PresentationBefore we begin, please note that today's webinar will include forward-looking statements, which are subject to risks and uncertainties that may lead to different outcomes. I'll now hand over to Jon to commence the presentation.Good morning, and welcome to Neuren's investor webinar to discuss our recently announced business updates. My name is Gerry Zhao, Chief Business Officer at Neuren. Joining me today on the call are -- Patrick Davies, Chairman; and Jon Pilcher, Chief Executive Officer. Patr ...

Market Sentiment - The CNN Money Fear and Greed index showed a decline in overall market sentiment, remaining in the "Neutral" zone with a reading of 48.9, down from 50.9 [1][4] - U.S. stocks settled mostly lower, with the Dow Jones index falling more than 50 points, ending a three-session winning streak [1][3] Economic Data - Nonfarm payrolls rose by 130,000, nearly double the economists' expectations of 70,000, with private-sector employment contributing 172,000 of those gains [2] - The unemployment rate unexpectedly declined to 4.3% from 4.4% [2] Sector Performance - Most sectors on the S&P 500 closed positively, with energy, materials, and consumer staples stocks recording the biggest gains [2] - Financial and communication services stocks closed lower, bucking the overall market trend [2] Company Highlights - Micron Technology Inc. (NASDAQ:MU) saw a significant jump of around 10% after Morgan Stanley raised its price target to $450 [1]

今日上午港股 1 . 津上机床中国(01651)涨近6%，再创历史新高。截至发稿，涨4.97% 。消息面上，津上机床中国近 日公布，控股股东日本津上截至2025年12月31日止9个月的财务业绩，在中国，收入为815.8亿日圆， 同比增加28.3%；分部溢利为225.34亿日圆，同比增加51.2%。 2 . 智谱(02513)涨幅扩大逾26%，截至发稿，涨25.8% 。消息面上，2月11日，智谱正式发布新一代旗 舰模型GLM-5。在Coding与Agent能力上，GLM-5取得开源SOTA表现，在真实编程场景的使用体感逼 近Claude Opus4.5，擅长复杂系统工程与长程Agent任务。 3 . 中核国际(02302)再涨超7%，截至发稿，涨6.7% 。消息面上，中核国际近期公布公告称，预期2025 年度收入将不少于24.6亿港元，毛利将不少于2.6亿港元，较2024年同期实现稳步提升。公司收入增长 的核心动力明确来自铀贸易业务交易量的提升。 4. 天域半导体(02658)盘中涨近8%，截至发稿，涨5.18% 。消息面上，近日，天域半导体宣布与韩国 第三代半导体领军企业EYEQ Lab Inc.正式签署战略 ...

算笔账 一批十万的呆料压在库存 每月仓储费➕资金成本至少5k 放半年就亏3万 有料单不知道怎么推广？ 芯片超人已经 累计服务2.2万用户 ，打折清库存，最快半天完成交易！ 找不到，卖不掉，价格还想再好 点 ，都可以来找我们！ | 优势物料，特价出售 | | | | | --- | --- | --- | --- | | 品牌 | 型号 | 年份 | 数量 | | 华邦 | W988D6FBGX6I | 25+ | 6K | | 华邦 | W25Q16JVBYIQ | 22+ | 90K | | 华邦 | W25Q40CLWI | 22+ | 30K | | 英飞凌 | BTS724G | 两年内 | 10k | | --- | --- | --- | --- | | SKYWORKS | RFX2401C | 两年内 | 10k | | 三星 | KLM8G1GETF B041 | 两年内 | 10k | | | CXDB4CBAM | | | | CXMT/长鑫 | ML-A | 两年内 | 10k | | 三星 | K4B4G1646E BYMA | 24+ | 10k | | 三星 | K4B4G164 ...

Core Viewpoint - Morgan Stanley has raised its earnings forecast and target price for Micron Technology (MU.US) due to ongoing supply shortages, reiterating an "overweight" rating and increasing the target price from $350 to $450 [1] Group 1: Earnings Forecast and Price Target - The analyst Joseph Moore expressed excitement about the future of the DRAM sector despite significant changes over the past 12 months [1] - The report anticipates further price increases this year, with DDR5 spot prices rising 30% year-to-date and currently 130% higher than January contract prices [1] - Micron's earnings per share could reach $52 in 2026, driven largely by high bandwidth memory and strong demand from Nvidia [1] Group 2: Market Dynamics and HBM - HBM is a critical component of the market, and its health is essential for justifying higher valuations based on the "higher highs, higher lows" logic [2] - Despite ongoing concerns about Micron's position in HBM4, the rising DDR5 prices have made the market more attractive, with no expected negative impact on earnings [2] - Micron has stated that it is in mass production of HBM4 and has begun shipping to customers, with its HBM supply for the 2026 calendar year already sold out [2]

Group 1 - The U.S. labor market showed strong performance in January, with 130,000 new jobs added, significantly exceeding the Dow Jones estimate of 55,000, and the unemployment rate dropped to 4.3%, the lowest since August 2025 [1] - Following the employment report, traders adjusted their expectations for the Federal Reserve's interest rate cuts, pushing the anticipated timing from June to July, while the 10-year Treasury yield rose by 4 basis points to 4.18% [1] - The software sector faced selling pressure, with notable declines in stocks like Salesforce and ServiceNow, and the iShares Expanded Tech-Software Sector ETF (IGV) has retreated approximately 30% from its 52-week high [1] Group 2 - Despite the overall market decline, certain sectors benefited from positive economic data, particularly AI data center-related hardware companies, with Micron Technology rising over 6% after Deutsche Bank raised its target price and maintained a "buy" rating [1] - TSMC saw an increase of over 4%, while Apple’s stock rose by 2%, indicating strength in storage and precious metals sectors as well [1] - At market close, the three major indices experienced slight declines: the Dow Jones fell by 0.13% to 50,121.40 points, the Nasdaq dropped by 0.16% to 23,066.47 points, and the S&P 500 decreased by 0.01% to 6,941.45 points [2]

2. 苹果：对Siri虚拟助手的升级在测试阶段遭遇阻碍，多个新功能或推迟至iOS 26.5或iOS 27发布，测试 发现存在Siri无法正确处理查询、响应时间过长、准确性问题及打断用户等漏洞。 3. 闻泰科技：注意到荷兰阿姆斯特丹企业法庭针对安世半导体案件做出最新裁决。企业法庭并未撤销此 前的错误决定，未能解除对安世半导体实施的临时措施，亦未能恢复闻泰科技作为安世半导体股东的合 法控制权。企业法庭同时裁定对安世半导体启动调查程序。公司对这一裁决表示极为失望与强烈不满。 中诚信国际宣布将闻泰科技主体信用等级由AA-调降至A、评级展望转为负面，"闻泰转债"债项信用等 级同步下调，主要因安世控制权受限对公司经营、财务造成显著负面影响。 4. 字节跳动：知情人士称，字节跳动正在开发一款人工智能芯片，并正在与三星电子洽谈生产该芯片。 字节计划今年生产至少10万块芯片，并寻求逐步将产量提高至35万块。但字节发言人在一份声明中表 示，相关信息不准确。 5. 阿里：核心管理层今年初在一次内部会议上鼓励团队要继续大胆做闪购，三年内不要担心亏损。阿里 创始人马云曾在内部表示，"淘宝闪购是集团里程碑意义的战役。"据了解，淘宝闪购今 ...

此外，美国劳动力市场仍存在持续下修的阴影，2025年每个月数据都被向下修正。结合年度基准修订和全年各月调整后，去年平均每月新 增就业岗位仅为1.5万个。 Janus Henderson Investors投资组合经理布拉德·史密斯表示："在预测者长期因劳动力市场疲软而对经济持谨慎态度之后，这份数据为经 济强劲增长、劳动力市场改善以及支持消费支出的工资增长提供了有力证据。" 他补充称："美联储在下月决定是否维持利率不变时，会将这一数据纳入考量。鉴于其'观望并依赖数据'的立场，这无疑会增强维持利率不 变的可能性。" 美东时间周三， 1月非农就业报告一度提振投资者情绪，但未能推动市场持续走高，三大股指最终均小幅收跌。 截至收盘，道琼斯指数跌0.13%，报50,121.40点；标普500指数微跌0.34点，报6,941.47点；纳斯达克指数跌0.16%，报23,066.47点。 盘前公布的数据显示，美国1月新增就业岗位13万个，远超市场预期的5.5万；失业率为4.3%，略低于经济学家预测的4.4%。 尽管报告显示就业增幅创一年多来新高，但增长仍集中在少数行业，主要是医疗保健领域，该领域新增岗位12.4万个，是2025 ...

来源：芝麻AI 一、国际新闻 美国众议院以219票对211票通过一项决议，终止特朗普实施的对加拿大关税措施[1]。 美国能源部长赖特表示，对委内瑞拉石油的"禁令"实质上已解除，这是一个历史性转折点，赖特在访问 期间将直接与委内瑞拉临时领导层接触，并计划会见当地石油生产商[2][3][4][5]。 现货白银突破85美元/盎司，日内涨0.69%，纽约期银同步突破该关口，日内涨0.55%[24][25]。 WTI原油失守63美元/桶，日内涨0.91%；美国至2月6日当周EIA原油库存853万桶，远超预期的79.3万桶 [26][27]。 比特币跌破66000美元，日内跌4.18%[28]。 欧洲市场方面，德国总理默茨呼吁欧盟去监管，称欧盟项目审批流程过慢，对比中国速度"太慢了"，需 改革许可流程，未获及时处理的项目应自动视为批准[29]。 法国卫生部通报，已有三名婴儿因食用被召回的婴幼儿配方奶粉死亡，约50起相关报告中14例住院，涉 事产品疑含蜡样芽孢杆菌毒素，此前达能、雀巢等企业已在多国召回相关产品[30]。 美国总统特朗普称，煤炭是美国最可靠的能源形式，今年煤炭发电量将增长约25-30%，同时其表示美 国股市刚 ...

2. 技术与量产：HBM4的研发进度符合预期，已与英伟达等头部AI客户开展联合验证，量产节点仍维持在2026 年第二季度，与此前指引一致。当前主力HBM3E产品在性能、功耗上仍具领先优势，完全支撑英伟达H200、 B200等主力GPU的需求。 3. 市场空间：HBM总体可触达市场（TAM）预计在2028年达到1000亿美元，较2025年的350亿美元实现三年 翻三倍，这一数据来自美光在本次会议及此前财报电话会中的一致表述。 摩根士丹利将美光目标价从350美元大幅上调至450美元，较当前股价隐含约28.6%的上涨空间。 分析师认 为，存储芯片的供应短缺已经蔓延至每一个终端市场，定价权完全掌握在卖方手中。在AI超级周期的驱动下， 传统的周期性估值框架已不再适用，美光正处于盈利能力和估值倍数双重扩张的甜蜜点。 美光认为，在"需求远超供给 + 技术领先（HBM4/1γ/数据中心SSD）+ 长协锁量"三个因素驱动下，公司产品 在 2026 年之后仍将维持紧供需，从而支撑价格与高毛利。 Murphy在Wolfe Research活动上表示 ， 这一产品线 —— 即美光最新一代高带宽内存 —— 目前正在 向客户交付 。 这 ...