证券研究报告 超威半导体(AMD) (AMD US) 客户集中度和订单节奏成焦点 华泰研究 年报点评 投资评级(维持): 买入 目标价(美元): 300.00 何翩翩 研究员 SAC No. S0570523020002 SFC No. ASI353 +(852) 3658 6000 易楚妍 联系人 yichuyan@htsc.com SAC No. S0570124070123 SFC No. BXH065 +(86) 21 2897 2228 韩冬冰* 联系人 SAC No. S0570125070150 handongbing@htsc.com +(86) 21 2897 2228 基本数据 | 收盘价 (美元 截至 2 月 3 日) | 242.11 | | --- | --- | | 市值 (美元百万) | 394,165 | | 6 个月平均日成交额 (美元百万) | 10,324 | | 52 周价格范围 (美元) | 76.48-267.08 | 股价走势图 经营预测指标与估值 | 会计年度 (美元) | 2025 | 2026E | 2027E | 2028E | | --- | --- | ...

Core Insights - The emergence of Agentic AI, particularly through tools like Anthropic's Claude Code, is causing significant shifts in the software and data center industries, leading to a notable sell-off in software stocks [1][2] Group 1: Impact of Agentic AI - Claude Code is predicted to account for over 20% of daily code commits on GitHub by year-end, a substantial increase from the current 4%, marking a pivotal moment in AI development [2] - The transition from manual coding to "vibecoding," where code is generated through natural language prompts, is expected to accelerate the deployment of AI agents that can operate independently [3] Group 2: Companies Benefiting from Agentic AI - Arm Holdings is positioned to benefit from the growth of Agentic AI, as it is known for licensing CPU instruction sets, which are becoming increasingly vital for handling workloads in this new AI landscape [5][6] - The demand for CPUs is anticipated to rise significantly due to their role as agents in orchestrating tasks, which could lead to increased revenue for Arm [6] Group 3: Financial Performance and Future Outlook - Arm's data center royalty revenue has more than doubled year-over-year, with expectations that its data center business will surpass mobile as the largest revenue category in the coming years [7] - Despite a guidance for slower revenue growth in the fiscal fourth quarter, the strong performance in the third quarter reassures investors about Arm's growth potential [7] - The company is also expected to benefit from increasing royalty rates as it introduces newer products like Armv9, enhancing its revenue streams [10]

Back to Market on Close. I'm Marley Caden alongside Sam Bodis in New York. We are seeing shares of ARM Holdings extending its post earning gains with the stock up about 17% on the week.The company topped estimates on the top and bottom line saw royalty revenue jump 27% and license and other revenue increased 25% yearover-year. I want to bring Sam back into the conversation and welcome our guest. Joining us today, the EVP and CFO of ARM Holding, Jason Child.Jason, thank you for taking the time on an exciting ...

Goldman Sachs is deploying autonomous artificial intelligence (AI) agents built with Anthropic’s Claude model to automate core accounting, compliance and operational finance functions, according to a Friday (Feb. 6) report from CNBC.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited ...

Technology stocks have endured a bloodbath of selling as investors have shunned last year's winners in favor of defense stocks, catching the attention of Wall Street veteran technical analyst Helene Meisler. The bludgeoning, which has cut the market cap of the biggest tech stocks on the planet -- the mag 7 -- by a combined $3 trillion, may be about done, says Meisler, whose career stretches back to Cowen & Company in 1982, where she was trained by the legendary technician Justin Mamis. Meisler isn't yet ...

NEW YORK--(BUSINESS WIRE)--UiPath acquires WorkFusion, strengthening its portfolio of agentic AI-powered industry solutions for financial services and banking. ...

Open Text (NasdaqGS:OTEX) Q2 2026 Earnings call February 05, 2026 05:00 PM ET Company ParticipantsGreg Secord - Head of Investor RelationsJames McGourlay - Interim CEOSteve Rai - EVP and CFOTom Jenkins - Executive Chair and Chief Strategy OfficerConference Call ParticipantsDavid Kwan - Research Analyst in TechnologyGeorge Kurosawa - Equity Research AnalystKarl Keirstead - Managing Director and Senior Equity Research AnalystPaul Treiber - Director and Senior Equity Research AnalystThanos Moschopoulos - Manag ...

Qualys (NasdaqGS:QLYS) Q4 2025 Earnings call February 05, 2026 05:00 PM ET Company ParticipantsBlair King - Senior VP of Investor RelationsJoe Vandrick - Equity Research Associate DirectorJonathan Ho - PartnerJoo Mi Kim - CFOJoshua Tilton - Senior VP of Equity ResearchKingsley Crane - Managing DirectorNehal Chokshi - Managing DirectorSumedh Thakar - President and CEOYun Kim - Managing DirectorConference Call ParticipantsJunaid Siddiqui - Investment AnalystMike Richardson - AnalystRahul Chopra - Equity Analy ...

Qualys (NasdaqGS:QLYS) Q4 2025 Earnings call February 05, 2026 05:00 PM ET Company ParticipantsBlair King - Senior VP of Investor RelationsJoe Vandrick - Equity Research Associate DirectorJonathan Ho - PartnerJoo Mi Kim - CFOJoshua Tilton - Senior VP of Equity ResearchKingsley Crane - Managing DirectorNehal Chokshi - Managing DirectorSumedh Thakar - President and CEOYun Kim - Managing DirectorConference Call ParticipantsJunaid Siddiqui - Investment AnalystMike Richardson - AnalystRahul Chopra - Equity Analy ...

Open Text (NasdaqGS:OTEX) Q2 2026 Earnings call February 05, 2026 05:00 PM ET Company ParticipantsGreg Secord - Head of Investor RelationsJames McGourlay - Interim CEOSteve Ray - EVP and CFOTom Jenkins - Executive Chair and Chief Strategy OfficerConference Call ParticipantsDavid Kwan - Research Analyst in TechnologyGeorge Kurosawa - Equity Research AnalystKarl Keirstead - Managing Director and Senior Equity Research AnalystPaul Treiber - Director and Senior Equity Research AnalystThanos Moschopoulos - Manag ...