格隆汇1月30日丨Saxo Markets英国投资策略师尼尔·威尔逊表示："黄金和白银的价格似乎因自身过度膨 胀而达到的创纪录高位而遭受重创。铜价也大幅下跌。金属和外汇市场出现了极度的波动，这导致了严 重的混乱局面，并可能对股市情绪造成严重冲击。标普500指数一度跌破6900点，微软股价暴跌11%。 就金属市场而言，目前的情况看起来相当混乱。" MACD金叉信号形成，这些股涨势不错！ ...

Group 1: Market Overview - The US trading day shows a divergence in major averages, with the Dow down about 104 points (0.25%), the S&P 500 down 0.7%, and the Nasdaq down 1.5% [2][3] - Microsoft is a significant contributor to the Nasdaq's decline, with its shares falling over 11% due to concerns over its capital expenditure plans despite beating second-quarter earnings estimates [8][10] - Meta, in contrast, is up 8.5%, indicating a mixed performance among tech stocks [4][5] Group 2: Microsoft Earnings and Capex - Microsoft reported strong Azure growth, adding approximately $9 billion in annual recurring revenue (ARR) sequentially, but its capex spending plans have raised investor concerns [14][15] - The Azure growth rate was 38% in constant currency, slightly below expectations, contributing to the stock's decline [14][15] - Analysts note that Microsoft's capex is necessary to address capacity constraints and build out data centers, which will take time to translate into revenue [12][16] Group 3: AI and Software Industry Insights - The software industry is experiencing a shift towards AI, with companies like Microsoft and Meta investing heavily in AI capabilities [10][31] - Microsoft Fabric reached $2 billion in ARR, up 60%, indicating strong demand for its AI-driven products [19] - Concerns exist about the sustainability of software companies in the face of AI advancements, but there is potential for significant growth through innovation and customer engagement [30][35] Group 4: Commodities and Economic Indicators - Oil prices have risen over 4%, with WTI at $66 per barrel, while gold and silver prices are also increasing, indicating a commodity super cycle [6][7][68] - Central banks have been significant buyers of gold, purchasing approximately 863 tons recently, contributing to rising gold prices [63] - The US dollar continues to decline, impacting the broader market and commodity prices [6][52] Group 5: Tesla's Strategic Shift - Tesla plans to shift focus from electric vehicles to robotics and autonomous vehicles, with a projected $20 billion in capital expenditures for production improvements [102][103] - The company will wind down production of its Model S and Model X, marking a significant strategic pivot [99][101] - This shift may lead to negative free cash flow in the short term but aims to position Tesla for long-term growth in autonomous technology [102][103]

Core Viewpoint - Microsoft shares experienced a significant decline of up to 12.6% following its quarterly earnings report, despite delivering solid financial results that exceeded analyst expectations [1][3]. Financial Performance - For fiscal Q2 2026, Microsoft reported revenue of $81.3 billion, marking a 17% year-over-year increase and a 15% increase in constant currency [2]. - Adjusted earnings per share (EPS) reached $4.14, reflecting a 24% increase or 21% in constant currency [2]. - Analysts had projected revenue of $80.3 billion and EPS of $3.92, indicating that Microsoft surpassed these expectations [3]. Business Segment Performance - The productivity and business processes segment generated $34.1 billion in revenue, growing by 16% [4]. - The personal computing segment reported revenue of $14.3 billion, which was a decline of 3% [4]. - Intelligent cloud revenue increased by 29% to $51.5 billion, with Azure Cloud growing by 39% [4]. Capital Expenditures and Future Outlook - Microsoft’s capital expenditures (capex) rose to $37.5 billion in Q2, up from $26.6 billion in the same quarter last year, as the company works to meet AI demand [5]. - Management is balancing capex spending against AI demand while expanding data center infrastructure [5]. - The trailing 12-month price-to-earnings (P/E) ratio for Microsoft has decreased to 30, aligning it with other tech giants [6]. - Management indicated that cloud and AI growth will fluctuate quarterly as additional capacity becomes available, emphasizing a long-term growth strategy [6].

-- Why Microsoft's Stock Is Tumbling Thursday [Stocks Little Changed After Fed Decision][Fed Holds Key Rate Steady][Meta and Tesla Shares Surge, Microsoft Slides After Earnings][Nvidia's Plans to Sell More Chips in China Clear Major Hurdle]- Top StoriesMicrosoft revealed that nearly half of its backlog was attributable to OpenAI.David Paul Morris / Bloomberg / Getty ImagesClose### Key Takeaways- Analysts said the tech giant's growing AI spending, weaker-than-expected cloud growth, and reliance on a few larg ...

Core Insights - Microsoft reported second-quarter fiscal 2026 earnings of $4.14 per share, exceeding estimates by 6.7% and showing a 24% year-over-year increase [1] - Revenues reached $81.3 billion, a 17% year-over-year growth, surpassing estimates by 1.3% [1] - Commercial bookings surged 230%, driven by significant Azure commitments and large contracts [2] Financial Performance - Microsoft Cloud revenues totaled $51.5 billion, growing 26% year over year, with a gross margin percentage of 67% [3] - Operating income reached $20.6 billion, with an operating margin of 60.4% [9] - Gross profit was $55.3 billion, up 15.6% year over year, with a gross margin of 68% [20] Segment Performance - The Productivity & Business Processes segment generated $34.1 billion in revenues, growing 16% year over year [5] - Intelligent Cloud segment revenues were $32.9 billion, reflecting a 29% year-over-year growth [9] - More Personal Computing segment revenues decreased 3% year over year to $14.3 billion [13] AI and Technology Advancements - Microsoft expanded its AI infrastructure, serving over 80,000 organizations, including 80% of Fortune 500 companies [16] - The company reported 900 million monthly active users of AI features, with over 150 million using first-party Copilots [17] - Microsoft Fabric revenues grew 60%, with SQL Database hyperscale revenues increasing nearly 75% [18] Capital Expenditure and Guidance - Capital expenditures totaled $29.9 billion, with expectations for a decrease in the next quarter [23] - For Q3 FY26, total revenues are projected between $80.65 billion and $81.75 billion, indicating growth of approximately 15% to 17% [27] - The company anticipates remaining capacity-constrained through at least fiscal year-end, impacting revenue opportunities for Azure [29][30]

Welcome back to Morning Trade Live. It's time now for the big picture. So, let's welcome in Lisanne Saunders, chief investment strategist, Sharp Center for Financial Research.Always lovely to see you, Lisanne. >> You too, sir. >> So, we cleared some hurdles yesterday.We got through the Fed, which as you describe is a bit of a snore um because obviously we did see the S&P 500 just teetering around the flatline. It didn't budge much from that. We got through three of the MAG 7.Very different reactions in the ...

Gold (GC=F) fell below $5,300 after briefly topping $5,600 per ounce on Thursday while silver also slid as a blistering rally in precious metals appeared to come to a halt. The declines came alongside a selloff in the stock market, with the Nasdaq Composite (^IXIC) dropping more than 2% amid a plunge in Microsoft shares (MSFT). The tech giant's quarterly earnings report spooked investors given higher-than-anticipated capital spending and a slowdown in quarterly cloud sales growth. A rapid rally in prec ...

Key Takeaways Microsoft shares slumped Thursday, despite quarterly revenue and earnings that topped estimates. Analysts said the tech giant's growing AI spending, weaker-than-expected cloud growth, and reliance on a few large customers raised concerns. Microsoft (MSFT) shares took a big hit after the company reported earnings yesterday. The shares dropped 10% Thursday to close at $433.50, leading losses on the Dow Jones Industrial Average and the Nasdaq. Thursday's rout wiped nearly $360 billion of ...

每经编辑｜段炼 当地时间1月29日，美股开盘后大跳水！ 截至发稿，纳指跌超2.5%，标普500跌近1.5%，道指跌超0.67%。 | 今井 | 191.310 | | 最高 | 193.480 | | 成交量 | 6374万股 | | --- | --- | --- | --- | --- | --- | --- | --- | | 昨收 | 191.520 | | 最低 | 186.060 | | 成交额 | 120.77亿 | | 换手率 | 0.26% | | 市盈(TTM) | 45.60 | | 总市值 | 4.52万亿 | | 制 | 日 | 日K | 園K | 月K | 家 | モK | 更多v | 微软更是暴跌逾12%，创2020年以来最大盘中跌幅，市值蒸发约4400亿美元（约合人民币3.06万亿元）。财报显示其资本支出创历史新高引发市场担忧。 美股科技巨头普遍跳水 微软暴跌12% 科技七姊妹普跌，仅Meta大涨7%。英伟达、特斯拉跌近3%，亚马逊、谷歌也跌超2%，苹果跌0.4%。 费城半导体指数盘中也下挫超过3%，随后有所反弹，截至发稿，跌幅收窄至2%左右。费城半导体指数由费城交易所创立于1 ...

Threats to stocks and the dollar remain. President Trump has threatened new 100% tariffs on US imports from Canada, the possibility of a US government shutdown over ICE funding, and lingering concerns about Greenland. In addition, there is the risk of another partial government shutdown. Senate Democrats threatened to block a government funding deal over Department of Homeland Security/ICE funding after the ICE shooting of an ICU nurse in Minnesota on Saturday. There could be a partial government shutdown w ...