摩根士丹利发表研报指，随着存储芯片市场面临2018年式的供应短缺，将美光列为首选股，并将其目标 价从220美元上调至华尔街最高的325美元，维持"增持"评级。该行承认整个板块的估值已经很高，但认 为美光仍有上升空间。 ...

Group 1: Skillsoft Corp. (SKIL) - Skillsoft is an instructor-led training services company with a Zacks Rank 1 [1] - The Zacks Consensus Estimate for its current year earnings has increased by 519.3% over the last 60 days [1] - Skillsoft has a PEG ratio of 0.33 compared to the industry average of 1.13, indicating strong growth potential [1] - The company possesses a Growth Score of B [1] Group 2: Micron Technology, Inc. (MU) - Micron is a memory and storage products company with a Zacks Rank 1 [2] - The Zacks Consensus Estimate for its current year earnings has increased by 24.4% over the last 60 days [2] - Micron has a PEG ratio of 0.52 compared to the industry average of 1.51, suggesting favorable growth characteristics [2] - The company possesses a Growth Score of A [2] Group 3: Futu Holdings Limited (FUTU) - Futu is an online brokerage and wealth management platform with a Zacks Rank 1 [3] - The Zacks Consensus Estimate for its current year earnings has increased by 6.2% over the last 60 days [3] - Futu has a PEG ratio of 0.67 compared to the industry average of 1.13, indicating potential for growth [3] - The company possesses a Growth Score of B [3]

Group 1 - U.S. storage concept stocks are experiencing a decline in pre-market trading [1] - Micron Technology is down by 2.9% [1] - Western Digital has decreased by 4.9% [1] - SanDisk is down by 5.3% [1]

Group 1 - The core viewpoint of the article indicates a decline in the stock prices of storage concept stocks in the US market, specifically highlighting the drops in major companies [2] Group 2 - Micron Technology experienced a decrease of 2.9% in its stock price [2] - Western Digital saw a decline of 4.9% in its stock price [2] - SanDisk's stock price fell by 5.3% [2]

Core Insights - Investors should focus on foundational technologies like compute, networking, and energy rather than just OpenAI, which is seen as a key player in the AI sector [2][6] Group 1: Investment Opportunities - Micron Technology Inc. (NASDAQ:MU) is identified as a top "accelerator" pick due to the increasing demand for High Bandwidth Memory (HBM), which is critical for AI advancements [3][4] - Reddit Inc. (NYSE:RDDT) is highlighted as a leading pick in the AI software and data category, with its valuable data being essential for AI models [5][6] Group 2: Market Dynamics - OpenAI's transition to a for-profit structure is expected to intensify competition and pressure on publicly traded companies [6][7] - Micron's stock has shown significant growth, advancing 180.43% year-to-date and 145.10% over the year, indicating strong market performance [8] - Reddit's stock has increased 22.25% year-to-date and 53.58% over the year, although it has a weaker short-term price trend [9]

韩国《朝鲜日报》11月12日报道，包括三星电子、SK海力士、铠侠和美光在内的全球NAND闪存厂 商，正于今年下半年同步缩减NAND闪存供应。 分析指出，供应调整的目的是推动价格上涨。此外，由于这些厂商正将生产设施向四级单元(Quad- Level Cell，QLC)工艺转型，生产损耗将不可避免，而QLC工艺的需求正因人工智能数据中心而大幅激 增。 与此同时，三星电子、SK海力士和铠侠正推动NAND闪存价格回升，在去年全年NAND闪存价格一直 处于"成本线水平"。 有消息称，三星电子内部正考虑将价格上调20%至30%以上，同时正与海外主要客户商议明年的NAND 闪存供应量。 12日，《朝鲜日报》商业版获取了咨询公司Omdia的年度NAND闪存生产数据。数据显示，三星电子已 将今年的NAND晶圆生产目标下调至472万片，较去年的507万片减少约7%。铠侠也将产量从去年的480 万片降至今年的469万片。Omdia认为，三星电子和铠侠的减产趋势预计将持续至明年。 SK海力士和美光同样在保守地限制生产规模，期望借助价格上涨获利。 海外市场研究机构指出，仅上一季度就上涨15%的NAND闪存价格，未来可能飙升40%到50 ...

Core Insights - The capital expenditure in the memory industry is expected to remain conservative in 2026, despite rising average selling prices (ASP) and increased profitability for suppliers [1] - The focus of investment is shifting from capacity expansion to process technology upgrades and high-value products [1][4] DRAM Sector - Capital expenditure for the DRAM industry is projected to reach $53.7 billion in 2025 and further grow to $61.3 billion in 2026, representing a 14% year-on-year increase [1] - Micron is anticipated to be the most aggressive player, with a projected capital expenditure of $13.5 billion in 2026, a 23% increase, focusing on 1 gamma process penetration and TSV equipment [2] - SK hynix is expected to invest $20.5 billion, a 17% increase, to expand HBM4 capacity [2] - Samsung plans to invest $20 billion, an 11% increase, for HBM 1C process penetration and slight increases in P4L wafer capacity [2] - Limited cleanroom space availability restricts capacity expansion for most DRAM suppliers, with only Samsung and SK hynix having slight opportunities for expansion [2] NAND Flash Sector - Kioxia/SanDisk is identified as the most proactive in expanding capacity, with a projected investment of $4.5 billion in 2026, a 41% increase, to accelerate BiCS8 production and invest in BiCS9 development [3] - Micron aims for a slight increase in NAND Flash capacity with a focus on G9 processes and Enterprise SSD business, expecting a 63% year-on-year increase in capital expenditure [3] - Samsung and SK Hynix/Solidigm are expected to reduce or limit NAND Flash capital expenditure, prioritizing investments in HBM and DRAM [3] - The surge in NAND Flash demand is driven by the rapid increase in storage capacity needs due to AI and a shortage of HDDs, leading cloud service providers to shift orders [3] Market Outlook - The memory industry has experienced multiple cycles, leading to a conservative approach in capital expenditure and expansion strategies [4] - The focus on process upgrades and hybrid-bonding implementation rather than capacity expansion will result in limited supply growth, with NAND Flash market shortages expected to persist throughout 2026 [4]

Group 1 - The storage chip sector is experiencing significant activity, with companies like Baiwei Storage and Jiangbolong reaching historical highs in stock prices [1] - The Tianhong Chip ETF (159310) tracking the chip industry index has rebounded nearly 1.5%, with several component stocks showing strong gains [1] - The Tianhong Chip ETF has seen a notable inflow of funds, accumulating over 10 million yuan in net inflows over the past week, ranking first among similar stocks in the Shenzhen market [1] Group 2 - Major storage leaders, including Samsung and SK Hynix, are planning to increase NAND prices and reduce supply, with Samsung considering a price hike of 20% to 30% [2] - The current storage price increase cycle is expected to be stronger and more sustained than previous cycles, indicating a need for attention in the storage sector [2] Group 3 - The storage shortage and price increase trend is anticipated to continue throughout 2026, with expectations of profit elasticity exceeding forecasts [3] - A new domestic platform for 12-inch silicon photonic chip production has been launched, marking a significant breakthrough in the silicon photonics field [3] - The core value of silicon photonics technology lies in chip design and wafer manufacturing, shifting the industry paradigm from "packaging-led" to "design-led" [3]

｜2025年11月13日星期四｜ NO.1国家能源局：打造以新能源为主体的多能耦合综合供能站 11月12日，国家能源局发布关于促进新能源集成融合发展的指导意见。其中提到，有序推动新能源供热 供暖应用。鼓励在纺织、医药、造纸、食品加工等用热(冷)需求旺盛的产业园区，通过可再生能源电力 供热、热泵供热(制冷)、光伏光热一体化等方式，打造以新能源为主体的多能耦合综合供能站。摸清新 能源供暖资源潜力，科学布局地热能供暖，加强地热能梯级利用，因地制宜发展绿电直连等直接使用绿 电的供暖模式，积极探索地热能、风光、生物质及传统化石能源多热源互补高效利用模式。 NO.2三星电子、SK海力士和铠侠计划提高NAND价格，并削减产量 11月12日，三星、SK海力士、铠侠、美光这四大存储龙头今年下半年都纷纷削减NAND闪存供应量。 同时，三星电子、SK海力士和铠侠等正在谋划推动NAND价格上调。其中，三星目前正与海外大型客 户讨论明年的供货量，并在内部考虑将价格上调20%至30%。 NO.3财政部：2024年全国政府采购规模为33750.43亿元 财政部11月12日消息，2024年全国政府采购规模为33750.43亿元。其中，货物、 ...

Core Insights - Investors are encouraged to focus on companies that generate strong returns after accounting for all operating and non-operating expenses, making profitable companies a smarter investment choice [1] Company Analysis - Micron Technology, Inc. (MU) has a 12-month net profit margin of 22.9%, leading the profitability screen [6][9] - Vertiv Holdings Co (VRT) has a 12-month net profit margin of 10.7%, indicating solid operating efficiency [7][9] - Corning Incorporated (GLW) has a 12-month net profit margin of 9.2%, reflecting consistent performance [10][9] Profitability Metrics - The net income ratio measures a company's profitability by reflecting the percentage of net income to total sales revenues, with a higher ratio indicating better revenue generation and expense management [3] - Additional screening parameters include Zacks Rank equal to 1, trailing 12-month sales and net income growth higher than the industry, and a strong buy percentage rating greater than 70% [4][5]