Core Viewpoint - The "Magnificent Seven" stocks, including Nvidia, Alphabet, Apple, Microsoft, Amazon, Meta Platforms, and Tesla, are approaching attractive valuations compared to their historical prices, with some stocks potentially being undervalued [1][2]. Valuation Analysis - All stocks in the "Magnificent Seven" trade at a premium to the market, but using forward earnings for valuation is more appropriate due to the rapid growth driven by the AI boom [4]. - The valuations of these stocks have converged to a typical range, with Tesla excluded due to its high forward earnings multiple of nearly 200 times [5]. - The focus is on stocks trading between 22 to 24 times forward earnings, specifically Nvidia, Microsoft, and Meta Platforms, which are considered good bargains [7]. Market Comparison - The S&P 500 trades at approximately 21.8 times forward earnings, indicating that the "Magnificent Seven" stocks are valued similarly to the market average despite their superior growth potential [8]. Individual Stock Insights - **Nvidia**: Currently trading at a low price, with a projected revenue growth of 52% for FY 2027, making it a strong buy opportunity [9]. - **Microsoft**: Experienced a decline post-earnings announcement, despite strong performance and 39% year-over-year growth in its Azure cloud platform, presenting a buying opportunity [11]. - **Meta Platforms**: Trading at 22.2 times forward earnings, it is the cheapest among the group, with expected revenue growth of 25% this year, indicating it is undervalued compared to its growth rate [13].

AI投入失控、债务上行、投资回报周期不明，四大云厂商绩后市值蒸发万亿，市场焦点转向"财力撑不撑得住"。高盛预测超大规模 云厂商未来三年资本开支将逼近1.4万亿美元，现金流告急引发债务激增，导致CDS交易升温。目前Alphabet的CDS合约规模约有 8.95亿美元，Meta约有6.87亿美元。 最新一轮财报披露后，美国四大超大规模云厂商合计市值回吐逾1万亿美元 ，投资者对AI基础设施投入失控、现金流承压与债务上 行的担忧，正在同时压低股价并推高信用对冲需求。 据彭博报道，围绕Meta和Alphabet等发行人的单名CDS在过去一年明显活跃， 目前Alphabet的CDS合约规模约有8.95亿美元， Meta约有6.87亿美元。 在资本开支指引持续抬升的背景下，高盛预计超大规模云厂商 2025年至2027年的资本开支合计接近1.4万亿美元。 摩根士丹利则预计超大规模云厂商今年 借款规模将达到4000亿美元，高于2025年的1650亿美元。 股权端的"万亿美元回撤"与信用 端的"对冲热"，正在共同重估"大厂风险"的定价。 投资者加速撤离科技股 微软股价较近期高点下跌 27%，亚马逊下跌 21%，Meta下跌 16 ...

根据美国证券交易委员会(SEC)披露，摩根士丹利递交了截止至2025年12月31日的第四季度持仓报告(13F)。整体来看，大摩Q4持仓变化呈现出"维持 核心科技主线、降低指数化敞口、强化主动精选能力"的特征。 据统计，大摩第四季度持仓总市值为1.67万亿美元，上一季度总市值为1.65万亿美元，环比上升1.2%。该基金在第四季度的投资组合中新增了 454只个股，增持了4007只个股，减持了3028只个股，清仓了415只个股。其中前十大持仓标的占总市值的22.15%。 在 其 他 科 技 股 中 ， Meta(META.US) 获 得 了 约 82 万 股 增 持 ， 特 斯 拉 (TSLA.US) 被 减 持 了 36 万 股 ， AMD(AMD.US) 被 减 持 了 502 万 股 ， Palantir(PLTR.US)被减持了103万股，博通(AVGO.US)被减持了近4.4万股。 整体来看，大摩并未显著降低对科技板块的配置权重，而是通过内部调仓进行再平衡，更偏向于盈利确定性与现金流稳定性较强的龙头公司。 减持方面，大摩还减持了医疗股如强生(JNJ.US)、艾伯维(ABBV.US)、赛默飞世尔(TMO.U ...

Core Viewpoint - The Trusted Tech Alliance (TTA) has been launched by 15 leading global technology companies from 10 countries to promote a reliable technology ecosystem based on shared principles of transparency, security, and data protection, addressing the growing skepticism towards digital technologies and their societal impacts [1][2]. Group 1: Alliance Formation - The TTA was announced at the Munich Security Conference, with members including Anthropic, AWS, Google Cloud, Microsoft, and others, aiming to collaborate across borders [1]. - The alliance is formed in response to unprecedented technological changes and increasing demands for reliability and resilience in technology services [1]. Group 2: Principles of the Alliance - The TTA members have agreed on five specific principles: 1. Respect for the rule of law and data protection 2. Open, cooperative, inclusive, and resilient digital ecosystem 3. Strong supply chain and security oversight 4. Operational transparency, secure development, and independent assessment 5. Transparent corporate governance and ethical conduct [1][2]. - These principles emphasize the need for robust corporate governance and ethical behavior, ensuring technology is developed and managed responsibly throughout its lifecycle [1]. Group 3: Commitment to Collaboration - The alliance aims to work with governments and clients to enhance public trust in emerging technologies, thereby fostering job creation and economic growth [1]. - Members are committed to adhering to strict global security standards and supporting an open and cooperative digital environment that encourages innovation [1][2]. Group 4: Industry Perspectives - Leaders from various member companies expressed their commitment to the alliance, highlighting the importance of collaboration in building a secure and reliable digital infrastructure [2]. - Statements from executives emphasize that no single company or country can build a secure digital infrastructure alone, and that trust and security must be achieved collectively [2].

Core Viewpoint - The establishment of the Trusted Tech Alliance (TTA) aims to enhance global cooperation among technology providers to address customer needs and build trust in technology through shared principles of transparency, security, and data protection [1][2]. Group 1: Formation and Purpose of TTA - The Trusted Tech Alliance was announced at the Munich Security Conference, comprising 15 leading companies from Africa, Asia, Europe, and North America [1]. - The alliance focuses on creating a trusted technology framework that includes connectivity, cloud infrastructure, semiconductors, software, and AI [1]. - TTA aims to ensure that member companies adhere to common commitments regarding transparency, security, and data protection, fostering trust and delivering technological benefits globally [1]. Group 2: Principles and Commitments - TTA members have agreed on five specific principles defining what it means to develop, deploy, operate, and collaborate as a trusted global technology provider: 1. Respect for the rule of law and data protection 2. An open, cooperative, inclusive, and resilient digital ecosystem 3. Robust supply chain and security agreements 4. Operational transparency, secure development, and independent assessment 5. Transparent governance and ethical corporate behavior [1][2]. - These commitments require strong governance, ethical behavior, and adherence to strict global security standards from member companies [1]. Group 3: Industry Reactions and Statements - Leaders from various companies, including Amazon, Google Cloud, and Microsoft, expressed their commitment to the alliance, emphasizing the importance of trust in technology for economic growth and security [2]. - The alliance is seen as essential for addressing the challenges posed by rapid technological advancements and ensuring that technology benefits society while maintaining security and trust [2]. - Companies like Ericsson, Nokia, and SAP highlighted the need for collaboration to build a secure and trustworthy digital infrastructure, which is crucial for fostering innovation and economic resilience [2].

anunciaron el lanzamiento de Trusted Tech Alliance (TTA),...]### GLOBÃLNI TECHNOLOGICKÃ TRUSTED TECH ALLIANCE [Accessibility Statement] Skip Navigation , , 15 10 , 15 2026 . /PRNewswire/ -- 15 , , Trusted Tech Alliance (TTA) — , , , . , , , . , . . , , , . , , TTA , , , . , , , , , , . Trusted Tech Alliance : Anthropic, AWS, Cassava Technologies, Cohere, Ericsson, Google Cloud, Hanwha, Jio Platforms, Microsoft, Nokia, Nscale, NTT, Rapidus, Saab SAP.- , , , :1. .2. , , .3. .4. , .5. . , , . , . TTA , , , , . ...

最新一轮财报披露后，美国四大超大规模云厂商合计市值回吐逾1万亿美元，投资者对AI基础设施投入失控、现金流承压与债务上行的担忧，正在同时压低 股价并推高信用对冲需求。 微软股价较近期高点下跌27%，亚马逊下跌21%，Meta下跌16%，Alphabet下跌11%。市场的核心疑问从"AI值不值"转向"资本开支撑不撑得住"，担心投入过 快导致产能过剩和回报周期拉长。 这股情绪也外溢至债市。债务投资者担忧科技巨头为争夺更强AI能力而持续加杠杆，债券信用利差扩大，同时带动单一公司信用违约互换（CDS）交易升 温。 据彭博报道，围绕Meta和Alphabet等发行人的单名CDS在过去一年明显活跃，目前Alphabet的CDS合约规模约有8.95亿美元，Meta约有6.87亿美元。 在资本开支指引持续抬升的背景下，高盛预计超大规模云厂商2025年至2027年的资本开支合计接近1.4万亿美元。 摩根士丹利则预计超大规模云厂商今年借款规模将达到4000亿美元，高于2025年的1650亿美元。股权端的"万亿美元回撤"与信用端的"对冲热"，正在共同重 估"大厂风险"的定价。 投资者加速撤离科技股 其中，微软的资本支出预计将从202 ...

Technologies."Kein einzelnes Unternehmen oder ein Land kann allein einen sicheren und vertrauenswürdigen digitalen Stack aufbauen. Vielmehr können Vertrauen und Sicherheit nur gemeinsam erreicht werden. Deshalb haben wir gemeinsam mit gleichgesinnten Branchenkollegen die Trusted Tech Alliance ins Leben gerufen – eine Initiative, die sich für überprüfbare Vertrauenspraktiken im gesamten digitalen Bereich einsetzt", sagte Börje Ekholm, Präsident und Geschäftsführer von Ericsson."Google Cloud verpflichtet sich ...

Core Points - The Trusted Tech Alliance (TTA) has been launched by 15 leading global technology companies from 10 countries to promote a trustworthy technology stack and enhance collaboration across borders [1][2] - The alliance aims to address concerns regarding digital technologies and their potential negative impacts by establishing common principles for transparency, security, and data protection [1][2] - Members of the TTA include major companies such as Amazon, Google Cloud, Microsoft, and Ericsson, which have committed to five specific principles that define responsible technology development and deployment [1][2] Group 1: Alliance Objectives - The TTA seeks to foster trust in technology by ensuring that all member companies adhere to shared commitments regarding data protection and operational transparency [1][2] - The alliance emphasizes the importance of collaboration among technology providers to enhance reliability and resilience in the face of rapid technological evolution [1][2] - By defining attributes of trustworthy technology, the TTA aims to support job creation and economic growth while addressing public concerns about emerging technologies [1][2] Group 2: Member Commitments - The five principles agreed upon by TTA members include respect for the rule of law, an open and cooperative digital ecosystem, robust supply chain security, operational transparency, and ethical governance [1][2] - Companies are required to implement strong corporate governance and ethical behavior, ensuring that technologies are developed and managed responsibly throughout their lifecycle [1][2] - The alliance will continue to expand its community of global suppliers dedicated to promoting a reliable, interoperable, and open technology stack [1][2]

0:00 据报道，当地时间2月13日，全球最大对冲基金桥水披露了截至2025年末的美股持仓报告（13F）。 2025年第四季度，桥水增持美光科技、甲骨文、英伟达、亚马逊等科技股，还增持了纽曼矿业等黄金 股；同时减持谷歌、微软等股票。 ...