券商中国·2026-02-04 23:23Core Viewpoint - The article discusses a significant sell-off in the U.S. technology sector, particularly affecting semiconductor stocks and AI-related companies, driven by disappointing earnings guidance from AMD and ongoing concerns about software valuations [2][4][5]. Group 1: Market Performance - The Nasdaq index experienced a drop of over 2% at one point, closing down 1.51%, while the S&P 500 fell by 0.51%, and the Dow Jones increased by 0.53% [4]. - Major tech stocks like Nvidia, Meta, and Tesla saw declines exceeding 3%, while Apple managed to rise over 2% [4]. - The Philadelphia Semiconductor Index fell by 4.36%, with AMD plummeting 17.3%, marking its largest closing drop since May 2017 [4]. Group 2: AMD's Earnings Guidance - AMD's first-quarter revenue guidance was set at approximately $9.8 billion, which, while above analyst consensus, did not meet some optimistic expectations of over $10 billion [4]. - Concerns arose regarding AMD's ability to compete in the AI chip market against Nvidia, contributing to the stock's sharp decline [4]. Group 3: Alphabet's Financial Results - Alphabet reported a fourth-quarter revenue of $113.8 billion, a year-over-year increase of 18%, with operating profit reaching $35.93 billion, up 16% [10]. - The company's cloud business saw a remarkable revenue increase of 48% to $17.7 billion, exceeding analyst expectations [11]. - Alphabet's capital expenditure for 2026 is projected to be between $175 billion and $185 billion, significantly higher than market expectations of $119.5 billion, indicating a strong commitment to AI investments [11].