Market Overview - U.S. stock futures rose on Wednesday following a mixed close on Tuesday, with major benchmark indices showing higher futures [1] - The CME Group's FedWatch tool indicates a 97.2% likelihood of the Federal Reserve keeping interest rates unchanged in January [2] - The 10-year Treasury bond yielded 4.24%, while the two-year bond was at 3.57% [2] Index Performance - Dow Jones increased by 0.04%, S&P 500 by 0.30%, Nasdaq 100 by 0.74%, and Russell 2000 by 0.40% in premarket trading [2] - The SPDR S&P 500 ETF Trust (NYSE:SPY) was up 0.33% at $697.77, and Invesco QQQ Trust ETF (NASDAQ:QQQ) advanced 0.77% to $635.96 [2] Stocks in Focus - Starbucks Corp. (NASDAQ:SBUX) was down 0.76% in premarket, projected to post quarterly earnings of $0.59 per share on revenue of $9.73 billion [4] - Microsoft Corp. (NASDAQ:MSFT) rose 0.087% ahead of earnings expected to be $3.97 per share on revenue of $80.27 billion [4] - Tesla Inc. (NASDAQ:TSLA) advanced 0.23%, projected to post quarterly earnings of $0.45 per share on revenue of $24.78 billion [4] - Seagate Technology Holdings PLC (NASDAQ:STX) jumped 10.02% after reporting better-than-expected revenue and earnings, along with strong guidance [4] Economic Insights - Jeffrey Roach, Chief Economist at LPL Financial, forecasts a resilient U.S. economy in 2026, with real economic growth projected at 2.5% year-over-year and nominal growth surpassing 5% [8] - Roach emphasizes that productivity growth, particularly from early AI adoption, will support economic expansion without reigniting inflation [8] - His team maintains a "tactical neutral stance on equities," favoring large-cap growth stocks and the communication services sector [9] Upcoming Economic Data - The FOMC will announce its interest-rate decision at 2:00 p.m., followed by a press conference from Fed Chair Powell at 2:30 p.m. ET [10] Commodities and Global Markets - Crude oil futures were down 0.22% to around $62.25 per barrel, while Gold Spot rose 1.75% to approximately $5,272.90 per ounce [11] - Bitcoin (CRYPTO: BTC) was trading 1.52% higher at $89,223.76 per coin [13]

Microsoft Corp. (NASDAQ:MSFT) is set to release its second-quarter 2026 earnings on Wednesday, with investors and analysts closely watching cloud growth, AI investments, and capital expenditures amid a six-month stock slump.Analysts Predict Strong Cloud PerformanceFor the second quarter, Wall Street expects Microsoft to report earnings per share of $3.86 and revenue of $80.26 billion, up from $3.23 EPS and $69.63 billion revenue in the same quarter last year, according to Benzinga Pro data.The company has a ...

Investment Rating - The report maintains an "Outperform" investment rating for the communication industry [2][9]. Core Insights - The communication industry index outperformed the Shanghai Composite Index in December 2025, rising by 12.82% compared to +2.06% for the Shanghai Composite Index and +2.28% for the CSI 300 Index [8][14]. - Key material supply for optical modules remains tight, with major players like Longfei and Hengtong winning bids for China Unicom's hollow-core fiber cable procurement [8][9]. - The retail sales of communication equipment in China increased by 20.9% year-on-year in December 2025, driven by the demand for smartphones [8][41]. - The global smartphone shipment is projected to grow by 2% year-on-year in 2025, reaching 1.25 billion units, with AI smartphones expected to penetrate 34% of the market [8][29]. - The export value of optical modules from China decreased by 15.6% year-on-year in 2025, while Thailand's communication equipment exports surged by 152.1% [8][9]. Summary by Sections Market Review - The communication industry index rose by 12.82% in December 2025, outperforming major indices [14]. - Sub-sectors such as cables and network equipment saw significant gains, with increases of 22.05% and 19.44% respectively [15][19]. Industry Tracking - The capital expenditure of major cloud providers in North America reached $112.43 billion in Q3 2025, a 76.9% increase year-on-year [25][28]. - AI applications are driving cloud business growth, with major companies like Amazon, Microsoft, Google, and Meta significantly increasing their capital expenditures [25][29]. - The Chinese ICT market is expected to grow to approximately $889.43 billion by 2029, with a CAGR of 7.0% [39][40]. Domestic Telecom Industry - Telecom business revenue in China reached 1.6096 trillion yuan from January to November 2025, a year-on-year increase of 0.9% [48]. - The number of 5G mobile phone users reached 1.193 billion by November 2025, accounting for 65.3% of total mobile phone users [49]. - The number of fixed broadband users with gigabit access reached 239 million, representing 34.3% of total users [52].

科技巨头"Mag 7"财报季将于周三拉开帷幕，微软、Meta和特斯拉将在盘后公布业绩，苹果紧随其后于周四发布，四家公司总市 值达10.5万亿美元。高盛Delta One部门负责人Rich Prvorotsky最新表示，这一轮财报季归根结底将围绕一个核心问题："谁在减少 支出，谁在增加支出。" 市场预期"Mag 7"第四季度利润增长20%，这将是2023年初以来最慢的增速。在此背景下，这些公司面临压力，需要证明其承诺 的巨额资本开支正在以更显著的方式产生回报。投资者对资本开支指引的关注度空前高涨，这一数据将直接影响市场对AI投资回 报周期的判断。 本周将有三分之一的标普500成分股（按市值计算）公布业绩。据彭博汇编数据，迄今已有近80%的标普500公司业绩超出分析师 预期。瑞银全球财富管理的Ulrike Hoffmann-Burchardi表示："我们预计科技股业绩将表现强劲，但也预期盈利增长将扩展至各个 板块。" 尽管业绩稳健，但Wolfe Research的Chris Senyek指出，营收和利润双双超预期的公司股价在财报后反而出现负面表现。"换句话 说，双重超预期正因稳健业绩而受到惩罚，"他表示，"我们认 ...

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the “Greed” zone on Tuesday.U.S. stocks settled mixed on Friday, with the Dow Jones index falling more than 400 points and the Nasdaq Composite gaining over 200 points during the session ahead of a big week of major earnings reports and an interest rate decision from the Federal Reserve. The S&P 500 climbed to a fresh all-time intraday high.General Motors Co. (NYSE:GM) surged more than ...

Core Viewpoint - Investors have recently shifted focus to niche stocks as skepticism grows regarding the returns on investments made by the Magnificent Seven tech giants in artificial intelligence development [1][12]. Group 1: Performance of the Magnificent Seven - The Magnificent Seven tech giants, including Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, have led the stock market for the past three years, but their performance has declined since the end of 2025 [1][12]. - Alphabet and Amazon are the only stocks among the Magnificent Seven that have seen gains, with Alphabet rising nearly 20% during the recent downturn [2][12]. - The Magnificent Seven index is currently trading at 28 times profits expected over the next 12 months, which is below previous peaks and in line with the average over the past decade [10][13]. Group 2: Investment Shifts and Market Reactions - Traders have increasingly invested in companies benefiting from Big Tech's spending, such as Sandisk, which is up over 130%, Micron Technology, which has risen 76%, and Western Digital, which has gained 67% since the Magnificent Seven index peaked [3][12]. - The upcoming earnings reports from Microsoft, Meta, Tesla, Apple, Alphabet, and Nvidia are expected to provide insights into the health of various tech sectors, with a projected profit growth of 20% for the fourth quarter, the slowest since early 2023 [4][6][12]. Group 3: Capital Expenditures and Growth Expectations - Major tech companies are expected to spend approximately USD 475 billion on capital expenditures in 2026, significantly up from USD 230 billion in 2024, raising investor expectations for returns on these investments [7][12]. - Microsoft’s Azure revenue rose 39% in its fiscal first quarter, with expectations of 36% growth in the second quarter, highlighting the demand for cloud services driven by AI [7][12]. - Companies that fail to meet growth targets may face significant market penalties, as seen with Meta Platforms, which experienced an 11% drop in stock price following a projection of increased capital expenditures without clear profit pathways [8][12]. Group 4: Comparative Earnings Growth - The 493 companies in the S&P 500 not included in the Magnificent Seven are projected to deliver only 8% earnings growth in the fourth quarter, significantly slower than the expected growth from the tech giants [9][12]. - Nvidia shares have increased by 1,184% since the end of 2022, yet are priced at 24 times anticipated profits, slightly above the S&P 500's multiple of 22, indicating that the stocks are not historically expensive [10][13]. Group 5: Market Sentiment and Future Outlook - Investors are awaiting signs of growth from the Magnificent Seven, with the current earnings season viewed as a critical milestone for assessing progress [11][13]. - The sentiment in the market has shifted to a "show-me story," where investors demand tangible results from Big Tech's investments in AI and other technologies [4][12].

智通财经APP获悉，欧洲金融巨头法国巴黎银行(BNP Paribas)周二发布研报称，随着微软(MSFT.US)升 级换代后的第二代自研人工智能芯片(AI芯片)"Maia 200"横空出世，且这款自研AI芯片引爆新一轮AI算 力产业链投资狂潮，聚焦于大型AI数据中心定制化AI芯片(即 AI ASIC芯片)的ASIC领军者们——例如美 国芯片设计巨头迈威尔(MRVL.US)及其最大竞争对手博通公司(AVGO.US)有望最大程度受益这股投资狂 潮的算力领军者。 法巴银行的分析师们在研报中强调微软引领的云计算巨头们自研AI芯片趋势可谓大势所驱，未来ASIC 与英伟达AI GPU算力集群之间的AI算力基础设施市场份额有可能从当前的1:9/2:8大幅抬升至接近对 等。 资深分析师卡尔·阿克曼(Karl Ackerman)领导的法巴银行分析师团队表示，在自研AI芯片趋势触发的新 一轮A算力投资狂潮中，除了上述两大AI ASIC领军者们，其次则是数据中心高速互连(DCI)、高速铜缆 以及数据中心光互连领军者们也有望大幅受益于新一轮AI算力投资狂潮。 从更深层次的角度洞察整个AI算力产业链体系，不难发现AI ASIC、DCI ...

Microsoft released its in-house chip that will directly compete with Nvidia.Here's an AI stock that'll crush the market in 2026, and no, it's not Nvidia (NVDA +1.15%). Microsoft (MSFT +2.23%) is going to have the best year among the AI leaders. Why is that? Because on Jan. 26, the software company revealed its long-awaited Maia 200 chip.NASDAQ : MSFTMicrosoftToday's Change( 2.23 %) $ 10.51Current Price$ 480.79Key Data PointsMarket Cap$3.6TDay's Range$ 473.13 - $ 482.8552wk Range$ 344.79 - $ 555.45Volume1.3M ...

With U.S. stock futures trading higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:Wall Street expects Microsoft Corp. (NASDAQ:MSFT) to report quarterly earnings at $3.97 per share on revenue of $80.27 billion after the closing bell, according to data from Benzinga Pro. Microsoft shares rose 0.4% to $482.50 in after-hours trading.Packaging Corp Of America (NYSE:PKG) posted weaker-than-expected results for the fourth quarter, after the closing bell on Tuesd ...

截至2026年1月28日 13:01，中证人工智能主题指数(930713)上涨0.25%，成分股北京君正上涨7.93%，光 环新网上涨4.95%，同方股份上涨4.40%，神州泰岳上涨4.37%，晶晨股份上涨3.95%。AI人工智能 ETF(512930)上涨0.38%，最新价报2.4元。 AI人工智能ETF紧密跟踪中证人工智能主题指数，中证人工智能主题指数选取50只业务涉及为人工智能 提供基础资源、技术以及应用支持的上市公司证券作为指数样本，以反映人工智能主题上市公司证券的 整体表现。 数据显示，截至2025年12月31日，中证人工智能主题指数(930713)前十大权重股分别为中际旭创、新易 盛、寒武纪、澜起科技、中科曙光、科大讯飞、海康威视、豪威集团、金山办公、浪潮信息，前十大权 重股合计占比58.08%。 AI人工智能ETF(512930)，场外联接(平安中证人工智能主题ETF发起式联接A：023384；平安中证人工 智能主题ETF发起式联接C：023385；平安中证人工智能主题ETF发起式联接E：024610)。 风险提示：基金有风险，投资需谨慎。基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资 ...