Core Insights - Tesla's Q4 earnings report showed an EPS of $0.50, beating Wall Street estimates of $0.45 by 11%, but down 32% year-over-year. Revenue was $24.901 billion, slightly above the expected $24.78 billion, but down 3% year-over-year. Operating income for Q4 was $1.41 billion, exceeding the estimate of $1.32 billion [1][4] Group 1: Financial Performance - Tesla's Q4 vehicle deliveries dropped 15.6%, reflecting a slowdown in the legacy EV business due to the loss of federal tax credits. Despite this, margins increased by 4%, indicating a positive sign for the company [1] - Tesla Energy achieved a record gross profit of $1.1 billion, marking its fifth consecutive record quarter, driven by high demand for large-scale battery energy storage systems [3][12] Group 2: Strategic Investments - Tesla plans to invest $2 billion in xAI to integrate AI into physical applications, capitalizing on the rapid growth of xAI, which reached a valuation of approximately $230 billion following a successful Series E funding round [2][5] - The investment in xAI is expected to create synergies between Tesla and xAI, enhancing Tesla's capabilities in the AI sector [2] Group 3: Future Growth Initiatives - Tesla confirmed the production timeline for the Optimus Humanoid robot and is ramping up production for the Tesla Semi and Cybercab, with preparations ongoing for a launch in the first half of 2026 [7][8] - The company is expanding its robotaxi fleet, which has driven 650,000 miles since June 2025, and plans to enter seven additional markets in the first half of 2026 [9][10] Group 4: Market Positioning - Investors are shifting focus from Tesla's slowing legacy EV business to emerging sectors such as physical AI, energy, and a broad ecosystem of products, similar to Apple's strategy with its devices and services [12][13] - Tesla's strong cash reserve of over $40 billion provides a solid foundation to support its transition and upcoming product launches [16][17]

苹果周四将发布业绩。 周三盘后，Meta、微软和特斯拉发布最新业绩。 微软发布第二财季财报显示，营收812.7亿美元，同比增长17%，市场预期802.7亿美元，净利润384.6亿 美元，合每股收益EPS 5.16 美元，较去年同期241.1 亿美元（合每股收益3.23 美元）大幅增长。 微软盘后股价跌近7%。微软智能云业务板块（含 Azure 云基础设施）营收达329.1亿美元，同比增长近 29%，略好于市场预期，不过Azure 云服务及其他云业务营收同比增长39%，而该业务在财年第一季度 的同比增速为40%。生产力和商业流程业务板块营收341.2亿美元，同比增长约16%，个人计算业务板块 营收142.5亿美元，同比下跌约3%。 新年以来，随着投资者试图判断人工智能的应用将如何颠覆此前龙头企业的商业模式，大盘科技股、软 件股与芯片股内部的分化态势正持续加剧。因此这些热门赛道公司的业绩，特别是资本开支状况受到了 广泛关注。 按照日程安排，苹果周四将披露最新业绩。 Meta公布利好营收预测，盘后涨逾7% 脸书母公司Meta盘后涨逾7%，超市场预期的销售额业绩指引提振市场情绪。公司第四财季营收598.9亿 美元，同 ...

Group 1 - 31 provinces in China have announced their economic growth rates for 2025, with nearly half exceeding last year's targets. Tibet leads with a growth rate of 7%, followed by Gansu at 5.8% and Hebei and Henan at 5.6% [4] - Shenzhen Metro Group has provided an additional loan of 2.36 billion yuan to Vanke for debt repayment, with a three-year term and an interest rate of 2.34% [4] - Hang Seng Bank has officially delisted from the Hong Kong Stock Exchange, following a privatization plan by HSBC that was approved by the Hong Kong High Court [5] Group 2 - ByteDance has implemented new social media guidelines prohibiting employees from using company resources for personal profit, which is expected to significantly reduce the number of commercial accounts operated by employees [6] - Amazon announced a restructuring that will affect nearly 16,000 jobs, while continuing to recruit talent in key strategic areas [7] - Tesla plans to cease production of the Model S and Model X vehicles to focus on its "Optimus" robot production line, marking a shift towards a future based on autonomous driving [9] Group 3 - Meta reported fourth-quarter revenue of $59.89 billion, a 24% year-over-year increase, with advertising revenue also up by 24% [17] - Microsoft announced second-quarter revenue of $81.27 billion, with significant contributions from its cloud and productivity segments [17] - Tesla's fourth-quarter revenue was $24.90 billion, a 3% year-over-year decline, with net profit down 61% to $840 million [17]

// 热点头条 // 1. 特斯拉： 2025 年第四季度营收 249.01 亿美元，每股收益 0.5 美元超预期，毛利润率 20.1% ，运营 利润 14.1 亿美元。计划一季度发布 Optimus 第三代量产版本， 2026 年底前开始生产，最终产能每年 100 万台机器人。 2. 工业富联：预计 2025 年第四季度净利润同比上升 56%-63% ， AI 服务器营业收入环比增长超 50% ，受益于全球 AI 算力需求激增，公司在高端制造领域的技术优势进一步凸显。 3. 但斌旗下东方港湾海外基金 ORIENTAL HARBOR INVESTMENT FUND ： 2025 年四季度末持仓总 市值约 13.16 亿美元，折合人民币超 90 亿元，大笔加仓谷歌，第一大重仓股由英伟达变为谷歌，反映 出对 AI 应用端长期价值的看好。 4. 阿斯麦： 2025 年四季度净销售额 97 亿欧元创纪录，订单额 132 亿欧元超预期两倍，上调 2026 年 销售额指引至 340-390 亿欧元，毛利率 51%-53% ，称极紫外光刻机需求为增长主因，同时计划在荷 兰和美国裁员约 1700 人以优化成本结构。 5. 希 ...

Group 1 - Jack Ma emphasizes the importance of teaching children how to effectively use AI rather than debating its necessity, highlighting curiosity, imagination, and creativity as key skills for the AI era [2] - The Ma Yun Rural Teacher Program, initiated by the Jack Ma Foundation in 2015, aims to enhance rural education quality through funding and professional training, selecting 100 teachers annually for support [2] Group 2 - Hunan Mingming Henbang, China's largest snack and beverage retail chain, saw its stock surge by 88.08% upon listing on the Hong Kong Stock Exchange, closing with a market cap of HKD 86.204 billion [4] - The company issued 14.101 million H shares, with a subscription rate exceeding 1500 times, and anticipates net proceeds of over HKD 3 billion from the offering [4] Group 3 - Tesla plans to cease production of Model S and Model X vehicles to transition towards a fully autonomous future, utilizing the "Optimus" robot factory for production [8] - Elon Musk stated that this change is part of Tesla's overall shift towards automation, although support for existing Model S and Model X vehicles will continue [8] Group 4 - SoftBank is reportedly negotiating to invest up to $30 billion in OpenAI, which is seeking to raise up to $100 billion in new funding, potentially valuing the company at $830 billion [10] - OpenAI's largest shareholder, SoftBank, previously invested $22.5 billion in December, increasing its stake to approximately 11% [10] Group 5 - Meta reported Q4 revenue of $59.89 billion, a 24% year-over-year increase, with advertising revenue also rising by 24% to $58.14 billion [11] - The company expects Q1 sales to range between $53.5 billion and $56.5 billion, with a post-earnings stock increase of over 4% [11] Group 6 - Ideal Auto is restructuring its R&D framework, splitting the autonomous driving team into three main groups, with a focus on software and hardware integration [10] - The restructuring aims to enhance the efficiency of the development process and align with the company's strategic goals [10] Group 7 - Amazon announced a reduction of nearly 16,000 jobs as part of an organizational restructuring while continuing to invest in strategic areas [17] - The company aims to balance workforce adjustments with ongoing recruitment in critical functions [17] Group 8 - Longting Technology completed a new round of financing totaling 500 million yuan, with investors including national and local AI industry funds [18] - The funds will be used to accelerate product development and enhance the company's market position [18]

Federal Reserve Decision - The Federal Reserve decided to keep benchmark rates unchanged, with two dissenting votes and a slight upgrade in their view of the labor market [1][3] - The market reaction was muted, with the S&P 500 remaining largely unchanged and the dollar rising as measured by the Bloomberg Dollar Spot Index [2] Market Reactions - Treasury yields showed little movement, while gold prices increased by approximately 4% [2] - Portfolio managers believe the Fed is likely to remain on hold until new data suggests otherwise, with potential rate cuts expected later in the year [4][5] Company Earnings Reports - Major companies like Microsoft, Meta, and Tesla are set to report earnings, with significant market capitalization implications [14] - Microsoft reported $81.27 billion in revenue, exceeding expectations of $80.3 billion, while its cloud revenue grew by 38% [18][32] - Meta's fourth-quarter revenue was $59.89 billion, better than estimates, with a focus on AI investments [19][20] Investment Strategies - Investors are advised to diversify their fixed income and equity portfolios, with a focus on shorter-duration credit markets [10][12] - The corporate credit markets are tight, with spreads approaching 250 basis points, indicating a cautious but stable investment environment [11] Tesla's Future Plans - Tesla plans to invest $2 billion in preferred shares of XAI, Elon Musk's AI venture, indicating a shift towards AI and robotics [36][59] - The company aims to deliver 20 million EVs by 2026, although there are concerns about the feasibility of these targets given recent revenue declines [62][70] Market Sentiment - Investor sentiment appears to be driven more by long-term narratives rather than short-term fundamentals, particularly for companies like Tesla [64][80] - Concerns exist regarding the sustainability of high valuations in the face of deteriorating economic fundamentals for some tech companies [73][74]

当地时间1月28日，据媒体援引知情人士称，马斯克正计划将SpaceX的IPO时间安排在6月中旬——正值 罕见的行星连珠现象与他的生日期间。SpaceX计划融资规模高达500亿美元，估值约1.5万亿美元，将打 破沙特阿美2019年创下的290亿美元IPO纪录。有分析称，SpaceX公司将IPO日期放在6月份的原因之 一，或许就是马斯克的生日在6月28日，这在一定程度上凸显了马斯克对SpaceX公司的个人影响。另据 知情人士透露，该公司瞄准6月中旬上市，届时木星和金星将出现三年多来首次近距离相合。 点评：SpaceX拟于六月启动巨额IPO，潜在估值创历史新高，将引发全球资本市场高度关注。 NO.3Meta第四季度营收同比增24%，盘后一度涨超11% Meta周三盘后公布财报显示，公司第四季度营收598.9亿美元，同比增长24%，预估584.2亿美元；第四 季度广告收入581.4亿美元，同比增长24%，预估567.9亿美元；第四季度每股收益8.88美元，上年同期 8.02美元；第四季度经营利润247.5亿美元，同比增长5.9%。Meta称全年资本支出将达1150亿美元至 1350亿美元，超过分析师平均预期的1106 ...

隔夜股市 | 标的 | 涨跌 | | --- | --- | | 上证指数 | 0.27% | | 深证成指 | 0.09% | | 恒生指数 | 2.58% | | 日经225 | 0.05% | | 韩国KOSPI | 1.69% | | ADDAX | -0.29% | | 英国富时100 | -0.52% | | 法国CAC40 | -1.06% | | 道琼斯指数 | 0.02% | | 标普500指数 | -0.01% | | 纳斯达克综合指数 | 0.17% | 美股三大指数收盘涨跌不一，道指涨0.02%，纳指涨0.17%，标普500指数跌0.01%。存储概念股走高， 希捷科技涨超19%，西部数据涨超10%。热门中概股涨跌不一，纳斯达克中国金龙指数收涨0.32%。 商品市场 | 标的 | 涨跌 | | --- | --- | | NYMEX WTI原油 | 1.31% | | ICE布伦特原油 | 1.23% | | COMEX黄金 | 5.18% | | COMEX白银 | 3.81% | | 比特币 | 0.22% | | LME铜 | 0.74% | | LME铝 | 1.76% | | ...

财报显示，特斯拉2025年第四季度总营收达249.01亿美元，同比下滑约3%，但超出分析师平均预期的 247.9亿美元；归属于普通股股东的净利润为8.4亿美元，同比下滑61%；调整后每股收益为0.50美元， 高于市场预估的0.45美元。公司毛利率提升至20.1%，较上年同期提高3.86个百分点，成本控制初见成 效。 当地时间1月28日，特斯拉发布2025年第四季度及全年财报，核心财务数据整体承压但关键指标超出市 场预期。 从全年表现来看，特斯拉2025年总营收为948.27亿美元，同比下滑3%，为公司历史上首次年度营收下 滑；全年净利润37.94亿美元，同比下滑46%。分业务板块来看，汽车业务仍是营收主力，但其营收同 比下滑11%至722.97亿美元，占总营收的比例持续下降；能源发电及储能业务表现亮眼，营收达38.37亿 美元，同比增长25%，延续高增长态势；其余业务营收合计为186.93亿美元。 本文源自：市场资讯 作者：观察君 财报发布同时，特斯拉披露多项战略动作：其一，公司已于2026年1月16日达成协议，投资约20亿美元 认购埃隆·马斯克旗下人工智能公司xAI的E轮优先股，交易需满足监管审批条件，预计 ...

Group 1 - Tesla's CEO Musk stated that the company needs to build a semiconductor factory [1] - The chips produced will be for "in-house" use [1]