Owning companies that successfully disrupt an industry to create an entirely new category can result in huge gains for investors. This is what Netflix (NASDAQ: NFLX) has achieved. Shares have skyrocketed an unbelievable 2,580% in the past 15 years (as of Jan. 30). For a business whose primary purpose is to win attention, engagement is a crucial data point for investors and the leadership team to track closely. However, Netflix has some work to do here. Where to invest $1,000 right now? Our analyst team jus ...

（来源：OneSight） 2026年初，最新显示：Meta 旗下 Threads 日活用户已连续数月超过 X（原 Twitter）。截至 1 月 7 日，Threads 的 iOS 与 Android 移动日活达到约 1.415 亿，而 X 的同类数据约为 1.25 亿。这一趋势并非短期波动，而是 Threads 在过去一年多时间里稳步增长、X 移动端趋缓的结果。 关于 Threads 和 X 之争，随着时间的推移已经成为品牌要重点考量的社交媒体营销问题之一——品牌是否需要重新评估对这两个平台的投入？ 而在判断哪个平台更具优势之前，不如回到更根本的问题：不同平台正在塑造怎样的用户行为，又如何改变品牌被看见、被理解和被回应的方式。在不 断变化的社交语境里，出海品牌应如何重新定位自己的发声位置。 0 1 X vs Threads 的品牌价值 尽管X数据并不乐观，但日活数据本身并不足以定义平台的真实走向。真正影响品牌决策的，是不同平台正在形成的内容语境与互动逻辑，以及它们如何 改变品牌被理解、被回应乃至被记住的方式。正是在这样的差异中，X 与 Threads 开始承担起不同的品牌价值。 1.不同的平台，承载不同的 ...

Two years after Meta announced it was shuttering its Workplace enterprise business, a band of former engineers at the social media company is launching a new corporate communication platform.Slashwork, as the startup is called, on Wednesday announced that it has raised $3.5 million in funding from a variety of investors including Slack co-founder Cal Henderson and Sandberg Bernthal Venture Partners, the venture capital firm of former Meta COO Sheryl Sandberg.The London startup was co-founded by Jackson Gabb ...

European countries are taking their broadest swipe yet at social media, with a growing number weighing bans of the services for minors and setting the stage for a new showdown with some of the biggest US companies.The policy was first implemented in Australia, encompassing Meta Platforms Inc.’s Instagram and Facebook, Snap Inc., Elon Musk’s X, TikTok and Google’s YouTube. Now it’s catching on in Europe, threatening to cut off access to millions of young users from services regulators call harmful and addict ...

European countries are taking their broadest swipe yet at social media, with a growing number weighing bans of the services for minors and setting the stage for a new showdown with some of the biggest US companies.The policy was first implemented in Australia, encompassing Meta Platforms Inc.’s Instagram and Facebook, Snap Inc., Elon Musk’s X, TikTok and Google’s YouTube. Now it’s catching on in Europe, threatening to cut off access to millions of young users from services regulators call harmful and addict ...

报告显示，摩根士丹利采用修正后的折旧模型，针对在建工程余额上升带来的偏差进行调整，估算微 软、甲骨文、Meta以及Alphabet四家公司未来四年累计折旧费用或将超过6800亿美元。该行同时指出， 传统预测方法因未充分考虑资本支出与资产投用之间的时滞，可能低估未来资产折旧幅度。 曾成功预测2008年金融危机的伯里，在去年年末也发出类似警告。他指出，科技巨头通过延长资产有效 使用寿命压低折旧费用，人为抬高收益水平，预计2026年至2028年期间，大型科技公司将因此虚增1760 亿美元利润。他特别提及，到2028年甲骨文利润或被夸大26.9%，Meta利润或被夸大20.8%。伯里称科 技巨头在会计处理上使用"把戏"，将原本仅2至3年产品周期的英伟达芯片和服务器等计算设备的折旧周 期延长至6年。 大型科技公司的资本支出持续走高，或将推动未来数年折旧费用大幅攀升。摩根士丹利表示，这一趋势 尚未完全体现在市场普遍预期中，同时也引发知名做空投资人迈克尔·伯里的关注。 美银分析师Justin Post此前发布报告提到，华尔街对折旧费用增长速度反应较为迟钝。随着谷歌、Meta 和亚马逊2024年至2025年资本支出大幅增长， ...

截至2026年2月3日，天弘中证全指通信设备指数发起A(020899)自成立以来，最长连涨月数为6个月，最长连涨涨幅123.90%，涨跌月数比为12/9，成立至今 历史年度均跑赢基准收益。 截至2026年2月3日，天弘中证全指通信设备指数发起C(020900)自成立以来，最长连涨月数为6个月，最长连涨涨幅123.67%，涨跌月数比为12/9，成立至今 历史年度均跑赢基准收益。 消息面上，海外云厂商资本开支持续高增，Meta宣布2026年资本开支将提升至1150亿~1350亿美元，同比增长59%~87%，显著超出市场预期；微软Azure及 其他云服务收入同比增长约39%，云业务积压合同订单同比翻倍，谷歌、亚马逊亦同步加大AI基础设施投入，四大云厂商2025年三季度资本支出合计达954 亿美元，同比大幅增长53%–133%。 兴业证券指出，Meta、微软资本开支延续高增态势，AI商业闭环落地节奏加快。微软Azure及其他云服务收入同比增长约39%，云业务积压合同订单同比翻 倍；Meta宣布2026年资本开支将大幅提升至约1150亿~1350亿美元，同比增长59%~87%，显著高于此前预期。光模块龙头业绩如期兑现， ...

Core Viewpoint - Meta Platforms is currently viewed as a significant investment opportunity due to its low valuation and potential for revenue growth driven by advancements in artificial intelligence [2][9][10]. Company Overview - Meta Platforms, known for its social media dominance with platforms like Facebook and Instagram, has approximately 3.5 billion daily users across its apps [4][5]. - The company has a market capitalization of $1.8 trillion and is trading at a forward earnings multiple of 23x, which is considered very reasonable [8][9]. Revenue Growth Potential - Meta is heavily investing in AI, developing its own large language model to enhance its social media applications and improve advertising experiences [6]. - The CEO, Mark Zuckerberg, indicated that 2026 could be pivotal for Meta as new AI models and products are expected to be launched, potentially leading to significant revenue opportunities [9]. Market Position - The stock is currently trading at $691.70, with a day's range of $686.41 to $717.00, and a 52-week range of $479.80 to $796.25 [7][8]. - The company has a gross margin of 82% and a dividend yield of 0.30%, indicating strong profitability [8].

责任编辑：山上 摩根士丹利在最新报告中表示，超大型企业正从相对轻资产的商业模式向依赖基础设施的运营模式转 变，因为它们正在扩大数据中心容量，以满足不断增长的AI需求。该行全球研究部主管Katy Huberty表 示，这一转变具有重要的会计方面的影响。报告称，大摩采用了一种修正后的折旧模型，该模型能够对 因在建工程余额上升而产生的偏差进行调整。据此估算，微软、甲骨文、Meta以及谷歌这四家公司在 未来四年内可能总共需要支付超过6800亿美元的折旧费用。大摩表示，传统的预测方法可能会低估未来 的资产贬值幅度，因为这些方法未能充分考虑到资本支出与资产投入使用之间的时滞因素。 美股频道更多独家策划、专家专栏，免费查阅>> ...

Investment Rating - The investment rating for the AI computing industry is maintained as "Buy" for specific companies such as沃尔核材, 天孚通信, and 长飞光纤, while 立讯精密 is rated as "Add" [7]. Core Insights - Meta has signed a long-term supply agreement with Corning for fiber optic cables worth up to $6 billion to accelerate AI data center construction, highlighting the strong demand for fiber optics in computing infrastructure [3]. - Nvidia is hosting a webinar focused on co-packaged silicon photonics (CPO) switches, emphasizing their strategic value in scaling AI computing capabilities [4]. - The report suggests focusing on companies like 天孚通信, 立讯精密, 长飞光纤, and 沃尔核材 for potential investment opportunities [5]. Weekly Market Analysis - From January 26 to January 30, the communication industry saw a significant increase of 5.83%, ranking second among all sectors, while the electronics sector experienced a decline of 2.51% [12][19]. - The AI computing-related sub-sectors mostly showed an upward trend, with the communication network equipment and devices sector leading with an increase of 8.56% [19]. Company Announcements - Lotus Holdings announced progress in its transition to computing power business, including various contracts for GPU servers and cloud services [49]. - Tongfu Microelectronics reported a reduction in shareholding by its major shareholder, which will not affect the company's governance or operations [51]. - Tianfu Communication completed a share reduction plan by a board member, which was executed in accordance with regulations and did not impact company control [52].