Core Viewpoint - STMicroelectronics NV has seen a significant increase in its stock price due to its expanded strategic engagement with Amazon Web Services, aimed at enhancing high-performance computing infrastructure for cloud and AI data centers [1] Company Summary - STMicroelectronics NV's shares rose sharply in pre-market trading [1] - The company is focusing on enabling new high-performance compute infrastructure [1] - The strategic engagement with Amazon Web Services is specifically targeted at cloud and AI data centers [1]

Core Insights - Amazon.com, Inc. (AMZN) experienced a drop of over 10% following its 4Q FY2025 earnings report, but managed to recover some losses the next day as dip buyers entered the market [1]. Group 1: Earnings Performance - The earnings report for 4Q FY2025 indicated a significant decline in stock price, reflecting market reactions to the results [1]. - AWS (Amazon Web Services) revenue demonstrated further growth acceleration, suggesting a positive trend in this segment despite the overall stock decline [1].

Market Trends - The selloff in major tech stocks has paused, leading to aggressive buying in different sectors, particularly smaller companies [1][10] - The S&P 500 rose by 1.78% and the Nasdaq 100 by nearly 2%, while the Russell 2000 index surged by 3.5% [1][10] - Investors are shifting focus from megacap technology stocks to industrial, healthcare, and smallcap companies, indicating a broadening market rally [2][10] Investment Strategies - Investors are reassessing risk and moving away from crowded trades, leading to increased interest in dividend growth and equal-weighted indexes [5][10] - Defensive stocks are gaining traction, reflecting a shift away from speculative assets [7][10] - Money is quietly moving into economically sensitive sectors such as energy, materials, staples, and industrials, which have shown double-digit gains year-to-date [8][10] Concerns and Volatility - There are doubts regarding the profitability of AI hyperscalers like Amazon, Microsoft, and Alphabet, particularly concerning their capital spending plans [6][10] - The iShares Expanded Technology Software ETF rebounded by 3.5% but ended the week down 9.1%, indicating ongoing volatility and uncertainty in tech stocks [6][10] - The market is experiencing significant intraday volatility as investors seek stability amid shifting sentiments [6][10]

If you had to pick a soundtrack for Spotify shares in 2026, a Baroque lament or a mopey darkwave number might work best, considering their 27% drop. As the music and podcast streaming giant prepares to report its fourth-quarter and full-year 2025 earnings tomorrow, its vaunted pricing power and the business potential of new offerings will face the music. More optimistic analysts are keeping the faith that it will be a mix heavy on sunshine pop. SUBSCRIBE:  Receive more of our free The Daily Upside newsle ...

Core Viewpoint - Artificial intelligence (AI) is identified as a leading market theme with significant investment opportunities, particularly in hardware and cloud computing sectors Group 1: AI Hardware Companies - AI hardware is considered the best investment area, with companies like Nvidia, Broadcom, and Taiwan Semiconductor Manufacturing poised for growth [4][8] - Nvidia's graphics processing units (GPUs) are essential for AI workflows, known for their high performance despite being costly [5][6] - Broadcom is gaining popularity with its application-specific integrated circuits (ASICs), which are designed for efficiency in processing specific workloads, and expects AI semiconductor revenue to double by Q1 2026 [7][8] - Taiwan Semiconductor acts as a crucial fabrication facility for companies like Nvidia and Broadcom, benefiting from increased AI spending projected to rise to $3 trillion to $4 trillion annually by 2030 [8][9] Group 2: Cloud Computing Providers - Cloud computing is vital for AI infrastructure, allowing developers to rent computing power from providers like Amazon, Alphabet, and Microsoft [11] - Amazon Web Services (AWS) is the first mover in the cloud space but has the slowest growth rates due to its size, while Google Cloud is growing faster but still working on profitability [12] - Microsoft Azure is the fastest-growing cloud service with a 39% growth rate in Q2 FY 2026, although some capacity is used internally rather than rented out [13][14] - All three cloud providers are investing heavily in data centers to meet growing demand, creating a continuous revenue stream through rental agreements, which will enhance profitability in the long term [15]

>> THIS IS THE ASIA TRADE. I AM SHERY AHN IN TOKYO. >> I AM AVRIL HONG IN SINGAPORE. YOUR TOP STORIES THIS HOUR. ASIAN STOCKS SET FOR A POSITIVE START TO THE WEEK AFTER WALL STREET'S BEST DAY SINCE MAY. INVESTORS IN THIS REGION ALSO ASSESSING ELECTION VICTORIES TO RULING PARTIES IN JAPAN AND THAILAND. THE YEN IN FOCUS WITH JAPAN'S LBP SECURING A SUPER MAJORITY, SETTING THE STAGE FOR FURTHER FISCAL STIMULUS FROM PRIME MINISTERS. WE WILL GET REACTION ON THE BUSINESS AND POLITICAL IMPACT. THE ASIA GROUP AND A ...

2026年2月9日 CMB国际全球市场 | 股权研究 | 公司更新 亚马逊（AMZN US） 成长故事不变，AWS收入增长加速，超出预期。 亚马逊宣布（2月6日北京时间）2025年第四季度业绩：收入为2134亿美元，同比增长1 4%，按固定汇率计算同比增长12%（2024年第四季度：按固定汇率计算增长11%）， 比我们的预测/摩根大通一致预期高出1%。在此期间，总运营利润为250亿美元，同比 增长18%，比我们的预测/摩根大通一致预期高出2%-1%。剔除总额为24亿美元的三项 一次性特殊费用，运营利润将比预期高出10%。2025年第四季度AWS收入同比增长加 速至23.6%（2025年第三季度：20.2%；2024年第四季度：18.9%），比预期高出2个 百分点，受供应限制放宽（但仍存在）的推动。对于2025年，总收入同比增长12%至7 169亿美元，运营利润同比增长17%至800亿美元。管理层预计2026年第一季度预期收 入为1735-1785亿美元（预期：1755亿美元），意味着同比增长11%-15%。同时，管 理层预计运营利润为165-215亿美元（预期：222亿美元），2026年预期资本支出为20 0 ...

Investment Rating - The report assigns a positive investment rating to Amazon, indicating strong growth potential in the upcoming quarters [2][3]. Core Insights - Amazon's FY2025Q4 revenue reached $213.4 billion, a 12% year-over-year increase, with operating profit at $25 billion. The company reported a free cash flow of $11.2 billion over the past 12 months, and operating cash flow for the year increased to $139.5 billion, reflecting a 20% growth [3][8]. - The North America segment generated $127.1 billion in revenue, up 10% year-over-year, while the AWS segment saw a revenue increase of 24%, reaching $35.6 billion, marking the fastest growth in 13 quarters [4][11]. - Strategic focuses include advancements in artificial intelligence with proprietary chips, and the successful launch of the Amazon Leo satellite internet service, which aims to enhance connectivity and service offerings [5][10]. Revenue Breakdown - **North America Segment**: Revenue of $127.1 billion, operating profit of $11.5 billion, and a profit margin of 9%. The growth was driven by an increase in essential goods demand and improved delivery efficiency [4][9]. - **International Segment**: Revenue of $50.7 billion, with an operating profit of $1 billion and a profit margin of 2.1%. The company implemented competitive pricing strategies and expanded its physical store investments [4][10]. - **AWS Segment**: Revenue of $35.6 billion, with an operating profit of $12.5 billion and a profit margin of 35%. The growth was attributed to cloud migration and increased demand for AI services [4][11]. - **Advertising and Other Segments**: Revenue reached $21.3 billion, a 22% increase year-over-year, driven by the growth of AI shopping assistant Rufus and record viewership for live events [4][12]. Performance Guidance - For FY2026Q1, Amazon expects revenue between $173.5 billion and $178.5 billion, with operating profit projected between $16.5 billion and $21.5 billion. The company anticipates a favorable impact from currency exchange rates [4][13].

2026 年 2 月 08 日│美国 互联网 亚马逊 4Q 业绩：收入同增 13.6%至 2134 亿美元，超 VA 一致预期 1%（下 同）。北美、国际、AWS 营收分别同增 10%、17%、24%，对应经营利润 率同比+1/-1/-1.9pct。4Q 经营利润剔除非经常损益后 274 亿美元（超预期 4%），净利润同增 6%至 212 亿美元。4Q 资本开支达到 385 亿美元，超预 期 12%。尽管 4Q 云增速和行业差距扩大（对比谷歌云、微软智能云 +48/29%yoy），我们认为应更多关注中长期催化：①Anthropic 已开始使用 Rainier 进行模型训练，叠加近期 AWS EC2 上调价格，强劲需求有望支撑 AWS 在 26 年加速增长；②亚马逊正与 OpenAI 洽谈至多 500 亿美元的潜 在投资，后续有望引入 OpenAI 定制化模型至其 AI 产品（例如智能语音助 手 Alexa）；③Agentic 购物渗透有望加速，公司亦计划引入更多三方智能 助手；近期 Cowork 及集成 Gemini 的 Chrome 已对用户渗透形成推动。维 持"增持"评级。 26 年 Capex 指引同比 ...

Core Viewpoint - Amazon's significant investment in AI and cloud infrastructure is met with investor concerns about spending and potential overcapacity, yet the company's leadership reassures that demand for AWS services remains strong across both AI and non-AI projects [1][2][10]. Group 1: Amazon's AI Strategy - Amazon is not only a leader in e-commerce but also in cloud computing through Amazon Web Services (AWS), which has seen growth driven by AI demand [5][6]. - AWS provides a range of AI solutions, including in-house developed chips and access to Nvidia's high-end chips, along with services like Amazon Bedrock for adapting large language models [6][7]. Group 2: Financial Performance - AWS reported a $142 billion annual revenue run rate, with a 24% revenue increase, marking the strongest growth rate in 13 quarters [7]. - Amazon's market capitalization stands at $2.2 trillion, with a current stock price of $210.32, reflecting a recent decline of 5.55% [9]. Group 3: Leadership Insights - CEO Andy Jassy emphasized that customers are increasingly choosing AWS for both core and AI workloads, indicating resilience in demand even if AI growth slows [9][10]. - Jassy also noted that Amazon is monetizing new capacity immediately, which suggests that the company is not solely reliant on AI demand and is effectively managing its investments [11].