部门人力，将资源全面倾斜至销量意外火爆的AI智能眼镜。在Reality Labs四年烧掉700亿美元后，伴 随着竞争对手的退潮，Meta决定不再死磕笨重的VR头显。为了打赢这场新的战役，扎克伯格甚至挖来了前苹果资深设计师，试图让可穿戴设备真正成为时尚单品。 文 ｜ 艾伦 来源｜ 新智元（ID：AI_era） 封面来源 ｜ IC photo 扎克伯格宏大的「元宇宙」愿景，正式宣告大败局。 据三位知情人士透露，Meta正在酝酿对其Reality Labs（现实实验室）旗下的元宇宙相关部门进行裁员。 这把「手术刀」最早可能在下个月落下，预计将波及该部门10%到30%的员工。 该部门主要负责VR头显以及基于VR的社交网络开发。 尽管具体的裁员人数仍在变动中，但这无疑是一个明确的信号。 需要厘清的是，Meta并没有打算彻底放弃建造元宇宙的梦想。 与其说是撤退，不如说是一次战略资源的「乾坤大挪移」：高管们计划将节省下来的资金，从单纯的VR领域，转移到目前势头更猛的AR眼镜和可穿戴设 备上。 从「头号玩家」到「时尚单品」 这一转变并非无迹可寻。 早在2021年，Me ...

Core Viewpoint - Mark Zuckerberg has declared 2023 as the "year of efficiency" for Meta Platforms, following significant workforce reductions and spending cuts [1] Company Summary - Meta Platforms has laid off 21,000 employees as part of its strategy to enhance efficiency [1] - The company is tightening its spending to align with its new focus on operational efficiency [1]