任天堂的股价崩了！ 消息面上，任天堂公布了一份令人失望的财报。数据显示，受美国对Switch 2游戏机加征关税以及内存芯片价格飙升的双重打 击，任天堂2025年第四季度的利润增幅大幅低于市场预期。当前，外界愈发担忧2026年内存芯片价格飙升，将对该公司的利 润率带来冲击。 任天堂股价暴跌 周三，任天堂股价低开低走，盘中跌幅一度超过12%，最低下探至每股8806日元。截至收盘，公司股价跌幅仍接近11%，单日 市值蒸发1.44万亿日元，折合人民币约640亿元。 今日（2月4日），在日本股票市场上，知名电子游戏公司任天堂的股价放量暴跌，盘中跌幅一度超过12%，创18个月来最大单 日跌幅，截至收盘，股价仍大跌近11%。 最新披露的财报显示，2025年第四季度，任天堂的营收为8063亿日元，同比增长86%，低于市场预期的8477亿日元；营业利润 为1552亿日元，同比增长23.1%，低于市场普遍预期的1807亿日元；净利润为1599亿日元，同比增长24.43%。 目前，这家总部位于日本京都市的游戏巨头不仅面临美国关税政策引发的全球供应链扰动，还因人工智能硬件领域疯狂投入 所导致的零部件成本飙升，而对未来前景倍感压力。 ...

2026年1月29日，苹果发布2026财年第一季度财报，截至2025年12月27日，该季度总营收达1437.56亿美 元，同比增长16%；净利润420.97亿美元，同比增长16%，多项核心指标创下历史新高。 库克提到，受iPhone17系列需求超出预期的影响，该财季末苹果库存紧张，目前正全力追赶供应以匹配 市场需求，但受SoC生产所用先进节点供应受限影响，暂时难以预测供需何时能达到平衡。 针对当前内存芯片价格上涨的情况，库克表示2025年第四季度内存涨价对苹果毛利率影响极小，但预计 2026财年第二季度影响将有所扩大，苹果将考虑一系列选项缓解成本冲击，包括供应链优化与产品定价 策略调整等。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 作者：观察君 大中华区成为本季度表现最亮眼的区域，当期营收达255.26亿美元，同比增长38%，增速远超美洲、欧 洲、日本等区域的增速。苹果CEO蒂姆·库克表示，大中华区的增长远超预期，且由产品驱动，该区域 iPhone升级用户数量创下历史新高，从其他品牌转投苹果的用户数量实现两位数增长。 iPhone17系列的热销是大中华区增长的 ...

当地时间1月29日，苹果公司发布2026财年第一季度(截至2025年12月27日)财报，多项核心财务指标创下历史新高。 苹果CEO库克表示，苹果本季度取得创纪录的卓越业绩，营收达1438亿美元，同比增长16%，远超预期。iPhone业务凭借前所未有的市场需求创下历史最佳 季度表现，全球所有地区市场均刷新纪录;服务业务收入同样创历史新高，同比增长14%。 不过，在财报电话会上，库克预计内存涨价将影响第二财季利润率。 | | Three Months Ended | | | | --- | --- | --- | --- | | | December 27, | December 28, | | | | 2025 | 2024 | | | Net sales: | | | | | Products | ക 113,743 $ | | 97,960 | | Services | 30,013 | | 26,340 | | Total net sales (1) | 143,756 | | 124,300 | | Cost of sales: | | | | | Products | 67,478 | | 59,44 ...

Core Viewpoint - Xiaomi Group has rapidly declined from being a market favorite to one of the worst-performing tech stocks in China, facing challenges in the smartphone and electric vehicle markets, with upcoming earnings expected to show the slowest revenue growth of 2023, raising market concerns [1] Group 1: Financial Performance and Market Sentiment - Xiaomi is set to announce its earnings on November 18, which are anticipated to reflect the slowest revenue growth since the beginning of 2023, potentially intensifying market skepticism [1] - The stock price has dropped nearly 30% from its recent high in September, underperforming in the Hang Seng Tech Index [1] - The average target price for Xiaomi's stock has been reduced by over 8% since August, ranking third in decline among Hang Seng Tech Index constituents [3] Group 2: Challenges in Key Markets - Rising memory chip prices are expected to squeeze Xiaomi's smartphone profit margins, while weak consumer demand in China and strong sales of Apple's iPhone 17 complicate Xiaomi's pricing strategy [1] - The electric vehicle sector is facing challenges as local government subsidies for trade-in programs are being phased out, impacting the overall automotive market [2] - Concerns about electric vehicle delivery volumes and associated revenues are growing due to insufficient production capacity [1][2] Group 3: Investment Outlook - Despite the stock's decline, it is now more accessible for investors, with a projected price-to-earnings ratio of 19, which is half of its peak earlier this year [2] - Domestic investors have been actively buying the stock, with net purchases through the Hong Kong Stock Connect for 13 consecutive trading days as of November 14 [3]

Core Insights - The Redmi K90 series was officially launched, but the 12G+512G version saw a price drop of 300 yuan from 3199 yuan to 2899 yuan just one day after its release, which is an unusual move in the smartphone market [1][3] - The price reduction was attributed to consumer dissatisfaction regarding the price differences between versions, particularly for the 12G+512G model, which has the highest demand [1][3] - The increase in memory prices due to foreign manufacturers' control has impacted the pricing strategy, leading to the decision to lower the price to improve brand perception [3][4] Pricing Strategy - The initial pricing of the K90 series, particularly the 12G+256G model starting at 2599 yuan, was considered inappropriate, as the 12G+512G version's price increase of 600 yuan for an additional 256G of storage was seen as excessive [3] - The price adjustment to 2899 yuan for the 12G+512G version is viewed as a more reasonable price point rather than a significant discount [3] Market Context - The smartphone market is currently experiencing price fluctuations due to various factors, including the upcoming Double 11, Double 12, and New Year sales, which are typical periods for price reductions [7] - Industry insiders have indicated that memory prices are expected to rise further next year, which may lead to higher prices for new models [4] - Consumers who purchased the 12G+512G version before the price drop are eligible for a price protection policy, allowing them to receive a refund for the price difference [4]