2 January 2026 Price Target Change Asia Semiconductors and Global Mamory Asia Semiconductors & Global Memory: 2026 is still all about AI Mark Li +852 2123 2645 mark.li@bernsteinsg.com Edward Hou, CFA +852 2123 2623 edward.hou@bernsteinsg.com Yipin Cai, CFA +852 2123 2669 yipin.cai@bernsteinsg.com 2026 is still about AI. Sufficient visibility shows that 2026 demand for AI accelerators (XPU) is so strong that many supplies (e.g. CoWoS, memory, logic wafer) struggle to keep up. But unfortunately 2026 marks the ...

每经编辑｜陈鹏程 胡玲 1 爱尔兰总理马丁将访华 外交部介绍有关安排 爱尔兰总理马丁将于2026年1月4日至8日对中国进行正式访问。外交部发言人就爱尔兰总理马丁将访华答记者问。外交部发言人表示，马丁总理此访是爱尔 兰总理时隔14年再次访华。访问期间，习近平主席将同他会见，李强总理、赵乐际委员长将分别同他会谈、会见，就双边关系和共同关心的问题深入交换意 见。除北京外，马丁总理还将访问上海。近年来，中爱互惠战略伙伴关系稳健发展。双方坚持相互尊重、平等相待，通过开放合作实现优势互补、共同发 展，成果惠及两国人民。中方愿以此访为契机，同爱方增进政治互信，拓展互利合作，为新时代双方实现高质量发展和中欧关系健康稳定前行增添新动能。 （央视新闻） 外交部发言人就美国对委内瑞拉实施军事打击答记者问 1月3日，外交部发言人就美国对委内瑞拉实施军事打击答记者问。外交部发言人表示，中方对美方悍然对一个主权国家使用武力并对一国总统动手深表震 惊，予以强烈谴责。美方的这种霸权行径，严重违反国际法，侵犯委内瑞拉主权，威胁拉美和加勒比地区和平与安全，中方坚决反对。我们敦促美方遵守国 际法及联合国宪章宗旨和原则，停止侵犯别国的主权安全。（央 ...

In today's rapidly changing and highly competitive business world, it is vital for investors and industry enthusiasts to carefully assess companies. In this article, we will perform a comprehensive industry comparison, evaluating Intel (NASDAQ:INTC) against its key competitors in the Semiconductors & Semiconductor Equipment industry. By analyzing important financial metrics, market position, and growth prospects, we aim to provide valuable insights for investors and shed light on company's performance withi ...

Core Insights - Predictions in the investment landscape, particularly regarding market targets, often miss the mark significantly, highlighting the unpredictability of short-term market movements [2][3] - The AI sector is still evolving, with current leaders potentially facing challenges from emerging competitors, emphasizing the need for humility in investment strategies [4][5] - Geopolitical events, such as tariff announcements, can create market volatility, and investors must learn to navigate uncertainty without relying on predictable patterns [6][8] Market Predictions and Analysis - DBS Group's target for Singapore's STI at 3,950 by the end of 2025 was significantly off, as the index closed around 4,570, illustrating the difficulty of short-term market predictions [2] - The mathematical nature of target prices can be influenced by emotional biases, leading to optimistic or pessimistic forecasts that may not materialize [3] AI Industry Developments - The AI race saw unexpected shifts, with companies like DeepSeek disrupting established leaders such as OpenAI and Microsoft, demonstrating the fluidity of the sector [4][5] - The rapid evolution of AI technologies serves as a reminder of the industry's infancy and the potential for multiple winners to emerge [5] Geopolitical Impact on Markets - The Trump administration's tariff policies created significant market volatility, with investors needing to adapt to unpredictable policy changes [6][7] - The emergence of trading patterns, such as the "TACO trade," reflects a collective mindset among traders that can diminish individual competitive advantages [8] Investment Strategies - The 2020s have experienced heightened market volatility, compressing nearly a decade's worth of fluctuations into a shorter timeframe, necessitating a focus on minimizing mistakes rather than speed [9] - Successful investing is not about perfect timing but aligning actions with personal financial goals and accepting uncontrollable market factors [11][12]

We recently published 10 Stocks Jim Cramer Discussed.  Micron Technology Inc. (NASDAQ:MU) is one of the stocks on Jim Cramer discussed. Memory chip manufacturer Micron Technology Inc. (NASDAQ:MU) has shaped up to be one of the most important firms on the stock market in today’s AI-driven era of investing. Its importance stems from the fact that it is the only American company capable of manufacturing the advanced memory chips that are used by NVIDIA in its latest AI GPUs. On December 18th, Deutsche Bank r ...

Core Insights - Investing in stocks is a preferred method for wealth building, providing both income and growth potential. Dividend stocks are essential for passive income investors, but selecting the right ones can be challenging due to the vast options available [1][2]. Company Summaries Coca-Cola - Coca-Cola (NYSE:KO) is a leading global beverage company with a diverse product portfolio, including soft drinks, teas, coffee, and juices. The company has successfully increased product prices while achieving higher revenue and sales [3][4]. - Coca-Cola is an asset-light business model focusing on syrup concentrate production, which allows for higher profit margins and lower operating costs, resulting in significant cash flow and shareholder rewards [4]. - The company has a strong dividend history, being a dividend aristocrat with 63 consecutive years of dividend increases, a yield of 2.90%, and an annual dividend of $2.04. The payout ratio stands at 67.85% [5]. - In Q3, Coca-Cola reported revenue of $12.5 billion, a 5% year-over-year increase, with organic revenue growth of 6%. Operating income surged by 59%, and EPS rose by 30% to $0.86. The company is expected to perform well in 2026 due to its global presence and steady dividend growth [6]. 3M Company - 3M (NYSE:MMM) is a global conglomerate with a diverse range of products in healthcare, industrial, safety, and consumer sectors. The company has recently seen a positive turnaround, with management raising full-year guidance [7][8]. - In Q3, 3M reported revenue of $6.50 billion, up 3.5%, and generated $1.3 billion in adjusted free cash flow. The safety and industrial segment grew by 5.4%, and EPS was reported at $1.55. The company is on a recovery path [8][9]. - The management anticipates full-year EPS between $7.95 and $8.05, with organic revenue expected to improve by over 2%. In Q3, 3M allocated $900 million for buybacks and dividends [9][10]. - The stock is currently priced at $161.76, reflecting a 24.72% increase in 2025, with a dividend yield of 1.81% and an annual dividend of $2.92. The payout ratio is 36.54% [10][11]. Morgan Stanley - Morgan Stanley (NYSE:MS) is one of the largest financial institutions in the U.S., known for its investment banking and wealth management services. It has a dividend yield of 2.31% and a history of 28 years of dividend payments [12][13]. - The company has seen a 38% stock price increase in 2025, currently trading at $172.96. It has a healthy investment banking pipeline and is positioned to benefit from increased M&A and IPO activities [12][13]. - In Q3, Morgan Stanley reported an 18% revenue increase to $18.22 billion, with profits soaring by 45% to $4.61 billion. The investment banking segment experienced a 44% growth, while equities trading revenue rose by 35% [14][15].

We recently published 9 Stocks Jim Cramer Talked About.  Micron Technology, Inc. (NASDAQ:MU) is one of the stocks on Jim Cramer talked about. Micron Technology, Inc. (NASDAQ:MU) is one of the most important firms in the AI ecosystem. It makes and sells memory chips that are used in NVIDIA’s and other AI GPUs. As a result, Micron Technology, Inc. (NASDAQ:MU)’s products form a link at the back end of the AI supply chain. The firm recently reported its fiscal first quarter earnings report and posted $13.64 b ...

Group 1: Zhongsheng Pharma - The core business of Zhongsheng Pharma has stabilized after experiencing centralized procurement, with innovative drug research and development gradually yielding results, particularly in respiratory and metabolic fields [2][4] - The company reported a revenue of 1.889 billion yuan for the first three quarters of 2025, a year-on-year decrease of 1.01%, while net profit attributable to shareholders increased by 68.40% to 251 million yuan [4] - The core products of traditional Chinese medicine have maintained stable growth post-collective procurement, with sales resilience supported by volume compensating for price reductions [4][5] - The innovative pipeline includes RAY1225 injection, a dual-target drug for weight loss and blood sugar reduction, which has shown positive results in clinical trials [5] Group 2: Medical Device Industry - The brain-computer interface (BCI) industry in China has achieved rapid development under policy support, with a focus on establishing a robust technological and industrial framework by 2027 [6][8] - The National Medical Products Administration held a meeting to discuss the advancement of BCI medical devices, emphasizing safety and effectiveness as primary considerations [17] - By 2030, the BCI industry aims to cultivate globally influential leading enterprises and a competitive industrial ecosystem, with significant advancements expected in technology and application [18]

Oracle logo highlighted in front a background representative of the AI industry. Key Points Oracle is transitioning from legacy software to become the essential utility provider for running powerful artificial intelligence chips. The acquisition of a stake in TikTok validates the sovereign cloud strategy by demonstrating that Oracle can meet the immense national security requirements. A massive backlog of signed contracts provides strong revenue visibility and supports the aggressive expansion of data ...

RAG技术渗透率快速提升，Gartner预测2025年企业采用率将达68%。向量数据库作为RAG核心组件， 支撑海量数据毫秒级检索，市场需求持续高增。 智通财经APP获悉，申万宏源发布研报称，AI Infra作为AI模型训练与推理的底层支撑，已成为应用落 地的关键 "卖铲人"。算力调度是决定模型推理盈利水平的核心变量，国内模型Token收费显著低于海 外，成本敏感度更高。据测算，在单日10亿查询量下，若使用H800芯片，单卡吞吐能力每提升10%， 毛利率能够提升2-7个百分点。生成式AI+Agent加速渗透，AI infra软件作为应用部署的基础设施，有望 进入高速增长期。看好高实时性、可灵活拓展的分布式交易型数据库厂商(OLTP)，以及增量的向量数 据库。 申万宏源主要观点如下： 算力调度是决定模型推理盈利水平的核心变量 国内模型Token收费显著低于海外，成本敏感度更高。阿里Aegaeon通过Token级调度可减少82% GPU用 量，华为Flex:ai提升30% 算力利用率，高效调度能力成为模型推理厂商盈利关键。根据申万宏源测算， 在单日10亿查询量下，若使用H800芯片，单卡吞吐能力每提升10%，毛利 ...