The U.S. stock market opened Friday, January 23rd, 2026, with a mixed sentiment, as investors digested a flurry of corporate earnings, upcoming economic data, and the continued narrative of easing geopolitical tensions. While major indices showed modest movements in early trading, a notable rotation from mega-cap technology stocks towards small-cap companies continues to shape the market landscape.Major Market Indexes: A Divergent StartToday's trading session sees a nuanced performance across the leading U. ...

瑞银将微软目标价从650美元下调至600美元。 ...

Core Insights - Microsoft has returned $368 billion to shareholders over the past decade through dividends and share buybacks, making it the second-largest capital return in corporate history after Apple [2] - The company's strong cash flows from its transition to cloud computing and SaaS models have enabled it to reward investors while investing in Artificial Intelligence [3] Financial Performance - Microsoft has achieved a revenue growth rate of 15.6% over the last twelve months and a 13.2% average growth rate over the last three years [8] - The company has a free cash flow margin of nearly 26.6% and an operating margin of 46.3% for the last twelve months [8] - The minimum annual revenue growth for Microsoft in the last three years was 7.5% [8] Capital Return Strategy - The combination of consistent dividend increases and strategic stock repurchases has enhanced Microsoft's earnings per share and maintained high investor confidence [3] - Dividends and share repurchases are seen as direct returns of capital to shareholders, reflecting management's confidence in the company's financial stability [4] Market Position - Microsoft, along with companies like Meta, is growing at a faster and more predictable rate compared to others, yet has returned a smaller proportion of its market cap to investors [5] - The total capital returned to shareholders as a percentage of current market cap appears inversely related to growth potential for reinvestments [5]

Market Analysis by covering: . Read 's Market Analysis on Investing.com ...

感知方面，常规的 VLA 模型主要依赖视觉和语言，而 Rho-alpha 特别强调触觉输入，让机器人摸着干活。 在具体的插头任务演示中，触觉传感器让 Rho-alpha 能接收到机器人与物体接触时得到的反馈信息，然后可以像人一样根据这些反馈调整姿势和力度。 触觉感知的融入，也可以让机器人在面对易碎、高精度和柔性物品时，提高一些执行任务的可靠性，这是常规的 VLA 模型在感知层面相对缺失的能力。 微软介绍道，未来 Rho-alpha 的版本还将加入力感知等更多传感模态，以提升操作精度和安全性。不过官方也提到，虽然扩展感知能力可以使 Rho-alpha 在操作过程中调整机器人的行动路线，但机器人仍然会犯难以恢复的错误。人类操作员可以使用 3D 鼠标等方式介入，让机器人回到正确的轨迹上，而后 将这些加入学习的过程。 当地时间 1 月 21 日，微软研究院正式发布了 Rho-alpha，这是微软首款专为机器人打造的 VLA+ 模型，基于微软 Phi 系列视觉语言模型构建。 Rho-alpha 旨在将日常自然语言指令实时转化为精确的机器人控制信号，让机器人能够执行双手协同等高度复杂的物理任务，摆脱传统机器人系统中依赖 ...

2026 年 01 月 23 日 通信行业 2026 年度投资策略 聚焦 AI：算力降本向光而行，应用落地网络先行 glmszqdatemark 本公司具备证券投资咨询业务资格，请务必阅读最后一页免责声明 证券研究报告 1 推荐 维持评级 [Table_Author] | 分析师 张宁 | | | --- | --- | | 执业证书： S0590523120003 | | | 邮箱： | zhangnyj@glms.com.cn | | 分析师 | 崔若瑜 | | 执业证书： S0590525110072 | | | 邮箱： | cuiruoyu@glms.com.cn | | 分析师 | 谢致远 | | 执业证书： S0590525110073 | | | 邮箱： | xiezhiyuan@glms.com.cn | | 分析师 范宇 | | | 执业证书： S0590525110074 | | | 邮箱： | fanyu@glms.com.cn | | 研究助理 | 朱正卿 | | 执业证书： S0590125110083 | | | 邮箱： | zhuzhengqing@glms.com.cn | 相 ...

Core Insights - Microsoft has secured a $170 million cloud contract with the Air Force, indicating a significant shift in defense modernization and technology procurement by the Pentagon [1] Group 1: Company Impact - The contract highlights Microsoft's growing influence in the defense sector, showcasing its capabilities in cloud technology [1] - This deal is part of a broader trend of increased spending on technology by defense agencies, reflecting a modernization wave [1] Group 2: Industry Trends - The defense industry is undergoing a transformation, with a focus on advanced technology solutions to enhance operational efficiency [1] - The Pentagon's technology buying patterns are evolving, emphasizing the need for cloud services and digital infrastructure [1]

（文章来源：中国新闻网） 图片来源：微软社交媒体截图 北京时间23日上午，微软(MSFT)再次发文称：由于我们采取了负载均衡措施，服务可用性和功能正在 持续改善。我们正在积极监控性能并进行有针对性的调整，以进一步提高稳定性和可用性，同时继续采 取恢复措施，确保提供可靠的服务体验。 中新网1月23日电据媒体报道，近日，微软(MSFT)多项服务突然中断，导致用户无法使用Office、 Outlook、Teams等服务。多位用户报告Microsoft Outlook出现问题。此后，微软(MSFT)在社交媒体上发 文称，其支持团队正在调查此次服务中断事件。 ...

作者 Deep Value Investing ，内容为转载编译，仅为呈现不同市场观点与研究视角，并不意味着本公众号对文中观点结论认可。 随着 2026 财年第二季度财报将于 1 月 28 日发布，分析师将微软公司（MSFT）的评级下调至 "持有"（Hold）。 分析师的下调主要基于两个因素。 2.公司动态。 让我们先看看华尔街对未来几个季度每股收益（EPS）的普遍预期。 一言以蔽之：自 2026 财年第一季度财报发布后的大涨以来，预期一直保持不变。看看华尔街对未来 12 个月的营收预测，自第一季度以来， 预期也保持不变。 【如需和我们交流可扫码添加进社群】 首先，近期的抛售主要由公司无法控制的外部压力驱动。 科技板块自去年 10 月以来一直承压，而软件基础设施行业（微软是该行业市值最高 的公司）是主要拖累之一。 虽然许多只看基本面的投资者认为这是逢低买入的机会，但分析师认为未来仍有进一步的下行风险。鉴于云业务毛利率承压（上季度为 68%，预计第二财季为 66%）且资本支出（CapEx）仍在增加，分析师认为第三财季的利润率指引可能会发出预警。分析师不再认为提高资 本支出指引对超大规模云服务商是利好。 因此，分 ...

Market Analysis by covering: Microsoft Corporation, Apple Inc, Tesla Inc, Meta Platforms Inc. Read 's Market Analysis on Investing.com ...