中金发表报告指，英伟达2026财年第四季业绩及首季指引均高于该行及市场预期，该行认为背后主要原 因是Agent带来的推理需求放量后机柜产品出货强劲所致。由于Agent等需求持续刺激云厂商投资算力基 础设施，以及在快速的硬件叠代下公司龙头地位不改，该行上调公司2027财年收入预测1%至3459亿美 元，上调Non-GAAP净利润预测3%至1966亿美元；首次引入2028财年收入预测4381亿美元，Non-GAAP 净利润预测2550亿美元。该行维持对英伟达的"跑赢行业"评级，目标价上调6%至240.6美元，认为公司 算力扩容趋势明确。 来源：滚动播报 ...

IT之家 2 月 27 日消息，英伟达今天在官方论坛宣布 DGX Spark AI 工作站涨价 700 美元（IT之家注：现汇率约合 4797 元人民币），目前的建议零售价是 4699 美元（现汇率约合 32199 元人民币）。 IT之家附英伟达官方声明如下： 变更详情： 发生了什么变化？ DGX Spark（Founders Edition）的建议零售价从 3999 美元（现汇率约合 27403 元人民币）上调至 4699 美元，原因是内存供应受限。 何时生效？ 是否影响基于 GB10 的 OEM 价格？ 此次调价仅适用于搭载 GB10 的英伟达 DGX Spark。其他厂商的定价问题需要向对应 OEM 咨询。 为何部分网站仍显示 3999 美元？ NVIDIA.com已经更新价格，其他渠道商可能需要更长时间同步调整。 是否伴随产品变更？ 本次调价不涉及任何硬件配置变动。 新价格已在本周正式实施。 为何调整价格？ 此次调价反映了行业范围内的内存短缺潮。DGX Spark 仍然提供领先的桌面级 AI 解决方案，并在同类 AI 基础设施解决方案中具备较高性价 比。 是否影响全球定价？ 新的建议零售价适用于所有地 ...

AMD stock may remain under pressure this year despite its robust growth.Shares of Advanced Micro Devices (AMD 3.45%) performed impressively over the past year, rising a healthy 95% as compared to the 65% gains clocked by the PHLX Semiconductor Sector index over this period.However, the semiconductor stock has been under pressure in 2026. AMD is underperforming the broader index, losing 5% of its value so far this year. The poor performance seems a tad surprising given that AMD delivered a solid set of resul ...

Asian ended mostly higher on Friday, even as Nvidia's strong earnings and guidance failed to dispel investor fears over the durability of an AI boom. The Japanese yen and U.S. Treasuries rose in Asian trade while gold held steady a tad below $5,200 an ounce. Oil prices edged up slightly after diplomatic efforts between the United States and Iran aimed at easing tensions over Tehran's nuclear program concluded on Thursday without an agreement. Following meetings in Switzerland, an Omani mediator involved in ...

Bloomberg Japan’s Rapidus Corp. secured investment totaling ¥267.6 billion ($1.7 billion) from the government and dozens of companies including Sony Group Corp., Toyota Motor Corp. and SoftBank Corp. in a sign of growing hopefulness around the long-shot chip venture. Rapidus, which aims to begin mass production of 2-nanometer chips by March 2028, is in talks with more than 60 companies eager to design chips for artificial intelligence, robotics and the growing need to field compute on devices, Chief Exec ...

南方财经2月27日电，据央视财经，有机构报告预计，今年由于存储芯片短缺，预计全球智能手机的出 货量约为11亿部，与去年的12.6亿部相比大幅下滑。分析指出，近期用于支持人工智能任务的高端存储 需求激增，已经消耗了全球大部分供应，而且这种供应紧张的状况预计将持续到2027年。由此，当下许 多智能手机厂商的商业模式受到了威胁。分析指出，存储芯片短缺对廉价手机的冲击更为严重，存储芯 片价格飙升将挤压本就利润微薄的安卓品牌。此外，机构预计存储芯片的价格还可能继续上涨。目前预 计今年第一季度，DRAM芯片的合约价格季度环比将上涨90%到95%，而NAND闪存环比将上涨55%到 60%。 ...

Group 1 - Kioxia Holdings Corporation has appointed Yoshihiko Kawamura as Chief Financial Officer (CFO), effective April 1, 2026 [1] - Mr. Kawamura has extensive international experience, including roles at Mitsubishi Corporation and the World Bank, and has held senior leadership positions at Hitachi, Ltd. [2] - Kioxia is entering a new phase of growth following its IPO on the Prime Market of the Tokyo Stock Exchange in December 2024, focusing on sustainable growth and financial improvement [3] Group 2 - The company aims to enhance corporate value and deliver on stakeholder expectations through strategic capital and financial planning under Mr. Kawamura's leadership [3] - Kioxia is a leader in memory solutions, specializing in the development, production, and sale of flash memory and solid-state drives (SSDs) [5] - The company was spun off from Toshiba Corporation in April 2017 and is known for its innovative 3D flash memory technology, BiCS FLASH™, which is used in various high-density applications [5]

Core Insights - Emerging-market stocks are experiencing their strongest earnings growth since the 2002-04 super-cycle, driven by a surge in artificial intelligence investment [1] - This growth contrasts sharply with the previous decade, where earnings estimates were typically revised lower [1][2] Earnings Growth and Concentration - Earnings estimates for the MSCI Emerging Markets Index have risen by an average of 6.5% for this year, primarily driven by three companies: Samsung Electronics, SK Hynix, and Taiwan Semiconductor Manufacturing [3] - The concentration of earnings upgrades in the semiconductor sector raises concerns about rising concentration risk within the asset class [2][7] Market Outlook - Morgan Stanley has raised its year-end target for the MSCI Emerging Markets Index to 1,700 from 1,400, indicating a potential 5% gain from the recent close [5] - The firm projects earnings per share for the index to reach $118 by December 2026, representing a 33% year-on-year increase, followed by $131 in December 2027, an 11% increase [5] Regional Performance - Despite the overall earnings upswing, China's reporting season remains muted, with weak domestic demand affecting major tech firms like Baidu, which has reported three consecutive quarterly revenue declines [6] - In contrast, India is showing early signs of recovery in corporate profits, indicating a divergence in performance among emerging markets [6]

2026 年 2 月 27 日 刘梦麟 SAC 执业证书编号： S0340521070002 电话：0769-22110619 邮箱： liumenglin@dgzq.com.cn 报 陈伟光 S0340520060001 电话：0769-22119430 邮箱： chenweiguang@dgzq.com.cn 资料来源：东莞证券研究所，iFind 究 超配（维持） 半导体行业双周报（2026/02/13-2026/02/26） 英伟达超预期财报彰显 AI 高景气 行 业 周 投资要点： 本报告的风险等级为中高风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 半导体行业 半导体行业指数近两周涨跌幅：截至2026年2月26日，申万半导体行业指 数近两周（2026/02/13-2026/02/26）累计上涨2.86%，跑赢沪深300指 数2.71个百分点；2026年以来申万半导体行业指数累计上涨17.18%，跑 赢沪深300指数15.09个百分点。 SAC 执业证书编号： 行业新闻与公司动态：（1）机构：涨价效应带动2025年第四季度 ...

南财智讯2月27日电，唯捷创芯发布2025年度业绩快报，报告期内公司实现营业收入23.21亿元，同比增 长10.36%；归属于上市公司股东的净利润4494.93万元，同比扭亏；基本每股收益0.10元，同比扭亏。 ...