文 | 罗茜 当下的全球科技产业 ， 正处于 一个 深度重构 的关键时刻 ：一边是以存储器为代表的核 心元器件 ， 陷入近乎疯狂的价格暴涨周期；一边是科技巨头们 ， 不计成本地投身 关于 AI 的战略 豪赌 和军备竞赛 。 投身于 AI从云端训练向端侧推理 跃迁的浪潮之中，作为全球 AI生态链领先企业的联想集 团，已有了破局进化之道。 " 我们的估值会从 PC-only（仅依赖PC）的估值 ， 转换成一个基于多产品、多业务的估 值 " ， 郑孝明坦言，已向 AI及AI智能体 （ Agent） 跃迁的联想集团，目前股价被明显低 估，对标同业，最起码具备 16倍到17倍P/E（市盈率）的合理性，较现有估值 有 60%到 70%的 提升 空间 。 存储暴涨的 "马太效应" " 有史以来没有看到过这么快的，这是暴涨 "。郑孝明认为，存储芯片的价格 处于两周一 变的快速上行通道 ，这 将显著改变 PC 、手机 及服务器 的 行业格局， 大小厂商将进一 步分化。 具体而言， 作为头部品牌 的 联想 集团 ， 凭借持续的产品创新，不 仅有望进一步提升 PC市场份额，单机单价（ASP）的提升也将带动整体营收增长 。相比之下， ...

液冷市场需求快速提升：液冷市场表现亮眼，奇宏和双鸿在 1 月淡季仍 实现环比增长，得益于下游需求增加和液冷渗透率快速提升。维蒂财报 显示，其去年四季度订单同比增速达 252%，液冷环节未来仍将保持强 劲增长。 Cowas 产能持续扩张：台积电积极扩张 Cowas 产能，预计 26 年月产 能上调至 12~13 万片，即年产能 140~150 万片，高于之前预估的 120~130 万片。这验证了 AI 算力需求持续增长趋势，维持对计算机行 业推荐评级。 算力需求激增推动云厂商资本开支，台积电 CoWoS 产能扩张验证 AI 算 力需求，液冷市场受益于渗透率提升，台股供应链数据亮眼，云厂商营 收和积压订单增长强劲，维持对计算机行业推荐评级。 CSP2026 年 CapEx 超预期，服务器+液冷表现亮眼 20260212 2026-02-12 摘要 云厂商资本开支大幅增长：微软、Meta 和亚马逊的资本开支均显著增 加，主要用于服务器和数据中心建设，以支持 AI 发展。亚马逊 2026 年 资本开支指引高达 2000 亿美元，为四家最高，反映其对 AI 基础设施的 巨大投入。 五大 CSP 营收和净利润稳步增长：2 ...

Core Insights - Lenovo Group reported a strong performance in Q3 of the fiscal year 2025/26, with ISG infrastructure solutions revenue reaching 36.7 billion RMB, representing a year-on-year growth of over 31% [1] Business Performance - The AI server revenue showed impressive growth, maintaining a high double-digit growth rate, with a backlog of orders amounting to 15.5 billion USD, making it one of the core growth engines for ISG [1] - The Neptune liquid cooling technology business achieved a remarkable year-on-year growth of 300% [1] Segment Analysis - The cloud infrastructure (CSP) business continued to benefit from the expanding demand for AI training, sustaining a high level of prosperity [1] - The enterprise infrastructure (E/SMB) business not only saw revenue growth but also improved gross margins through pricing management optimization and operational efficiency enhancements [1] - In terms of regional performance, ISG's business in China made significant breakthroughs, with enterprise infrastructure becoming an important source of profit [1]

消息面上，美股液冷服务器龙头维谛技术在2025财年第四季度财报超预期以及强劲的业绩指引驱动下， 隔夜股价大涨24%，续创历史新高。 南方财经2月12日电，早盘液冷服务器概念盘初走强，川润股份、大元泵业涨停，依米康触及20cm涨 停，方盛股份、科创新源、英维克、申菱环境、淳中科技跟涨。 东海证券指出，通过全球供应链和相似的技术演进逻辑，数据中心发展带动对高效制冷方案的需求，也 有望为中国温控产业链企业带来机遇，如冷水机组等冷源装备提供商、制冷压缩机铸件制造商等，关注 冰轮环境、联德股份等。此外，在液冷方案的二次侧领域，关注具备全链条液冷方案储备的英维克等。 ...

液冷服务器板块盘初拉升，利通电子、科创新源盘中创新高，大元泵业、川润股份涨停，方盛股份涨超 10%，依米康、英维克、申菱环境、淳中科技跟涨。 ...

Super Micro Computer Inc. (NASDAQ:SMCI) is one of the under-the-radar AI stocks to buy. On February 4, Mizuho analyst Vijay Rakesh raised the firm’s price target on Super Micro to $33 from $31 while keeping a Neutral rating. Rakesh informed that the company reported strong results, though competition and margin pressure continue to be challenges. On the same day, Needham lowered the price target for Super Micro to $40 from $51 with a Buy rating. The firm attributed the company’s FQ2 2026 earnings beat to ...

Core Insights - Super Micro Computer (SMCI) has shown signs of a potential turnaround following strong fiscal Q2 earnings results, despite a 47% decline in stock price over the past six months [1][7] - The company reported a revenue increase of 123% year-over-year, reaching $12.68 billion, significantly surpassing analyst estimates [5][6] - Analysts are cautiously optimistic about the company's future performance, with guidance for Q3 revenue set at a minimum of $12.3 billion and an adjusted EPS of at least $0.60 [6][7] Financial Performance - Super Micro Computer's adjusted net income for Q2 was $486.5 million, a 26% increase year-over-year, exceeding consensus estimates of $330 million [6] - The gross margin decreased to 6.4% from 11.9% due to scale-up costs, but demand for AI servers contributed to revenue growth [6] - The full-year revenue outlook has been raised to $40 billion from a previous estimate of $36 billion [6] Market Position and Products - Super Micro Computer specializes in high-performance servers, storage, and networking gear optimized for AI, data centers, cloud computing, and 5G applications [2][3] - The company integrates top chips from major players like Nvidia, AMD, and Intel into its customizable, modular systems [2] - Supermicro supports large-scale AI training clusters and hyperscale clouds for major tech companies such as Microsoft and Meta [3] Analyst Sentiment - Analysts have noted a significant turnaround for Super Micro Computer, with some reaffirming their ratings and price targets reflecting potential upside [7][8] - Wedbush analyst Matt Bryson maintained a "Neutral" rating with a price target of $42, indicating a 37% upside from the current market price [8]

格隆汇2月5日丨中国长城(000066.SZ)在互动平台表示，公司可为相关行业提供系列AI服务器产品，覆 盖医疗、金融、互联网、云服务等领域，满足不同行业的AI应用需求。 ...

Super Micro Computer (SMCI) shares closed nearly 14% higher today after the artificial intelligence (AI) server firm said its revenue more than doubled on a year-over-year basis to $12.7 billion in its fiscal Q2. The Nasdaq-listed firm’s earnings per share (EPS) also came in miles ahead of Street estimates, suggesting its days of regulatory and governance issues may finally be behind it. More News from Barchart Following the post-earnings rally, SMCI stock is up roughly 17% versus its year-to-date low. ...

We're back on Morning Trade Live. Let's focus on Super Micro. The stock is moving higher this morning after earnings.But if you look at a three-year chart, today's move is just a drop in the bucket. This name traded as high as 122 bucks less than 2 years ago and has been one of the higher beta names in the tech space. Shares are still 50% off the last February's 52- week high.We are trading higher by 12% right now on this name. So that's the focus of the morning trade. for a closer look at this now is Marle ...