// 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 ...

Core Insights - The article discusses investment opportunities in the context of the "AI Endgame," emphasizing the potential for significant economic disruption due to advancements in artificial intelligence and the importance of investing in AI-related companies to avoid being left behind [3][4]. Group 1: AI Cybersecurity - The first recommended stock is a cybersecurity company that has developed an AI-powered platform with a 99.8% effectiveness score in detecting cyber threats, positioning it as a leader in the cybersecurity space [6][7]. - This company has established contracts with over 890,000 clients, including 63% of Fortune 500 companies and government agencies like NASA and the Department of Defense [7]. - The company has shown strong financial performance, with an average revenue growth of 22% and earnings growth of 35% over the past five years, and is expected to continue growing earnings at approximately 14% per year [9]. Group 2: Identity Verification - The second stock focuses on identity verification, leveraging AI to confirm individual identities in real-time, which is increasingly critical due to the rise of AI-generated deepfakes leading to significant financial theft [14][15]. - This company has 19,000 organizations relying on its technology, including the U.S. Department of Defense, indicating its strong market position [16]. - The company has recently become profitable and is experiencing revenue growth, trading at about 24 times forward earnings, which reflects a recovery from previous performance issues [16][17]. Group 3: Rare Earth Materials - A third stock mentioned is a rare-earth permanent magnet producer that has secured a $500 million supply deal with Apple and is expected to significantly increase production by 2028 [20]. - The company is positioned as a critical alternative to Chinese suppliers, which could lead to substantial growth as demand for rare-earth materials increases in the AI sector [20]. - Analysts expect this company to report a profit this year, although it currently has a high forward PE ratio of about 120, indicating potential volatility in its financial performance [21]. Group 4: Semiconductor Manufacturing - The fourth stock is a semiconductor manufacturer that produces advanced chips essential for AI systems, with major clients including Google, Amazon, and Microsoft [23][24]. - This company is recognized for its significant market share and is growing earnings at over 20% annually, trading at about 20 times forward earnings estimates [25]. - The company faces political risks due to its operations in Taiwan, but it is also expanding capacity in the U.S. to mitigate these concerns [25]. Group 5: Data Center Communication - The final stock discussed is involved in high-speed data communication technology crucial for AI operations, having secured deals with major tech players like Microsoft and Amazon [28][29]. - This company plays a vital role in ensuring efficient data processing within data centers, which is essential for the performance of AI applications [27][28]. - The competitive landscape in this sector is diverse, with several companies providing similar technologies, indicating a robust market opportunity [30].

Taiwan Semiconductor Manufacturing Company (TSM), or TSMC, is the world’s largest and most advanced semiconductor foundry. While it does not design chips, it is a major supplier to tech companies, producing cutting-edge chips (such as 3 nm, 5 nm, and lower). TSMC delivered a blowout quarter and strong end to 2025, thanks to strong demand for its cutting-edge technologies and the rapid adoption of AI-based applications. The stock rose 50.7% last year but is now down 3% from its 52-week high of $351.33. Le ...

Market-moving information surfaces between earnings events, reshaping expectations before quarterly reporting cyclesInterim data updates offer early insight into demand, production, and profitability across key industriesMonitoring interim events helps investors anticipate volatility, refine forecasts, and manage portfolio riskMacroeconomic volatility feels like it has been ratcheted up a few notches in recent years. Stock prices, interest rates, commodity trends, and currency pairs turn on a dime, while ...

​Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the High-Flying Tech Stocks to Buy. On January 19, DBS reiterated a Buy rating on the stock with a price target of $391. Earlier, on January 16, TD Cowen maintained a Hold rating on the stock and raised the price target from $325 to $370. ​Analysts at TD Cowen noted that they have another upside quarterly outlook for the company. This optimistic outlook is based on the company raising its long-term revenue growth target to 25% CAGR f ...

Welcome back to Morning Trade Live. It's time now for the big picture. So, let's welcome in the team from Charles Schwab.We've got Nathan Peterson, director of derivatives analysis, Schwab Center for Financial Research, and Mike Townsen, managing director, legislative and regulatory affairs at Charles Schwab. Nate, we've got to start with you. Uh, what a busy day.Obviously with the FOMC, we kind of know what they're going to do. Very earnings driven day. We've had Trump out this morning saying America is ba ...

It was only barely a week ago that President Donald Trump stunned the world with his Greenland bluster, which threatened to send stocks into a downward spiral, although that pessimismJR Research is an opportunistic investor. I was recognized by TipRanks as a Top Analyst, and also by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. I identify attractive risk/reward opportunities supported by robust price action to potentially generate alpha we ...

周三，英特尔(INTC.US)涨近9%，报47.85美元。消息面上，继苹果之后，英伟达计划将部分芯片制造 业务转向英特尔代工。供应链人士透露，英伟达预计在2028年推出的Feynman架构平台将与英特尔合 作，这是美国科技巨头在特朗普政府推动"美国制造"目标下调整供应链策略的最新案例。 据报道，供应链人士透露，英伟达将在与英特尔的合作中采用"量少、低阶、非核心"的合作策略。GPU 核心芯片仍由台积电代工，而I/O芯片则部分采用英特尔18A或预定2028年量产的14A制程，最后由英特 尔EMIB进行先进封装。按先进封装比重计算，英特尔最高约占25%，台积电约占75%。 ...

WSTS 预测 2026 年全球半导体市场规模有望同增 26.3% 达到 9750 亿美元， 高科技产业投资增长驱动洁净室行业市场扩容 ，维持行业"增持"评级。 (1)2025 年 12 月 2 日， 世界半导体贸易统计 组织 (WSTS) 发布全球半导体市场最新预测， 2025 年全球半导体市场规模有望同增 22.5% 至 7720 亿美 元， 2026 年将再增长 26.3% 达 9750 亿美元，存储和逻辑 IC 仍是主要成长动能，分别增长 39.4% 及 32.1% 。 (2) 洁净室是高科技产业发展必要的前 序投入， 高科技产业投资的增长驱动了洁净室行业市场的扩容 ，行业需求景气度逐步回升。由于洁净室工程下游行业投资规模大、工程实施周期短、容错率 低等特质，下游行业的中高端业主趋向选择项目经验丰富的洁净室工程服务企业，因而使得洁净室工程行业发展趋于集中化和规模化，企业梯队分化明显。技 术领先的企业在高端市场形成稳定份额，市场集中度逐步提升。 本订阅号所载内容仅面向国泰海通证券研究服务签约客户。因本资料暂时无法设置访问限制，根据《证 券期货投资者适当性管理办法》的要求，若您并非国泰海通证券研究服务签约 ...

本文是由投资/产品专员而非分析师撰写的文章汇编。 它不构成研究报告，也不应被解释为研究报告，也不旨在提供 专业、投资或任何其他类型的建议或推荐。 CSIWM 个股点评 台积电 本文内容由 Ryan Lee (李昊谦) 提供 中信证券财富管理(香港) 2330 TT 中国台湾科技行业 电话：(852) 2237 9250 / 电邮：wminvestmentsolutions@citics.com.hk 为长远发展承担风险 摘要 中信证券财富管理与中信里昂研究观点一致。根据中信里昂研究在 2026 年 1 月 28 日发布的题为《Risk it for the biscuit》的报告，分析指出，台积电在 2026 年 520-560 亿美元的资本支出指引令市场意外。在可能原因中，中信里 昂指出，在台积电的产能扩张中新厂建设比例高于此前预期，导致各制程节点的资本支出处于经验区间上沿。产能投 产周期较以往更长，这在高企的在建工程中有所体现，即使基础建设支出（土地与厂房）也在加速。因此，分析认为 未来两年供需平衡不会出现实质性变化。 2026 年资本支出为何超预期 60-100 亿美元？ 分析指出，单节点资本支出始终是 ...