美股周三走势震荡，盘中跳水引发波动率指数VIX走高，投资者认为超预期的就业报告可能会推迟美联 储下一次降息。 截至收盘，道指跌66.74点，跌幅0.13%，报50121.40点，纳指跌0.16%，报23066.47点，标普500指数微 跌不到0.01%，报6941.47点。 | 道琼斯工业平均 | 纳斯达克 | 标普500 | | --- | --- | --- | | 50121.40 | 23066.47 | 6941.47 | | -66.74 -0.13% -36.00 -0.16% -0.34 -0.34 0.00% | | | 【热门股表现】 明星科技股涨跌互现，特斯拉涨0.80%，英伟达涨0.78%，苹果涨0.65%，消息称公司对Siri虚拟助手的 升级在测试阶段遭遇阻碍，可能导致多个备受期待的功能发布推迟。Meta跌0.30%，亚马逊跌1.34%， 微软和谷歌跌超2%。 | 名称 | 现价量 涨跌 ▶ 涨跌幅= | | --- | --- | | 特斯拉(TESLA) | 428.605 0.80% 3.395 | | TSLA.O | | | 英伟达(NVIDIA) | 190.005 0. ...

Group 1: Nvidia - Nvidia's stock rose by 0.78% with a trading volume of $27.357 billion, and UBS raised its target price from $235 to $245 [1] - Goldman Sachs increased its earnings forecast for Nvidia's Q4 FY2026 and maintained a target price of $250, emphasizing the visibility of revenue for 2027 as a key catalyst [1] - Over 90% of analysts rated Nvidia as "Buy" or "Hold," with an average target price of $260.26, reflecting optimistic expectations for AI computing demand [1] Group 2: Tesla - Tesla's stock increased by 0.80% with a trading volume of $24.343 billion, amid reports of the departure of Vice President Raj Jaganathan after 13 years with the company [10] - This departure is part of a recent trend of executive exits from Tesla and xAI [10] Group 3: Micron - Micron's stock surged by 9.94% with a trading volume of $19.06 billion, as Morgan Stanley raised its target price from $350 to $450 while maintaining an "Overweight" rating [10] - The new target price exceeds Micron's closing price of $410.34, aligning with a generally positive outlook from analysts [10] Group 4: Microsoft - Microsoft's stock fell by 2.15% with a trading volume of $16.655 billion, coinciding with Bill Gates' unexpected visit to Shanghai for an event [2][11] Group 5: Google - Google's Class A shares (GOOGL) declined by 2.39% with a trading volume of $14.044 billion, as the company introduced a new feature allowing consumers to purchase products directly through its AI-driven search engine and Gemini chatbot [11] - This initiative is part of Google's broader strategy to monetize user interactions with AI [11] Group 6: SanDisk and Palantir - SanDisk's stock rose by 10.65% with a trading volume of $11.951 billion, contributing to a general increase in storage sector stocks [12] - Palantir's stock fell by 2.75% with a trading volume of $7.071 billion, although Daiwa Capital Markets upgraded its rating from Neutral to Buy, while lowering the target price from $200 to $180 [12] Group 7: Shopify - Shopify's stock decreased by 6.70% with a trading volume of $6.221 billion, as the company positions "agent commerce" as an expansion channel rather than a product feature [12] - The company's president noted that orders from AI-driven searches are approximately 15 times higher than the same period last year, indicating significant growth potential [12]

Core Viewpoint - The U.S. stock market experienced a stark divergence, with AI software stocks rebounding sharply while storage chip stocks faced significant declines, illustrating a clear "ice and fire" scenario on the Nasdaq stage [1][3]. Group 1: AI Software Stocks - A notable AI software stock surged 14.73% to close at $475, recovering from a nearly 40% decline from its peak of $785 last June [1][4]. - The recent rebound was supported by significant industry developments, including ByteDance's launch of its new AI video model Seedance 2.0 and Google's plan to acquire a customer service software company to enhance its AI capabilities [4]. - Analysts on Wall Street are shifting their views, suggesting that AI will enhance existing software rather than completely replace it, as enterprise workflows are complex and sticky [4]. Group 2: Storage Chip Sector - The storage chip sector faced a collective collapse, with SanDisk dropping 7.16%, Western Digital plummeting 8.65%, and Seagate Technologies falling 6.77% [1][8]. - The primary reason for the decline was the excessive price increases over the past six months, driven by surging demand for high-performance storage from AI servers, leading to profit-taking [8]. - Recent industry data indicated a slight decline in DRAM prices, breaking the market's expectation of continuous price increases, which contributed to investor concerns about the sustainability of the storage chip supercycle [8][12]. Group 3: Market Dynamics - The Nasdaq index fell by 0.59%, while sectors related to AI applications, such as cultural media and toys, saw gains of 1.5% to 3.5% [5]. - The ETF focused on software investments has seen its scale grow to 6.658 billion yuan, with valuations at a near one-year low, indicating a shift in capital from overvalued hardware sectors to underpriced software and application companies [5]. - The overall market structure is experiencing a split, with the Dow Jones index slightly up by 0.10%, while the Nasdaq and S&P 500 indices fell by 0.59% and 0.33%, respectively [12]. Group 4: Chinese Concept Stocks - Chinese concept stocks demonstrated resilience, with the Nasdaq China Golden Dragon Index rising by 1.09%, outperforming the major U.S. indices [11][12]. - The strong performance of Chinese stocks is attributed to their valuation being at a low point, alongside supportive domestic policies for platform economy and technological innovation [12]. - Key companies like Alibaba Cloud reported a 26% revenue growth in the latest quarter, indicating robust core business performance [12].

Core Insights - SanDisk's stock is experiencing significant gains due to a tightening supply-demand landscape for memory chips, particularly NAND, which is expected to drive earnings and margins to cycle highs [2][4] - Goldman Sachs forecasts a substantial undersupply of DRAM and NAND memory in 2026 and 2027, with DRAM undersupply projected at approximately 4.9% and 2.5% respectively [2] - The demand for server-related memory is surging, driven by the increasing need for memory in AI servers and data centers, projected to account for over 50% of total DRAM demand in the coming years [3] Company Positioning - SanDisk is identified as a key player in the NAND market, with expectations for meaningful upward revisions to earnings as supply remains tight [4] - The company is one of the five largest suppliers of NAND flash memory semiconductors globally and is vertically integrated, producing most of its flash chips in Japan through a joint venture with Kioxia [6] - SanDisk's manufacturing capabilities and market position will be crucial as demand for NAND is expected to rise sharply due to increasing enterprise storage needs and the growth of AI applications [7] Earnings Outlook - SanDisk is expected to provide its next financial update on May 6, 2026 [8] - The earnings per share (EPS) estimate is projected at $10.58, a significant increase from a loss of $0.30 year-over-year [10] - Revenue estimates are set at $4.37 billion, up from $1.70 billion year-over-year [10] Stock Performance - SanDisk shares have surged over 1,500% over the past year, climbing from a low of $29.62 to a high of $695.51, with strong bullish momentum reflected in trading above its 20-, 50-, and 200-day moving averages [5] - The stock was up 10.53% at $598.92 at the time of publication [11] Analyst Consensus - The stock carries a Buy Rating with an average price target of $512.76, with recent analyst upgrades raising targets to $750.00 by Citigroup and Barclays [9][10]

Core Viewpoint - Sandisk (SNDK) has emerged as a leading investment due to the increasing demand for data storage and NAND flash technology, driven by the AI revolution and memory market shortages [1][5]. Company Performance - Sandisk's stock has increased by 1,500% over the trailing 12 months but has recently experienced an 18% decline from its peak [2]. - The company's net income has risen more than sevenfold in the past year, indicating strong financial performance [8]. - Sandisk's forward price-earnings multiple is currently at 26 times, which is considered low compared to its previous levels [8]. Market Trends - The memory and storage market is expected to benefit significantly from the AI revolution, with substantial demand for compute power [5]. - Data center stocks, hyperscalers, and power companies are also anticipated to gain from these growth trends [5]. - Despite the overall positive outlook for the memory market, there is a suggestion that investors may not be fully aware of the potential in this sector compared to other tech segments [6].

经济观察网闪迪股价近期大幅波动主要受AI驱动业绩增长与行业强周期性风险交织影响。 行业与风险分析 历史周期规律：存储行业具有强周期性，供需错配常导致价格剧烈波动。当前市场出现与2022年相似的 风险——供应商为争夺云厂商订单超前采购，超大规模企业可能高估需求，导致潜在供应过剩。高位获 利了结：截至2026年2月11日，闪迪股价年初至今累计上涨148.96%，过去半年涨幅一度超1200%。2月4 日单日跌幅达15.95%，反映市场对估值过高的担忧及资金从科技股轮动。 机构观点 乐观预期：部分机构基于AI需求持续性上调目标价，认为HBM等技术差异可能延长本轮周期。风险警 示：华创证券等机构提示需关注存储价格波动及产能扩张可能引发的供需逆转风险。 业绩经营情况 财报超预期：2026年1月29日发布的2026财年第二季度财报显示，营收达30.25亿美元，非GAAP净利润 9.67亿美元，数据中心业务收入环比飙升64%。公司预计第三季度营收指引为44亿-48亿美元，远超市场 预期。AI技术驱动：人工智能推理应用提升存储需求，尤其是企业级SSD需求激增。闪迪通过PCIe Gen5产品认证及与铠侠合资扩产，强化了在NAND ...

每经AI快讯，2月11日，美光科技盘初涨幅扩大至9.7%，闪迪涨超10%。 ...

Market Overview - The US stock market opened with all three major indices rising, with the Nasdaq up by 0.76%, the Dow Jones up by 0.41%, and the S&P 500 up by 0.62% [1] Company Performance - Storage concept stocks rebounded, with Micron Technology rising over 6%, SanDisk increasing by over 9%, and Western Digital up by over 4% [2] - Ride-sharing company Lyft saw a significant decline, dropping over 15% as its Q4 2025 revenue fell short of market expectations [2]

消息面上，美光表示，新NAND闪存晶圆厂正按计划推进，预计将于2028年下半年实现首批晶圆出货； HBM4客户出货量也正在按计划于2028年第一季度逐步提升，比原计划提前了一个季度。美光首席财务 官还指出，市场需求远超供应，预计供应紧张的局面将持续到2026年以后。 此外，三星电子首席技术官Song Jai-hyuk预计，市场对内存芯片的强劲需求不仅将持续今年全年，而且 还将持续到明年，因为人工智能推动了强劲的需求。(格隆汇) 存储概念股集体走强，闪迪涨超9%，美光科技涨超7%，西部数据涨近4%，希捷科技涨超3%。 ...

Group 1 - The core viewpoint of the article highlights a significant increase in memory prices since the beginning of 2026, with prices rising by 80% to 90% compared to the end of Q4 2025, driven by demand in the AI data center construction sector [1] - Major storage stocks, including Micron Technology (MU.US), Western Digital (WDC.US), SanDisk (SNDK.US), and Seagate Technology (STX.US), experienced pre-market gains of over 5% and 4% respectively, reflecting positive market sentiment [1] - UBS analysts predict that meaningful supply relief in the global storage industry will not occur until around 2028, indicating a prolonged period of strong demand and pricing power for the memory industry [1] Group 2 - The report from Counterpoint Research indicates that all categories of memory prices, including DRAM, NAND, and HBM, have reached historical highs, with general server DRAM being a key driver of the current price surge [1] - In the short term, UBS recommends focusing on the two nearly monopolistic HDD manufacturers, Seagate and Western Digital, as they are expected to benefit from the ongoing demand in the memory sector [1]