光芯片景气度快速提升 20250508 国内企业在高端光芯片领域的发展情况如何？ 高端光芯片如 25G 以上、100G 几乎由日本和美国公司主导，占据接近 100% 的市场份额并享有极高毛利率。然而从今年（2025 年）开始，中国企业开始 突围这一盈利丰富赛道。一方面需求暴增带来工序不平衡机会；另一方面 AI 发 展加速技术迭代，使国内企业实现弯道超车。在性能突破后，相对于国外职业 经理人制，中国厂商反馈效率更高，因此受益更多。目前国内优秀企业如源杰 已量产 70 毫瓦光芯片，并实现百万颗以上出货，还完成了 100G Emal 客户验 证及 200G Emal 开发推出。此外，公司发布大订单预告显示国内公司已开始 摘要 • 海外 CSP 资本开支增加，对 2026 年需求预期乐观，关税影响减弱，投资 逻辑回归产业趋势判断，为光芯片行业带来积极信号，预计未来一两个月 内，对国内外 CSP 在 2026 年的需求预期将逐步清晰。 • 电信市场回暖，中国有望在 2026 年启动 50G PON 建设；数通市场受益 于 AI 训练需求爆发，单模 EML、多模 Amal 及 CW 光源市场空间巨大， 国内头部厂商在数通 ...

The market is a greedy machine with many objectives, one of which is to transfer money from impatient and short-sighted investors into the hands of the savvy and patient. In today’s uncertainty and volatility, born out of President Trump's recent trade tariff rollouts, there are new opportunities for savvy and patient investors to lock in great deals. Knowing that tariff fears will inevitably subside and that discounts can be had pretty much all over the marketplace today, investors can start to look into s ...

In a year of uncertainty for the economy, leading companies in artificial intelligence (AI) are standing out. Wall Street analysts recently made bullish calls on Broadcom (AVGO 3.17%) and ServiceNow (NOW 2.00%).One thing that stands out at first glance with these stocks is their expensive valuations. Both stocks trade at high multiples of their earnings and cash flow that could limit near-term upside. Let's see why these stocks may or may not justify their premiums.  1. BroadcomBroadcom supplies essential n ...

Group 1: Technology Sector Overview - The technology sector has historically produced rewarding growth stocks, with artificial intelligence (AI) expected to create further wealth-building opportunities for investors [1] Group 2: Nvidia - Nvidia's powerful graphics processing units (GPUs) are in high demand, with Wall Street's average price target 47% above its current share price of $111 [3] - Nvidia's revenue more than doubled to $130 billion last year, with 88% of sales coming from data centers; analysts expect revenue to exceed $200 billion this year due to demand for new data center chips [4] - The Blackwell computing system, designed for advanced AI workloads, is anticipated to drive significant growth, with billions in sales reported in its first quarter [5] - Despite some analysts expressing caution due to the cyclical nature of the chip industry and economic uncertainties, major customers like Microsoft and Google plan to continue heavy investments in data center infrastructure [7][9] Group 3: The Trade Desk - The Trade Desk, a leading digital ad-buying platform, has delivered a nearly 1,700% return since 2016, with an average price target 64% above its current share price of $53 [10] - The company reported a 26% year-over-year revenue increase, driven by a fee-based model that enhances profitability and cash flow [11] - Although the company experienced a revenue miss, it has a significant addressable market estimated at $1 trillion, with only $12 billion in ad spending on its platform last quarter [12] - The Trade Desk is investing in AI to improve its services, with expectations that all customers will use its Kokai AI platform by the end of 2025 [12] - Current estimates suggest revenue growth of 17% for 2025, with improving margins indicating potential for robust earnings growth [13] - The stock is currently priced at a fair 30 times this year's earnings projection, presenting a potential buying opportunity for long-term investors [14]

" 由于供应链紧张，服务器价格可能会上调。 " 作者丨包永刚 编辑丨王亚峰 消息公布之后，浪潮信息的股价下跌2.89%，市场反应相对平静。 "此次被列入清单的公司之前已经获取了可能被美国列入清单的消息，所以已经有所准备。"芯片行业资深 人士明宇表示，"大概半年前我就听到了浪潮可能要上实体名单的消息，这些公司已经做过准备。" 北京时间3月25日，美国商务部工业与安全局（BIS）将54家中国实体列入清单，其中12家实体是中国大 模型、高性能计算领域的企业，其余42家是量子技术等领域的企业、高校，正式的文档将于美东时间3月 28日发布。 值得注意的是，浪潮集团旗下六家子公司、宁畅信息产业、中科可控旗下的服务器品牌Suma都被列入清 单，包含： 截至发稿，浪潮信息和宁畅暂未对制裁发表官方声明。不过浪潮信息在今天上午紧急取消了原计划于3月 27-28日举行的面向客户和合作伙伴的"2025元脑大会"。 实际上，2023 年 3 月浪潮集团就被美国商务部列入实体清单。算力行业人士康明指出，"此次是进一步 将浪潮的香港及台湾实体列入清单，限制浪潮通过香港获取紧俏的AI芯片。" 服务器公司的瀚文表示，"上了实体清单的服务器公司 ...