杰富瑞发表报告指，微软股价自第一财季以来下跌18%，尽管披露OpenAI的2500亿美元及Anthropic的 300亿美元投资承诺，其估值倍数仍压缩23%，因投资者持续转向半导体股。但微软凭借庞大存量订单 的执行力，今年将大幅扩增产能，具备上行潜力。该行又指，微软的2027财年每股盈利23倍估值具吸引 力，低于超大规模云服务企业亚马逊与谷歌的24及25倍，而且微软在营运能见度、剩余履约义务(RPO) 价值及AI变现路径对比后两者更为明确。该行予微软"买入"评级，目标价为675美元。 ...

Group 1 - Mizuho Securities has lowered the target prices for several technology companies, including Atlassian, Cloudflare, and Microsoft [1] - The target price for Atlassian has been reduced from $245 to $225, for Cloudflare from $280 to $255, and for Microsoft from $640 to $620 [1] - Despite the target price reductions, Mizuho maintains an "outperform" rating for all three companies [1] Group 2 - Research indicates that the release of budget allocations towards the end of the year is expected to be less aggressive than usual [1] - Investor concerns regarding the disruptive impact of AI on the industry continue to suppress valuation multiples for many software companies, particularly in the SaaS sector [1]

但需要指出的是，部分调研显示年底预算集中释放力度较往常有所缓和。此外，投资者对AI引发行业 颠覆的持续担忧，继续压制多家软件公司的估值倍数，SaaS板块尤为明显。" Moskowitz进一步分析称："从估值角度看，当前未来十二个月企业价值销售额倍数较五年峰值低55%， 较平均水平低30%。我们认为未来十二个月的风险回报比颇具吸引力，但较高的不确定性可能带来异常 挑战和波动路径。" 该行称，综合考量，在财报季前，最看好的的个股是Atlassian和微软。 智通财经获悉，周三，投资机构瑞穗证券下调了对多家科技公司的目标股价，使Atlassian(TEAM.US)、 Cloudflare(NET.US)和微软(MSFT.US)成为市场关注焦点。 瑞穗将Atlassian的目标价从245美元下调至225美元，Cloudflare目标价从280美元调降至255美元，微软目 标价从640美元调整至620美元。该机构维持对这三家公司的"跑赢大市"评级。 分析师Gregg Moskowitz在客户报告中指出："我们第四季度的市场调研整体表现稳健。公有云/消费数据 点普遍良好，人工智能应用需求依然非常强劲。网络安全需求较为健康 ...

来源：环球网 在内容与服务方面，Arm架构Win11 PC的用户迎来了重大利好。现在，玩家可以直接通过Xbox PC应用 下载并游玩大量游戏。微软透露，目前已有超过85%的Game Pass游戏与Arm设备兼容，并且公司正与 合作伙伴持续推进更多作品的适配工作。此外，据称，其中，用于在Arm设备上运行x86/x64软件的 Prism模拟器现已支持AVX和AVX2指令集。 【环球网科技综合报道】1月22日消息，微软近日正式宣布Xbox应用全面支持所有基于Arm架构的 Windows 11 PC，这一举措为Arm设备用户打开了畅玩Xbox游戏的大门，标志着微软在游戏跨设备体验 领域迈出了重要一步。 值得注意的是，得益于Epic Anti-Cheat（EAC）的支持，《战争机器：重装版》《堡垒之夜》等热门游 戏如今也能够在Arm设备上流畅运行。（青山） ...

格隆汇1月22日｜花旗发表报告指，对微软(MSFT.US)维持建设性看法，预期Azure业务在2026财年下半 年将加速增长。然而，由于个人电脑需求疲软导致非Azure业务2026年预估值微幅下调，加上OpenAI相 关支出增加，将公司目标价由690美元下调至660美元，评级"买入"。 报告指，经销商调查显示微软季度业绩微幅下滑，但合作伙伴调查与CIO调查结果更为乐观，指出 Azure持续保持动能且订单管道强劲。尽管第二财季业绩可能呈现好坏参半，但该行对微软下半年业绩 乐观，因强劲订单与扩增产能将推动Azure加速增长并引发预测上调趋势。微软仍属超大型科技股首 选，其多元高投资报酬率的人工智能变现途径，可望带动营收与获利持续加速增长。 ...

Real-world assets tokenization platform Ondo Finance (CRYPTO: ONDO) launched hundreds of blockchain-based stocks, exchange-traded funds, bonds, and commodities on Solana (CRYPTO: SOL) on Wednesday.Solana Goes TradFiOndo Finance said in an X post that it’s bringing the “full TradFi portfolio” to Solana, one of the most popular networks for decentralized finance.More than 200 assets, including Mag 7 stocks such as NVIDIA Corp. (NASDAQ:NVDA) and Microsoft Corp. (NASDAQ:MSFT) , ETF’s such as iShares MSCI Emergi ...

Core Insights - The Invesco WilderHill Clean Energy ETF (NYSEARCA:PBW) has experienced a significant increase in share price, climbing 74% over the past year, from approximately $20 to $35 [1] Company Performance - The ETF's share price growth indicates strong investor interest and confidence in clean energy investments [1]

当地时间2026年1月20日，瑞士达沃斯，世界经济论坛（WEF）年会期间，微软公司董事长兼首席执行 官萨提亚·纳德拉发表演讲。视觉中国 图 当地时间1月20日，微软CEO萨提亚·纳德拉（Satya Nadella）在瑞士达沃斯世界经济论坛上同贝莱德 CEO拉里·芬克（Larry Fink）对谈时表示，能源成本将成为决定各国AI竞赛成败的关键。"任何地区的 GDP增长都将与使用AI时的能源成本直接相关。" Token已经成为一种新的全球性"商品"，AI模型用户购买token用于执行任务。在纳德拉看来，每个经济 体及其企业的工作是将这些token转化为经济增长，因此token的价格越低越好。"你是否具备低廉的能源 生产能力？能否建设数据中心？系统中硅芯片的成本如何？" 在企业管理方面，大型企业是否会因AI高昂的开发成本而具备先天优势？纳德拉表示，初创公司能从 零开始构建AI体系，而传统巨头虽在数据、规模和客户关系方面保有优势，却受困于变革管理难 题，"没有任何一方能安于现状。" 此外，纳德拉表示，欧洲若要在AI时代取得成功，就需要有更广阔的全球视野。"欧洲的竞争力在于其 产出的全球竞争力，而不仅限于欧洲内部。"他 ...

Group 1 - Microsoft has a current stock price of $444.11, reflecting a decrease of 2.29% or $10.41, with a market capitalization of approximately $3.3 trillion [4] - The stock has fluctuated between a low of $438.69 and a high of $452.69 during the trading day, and over the past year, it reached a high of $555.45 and a low of $344.79 [4] - Alex Haissl from Redburn Partners has set a price target of $450 for Microsoft, indicating a slight potential increase from its current trading price [5] Group 2 - Microsoft is integrating LinkedIn data into its Copilot and Work IQ tools to enhance productivity and hiring processes [5] - LinkedIn's transformation is expected to drive its fiscal 2026 revenues to approximately $19.57 billion, marking a 9.9% year-over-year growth [2][5] - LinkedIn's professional network exceeds 1.2 billion members, providing Microsoft with a unique dataset that offers a competitive edge [3]

Market Overview - The stock market experienced a significant rally due to positive developments in international trade, particularly the suspension of planned tariffs on EU countries by President Trump [1] - Major U.S. stock indexes saw notable gains, with the Dow Jones Industrial Average increasing by 1.2% to 49,077.23, the S&P 500 rising by 1.16% to 6,875.62, and the Nasdaq adding 1.18% to 23,224.82 [1] Company Highlights - **Intel Corporation (NASDAQ:INTC)**: - Intel's stock rose by 11.72% to close at $54.25, nearing its 52-week high of $54.41, with an after-hours gain of 1.2% to $54.92 [2] - Anticipation builds for Intel's fourth-quarter earnings report, expected to show earnings per share of 8 cents and revenue of $13.38 billion, following a previous quarter where revenue was $13.65 billion and earnings per share were 23 cents [3] - **Moderna Inc (NASDAQ:MRNA)**: - Moderna shares surged by 15.84% to $49.81, reaching a 52-week high of $50, with an after-hours increase of 4.4% to $52 [4] - Investor enthusiasm is driven by a recent update on a cancer therapy study in collaboration with Merck & Co, which showed significant improvements in recurrence-free survival for melanoma patients [5] - **The Metals Company Inc (NASDAQ:TMC)**: - TMC's stock climbed by 13.31% to $8.17, with an after-hours increase of 9.4% to $8.94 [6] - The company welcomed a new rule from the National Oceanic and Atmospheric Administration that modernizes regulations for deep seabed mining permits, aligning with TMC's strategy for transitioning to commercial production [7] - **Microsoft Corporation (NASDAQ:MSFT)**: - Microsoft's stock fell by 2.29% to $444.11, remaining below its 52-week high of $555.45 [8] - CEO Satya Nadella emphasized the need for artificial intelligence to deliver tangible benefits to maintain public trust, particularly in sectors like healthcare and education [8] - **Lucid Group Inc (NASDAQ:LCID)**: - Lucid's stock jumped by 17.88% to $11.47, with an expansion of its manufacturing partnership in Saudi Arabia enhancing its growth outlook [9] - The collaboration with Rockwell Automation aims to implement advanced manufacturing systems at Lucid's plant, providing real-time visibility and control over production lines [10]