另外，首席财务官Mike Dunne重点提及数据中心业务的拓展，称公司旗下佛罗里达电力照明公司(FPL) 已获批数据中心电价方案，并拥有三处潜在数据中心选址，将成为重要增长动力。此外，公司也在输电 项目上持续发力，预计到2032年相关管制资本将以20%的年复合增长率增长。 智通财经APP获悉，高盛发表研报指出，新纪元能源(NEE.US)管理层近日上调了公司盈利增长预期，并 预计数据中心、可再生能源合作等新业务有望为其打开长期增长空间，基于上述积极信号，高盛维持这 家美国能源巨头"买入"评级，12个月目标价94美元。 高盛在最新发布的研究报告中表示，新纪元能源管理层在近期一场活动上更新了业绩指引，预计到2032 年，每股收益(EPS)年均增长率将超过8%。这一增长预期主要得益于电气化及大型负荷需求趋势的支 撑。公司还透露，在其77-108吉瓦的资源开发管道中，可能存在600亿至900亿美元的增量资本开支机 会，相当于当前计划的20%-30%。若这些投入落地，将进一步推动EPS增长。 Dunne还强调，公司凭借其规模优势(去年雇佣约14万名建筑工人)缓解了供应链与劳动力压力;在可再生 能源方面，公司表示其项目互联 ...

周四，美光科技(MU.US)盘前大涨逾14%，报257.90美元。财报显示，美光科技第一财季调整后营收 136.4亿美元，同比增长57%，高于分析师预期的129.5亿美元。按GAAP口径计算，净利润从去年的20 亿美元跃升至52亿美元。云储存方面，公司第一财季营收为52.84亿美元，上一季度为45.43亿美元，去 年同期为26.48亿美元。 此外，公司数据中心业务第一财季营收为23.79亿美元，上一季度为15.77亿美元，去年同期为22.92亿美 元。业绩指引方面，公司预计第二财季营收为187亿美元，上下浮动4亿美元，远超分析师预期的143.8 亿美元。 ...

当地时间周四 ， 美光科技暴涨，截至发稿涨幅扩大至16%。 消息面上，美光科技本周三公布了2026财年第一财季业绩，其营收与调整后每股收益均超出市场预期， 并对当前财季给出了强劲的指引。 具体来看，美光科技第一财季调整后营收为136.4亿美元，同比增长57%，高于分析师预期的129.5亿美 元；经调整净利润为54.82亿美元，同比增长58%；调整后每股收益为4.78美元，高于分析师预期的 3.95美元。 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 吴清最新发声 丨 603288，拟每10股派3元！ 丨 稀土，大消息！商务部回应！ 丨 这一板块，爆 发！多股涨停 丨 昨夜，美股大跌，科技股跳水！美联储，最新发声！ 丨 突发！阿里创投减持！ 丨 突然大涨！史上最大IPO，新动向！ 丨 分数首发！2025证券时报最佳分析师结果重磅发布 丨 市场 监管 ...

智通财经APP获悉，周四，美光科技(MU.US)盘前大涨逾14%，报257.90美元。财报显示，美光科技第 一财季调整后营收136.4亿美元，同比增长57%，高于分析师预期的129.5亿美元。按GAAP口径计算， 净利润从去年的20亿美元跃升至52亿美元。云储存方面，公司第一财季营收为52.84亿美元，上一季度 为45.43亿美元，去年同期为26.48亿美元。 此外，公司数据中心业务第一财季营收为23.79亿美元，上一季度为15.77亿美元，去年同期为22.92亿美 元。业绩指引方面，公司预计第二财季营收为187亿美元，上下浮动4亿美元，远超分析师预期的143.8 亿美元。 ...

东方证券研报指出，杰瑞股份第二个数据中心订单落地，抬升增长确定性，并有望带来增量业务。公司 再次获得北美数据中心订单，我们认为其业务增长的确定性继续提升、本次订单后续有望带来额外的增 量业务，我们继续看好公司在电力板块的发展。由于第二次订单提升了公司的确定性和未来增长空间， 认为将有望带来估值继续提升机会。由于公司燃机业务进展顺利，我们在可比公司中添加燃机相关公司 以反映新业务比重的增加。维持盈利预测，给与2025-2027年归母净利润分别为31.53、38.18、44.64亿 元，参考可比公司估值，给予公司26年19xPE，对应目标价70.9元，维持"买入"评级。 ...

Group 1 - The core viewpoint is that the consumer electronics sector remains stable, and short-term industry disruptions will not alter the upward trend of the company [1] - Concerns about rising storage prices affecting end consumers and overall profitability in the supply chain are mitigated by long-term agreements with major clients and suppliers [1] - The company's ODM shipment volume is expected to continue growing due to increasing industry penetration and market share among leading ODM manufacturers [1] Group 2 - The company leads in the domestic PC ODM market, with laptop shipments expected to exceed 18 million units in 2025, contributing to over 30% revenue growth in the first three quarters of 2025 [2] - The company anticipates continued high growth in laptop shipments, with significant contributions expected from North American clients starting in 2026 [2] - The company aims to further enhance its global laptop ODM market share and narrow the gap with Taiwanese manufacturers [2] Group 3 - The data center business is projected to maintain high growth, with expected revenue exceeding 40 billion in 2025, despite geopolitical uncertainties [3] - The company has achieved significant growth in AI servers and general servers, alongside a strong accumulation of cross-platform system R&D capabilities [3] - Future revenue growth in the data center segment is anticipated, with an optimized product structure and steady improvement in profitability [3]

Investment Rating - The investment rating for the company is "Buy (Maintain)" with a target price of 107.73 CNY [7][12]. Core Insights - The company's financial stability is supported by diverse business segments driving growth, with a significant increase in revenue projections for PC and data center businesses [3][11]. - The forecasted net profit attributable to the parent company for 2025-2027 is 41 billion, 52 billion, and 63 billion CNY respectively, reflecting an upward revision from previous estimates [3][12]. - The company is expected to maintain growth in its ODM (Original Design Manufacturer) business, particularly in the smartphone and PC sectors, with a notable increase in shipments and revenue [11][12]. Financial Summary - Revenue projections for 2023A to 2027E are as follows: 85,338 million CNY, 109,878 million CNY, 158,374 million CNY, 194,316 million CNY, and 233,809 million CNY, with growth rates of -7.9%, 28.8%, 44.1%, 22.7%, and 20.3% respectively [5][14]. - The operating profit is projected to grow from 2,831 million CNY in 2023A to 6,978 million CNY in 2027E, with corresponding growth rates of 1.0%, 6.7%, 49.7%, 28.0%, and 20.5% [5][14]. - The net profit attributable to the parent company is expected to increase from 2,707 million CNY in 2023A to 6,280 million CNY in 2027E, with growth rates of 5.6%, 8.1%, 39.2%, 28.0%, and 20.5% [5][14]. Business Performance - The company has a strong foothold in the consumer electronics sector, with a solid base that is expected to withstand short-term industry fluctuations [11]. - The PC ODM business is projected to see significant growth, with an expected revenue of over 300 billion CNY in 2025 and a shipment target of 1.8 million units [11]. - The data center business is anticipated to achieve over 40 billion CNY in revenue for 2025, with continued growth expected in AI servers and general servers [11].

纳斯达克综合指数昨日下跌0.8%，呈现相似走势。亚太股市隔夜亦跟随下挫，日本日经225指数重挫逾3.0%，中日地缘政治紧张局势为市场增添新的不确定 性。截至发稿时，欧美股指期货同样呈现下跌态势。 标普500指数周一延续回调走势，下跌近1.0%，收盘跌破50日均线6707点，创今年5月以来首次。尽管出现若干看跌技术信号，但自历史高点回落幅度仅约 6.0%，回调幅度有限，长期趋势仍保持完整。 鉴于美联储对就业市场的担忧，周四延迟发布的9月就业报告将为投资者提供判断美联储政策前景的关键线索。市场目前仅预期12月会议降息10个基点（概 率40%），且到2026年底累计降息幅度为85个基点。 TradeMax前瞻：英国通胀与英伟达时刻 今日经济日历一级数据有限。但周三将迎来关键时刻：英国10月CPI通胀数据即将发布，而本周焦点无疑集中在英伟达(NVDA)第三季度财报上。 除非英国数据出现显著上行惊喜，且鉴于英国GDP数据疲软，我预计英国央行行长安德鲁·贝利下月将转变立场，投票支持将基准利率从4.00%下调25个基点 至3.75%。 英伟达财报风险高企，高估值与人工智能支出前景成市场焦点。分析师预计其调整后每股收益为1. ...

Core Viewpoint - The global AI computing power investment is expected to drive high growth in the optical communication sector's net profit attributable to the parent company in Q4 2025 and 2026 [1] Group 1: Optical Communication Sector - The optical communication sector is anticipated to continue high growth in net profit due to increased investment in AI computing power [1] - Demand for hollow-core optical fibers, submarine cables, and DCI (Data Center Interconnect) is noteworthy [1] Group 2: Telecommunications Operators - The telecommunications operator sector is expected to maintain steady growth [1] - The development of AI applications is bringing new growth momentum to cloud computing and data center businesses for telecom operators [1] Group 3: ICT Equipment and IDC - The ICT equipment and IDC sectors are likely to benefit from the capital expenditure growth of internet giants [1] Group 4: Copper Connection Sector - The copper connection sector is set to realize growth as production capacity is released [1] Group 5: Market Trends - The optical module market is expected to maintain high prosperity due to ongoing investments in domestic and international computing infrastructure [1] - As of October 28, the communication ETF (515880) has a 52% allocation to optical modules and a 22% allocation to servers, with optical fibers and copper connections combined exceeding 81% [1]

美银认为"AI泡沫论"对芯片股是真利好，因为市场的普遍怀疑情绪能防止赛道过度拥挤，有助于市场冷静，确保更健康的持久回报。英伟达估值仅24倍 市盈率却保持50%营收增长，股价未反映真实增长潜力，存在显著低估。 对于近期的"AI泡沫论"，美银提出了鲜明的逆向观点：对芯片股是"反向利好"，有助于防止过度拥挤。英伟达存在显著低估，因为股价没有反映真实的 增长潜力。 该行认为，近期AI芯片股的波动主要源于可修正的宏观因素，而非AI支出周期的基本面恶化。事实上，从AI配套产业的强劲表现及英伟达的乐观展望来 看，底层需求依旧坚实。 美银称，对OpenAI宏大计划的质疑更是以偏概全，忽略了真正驱动AI投资的是大型科技巨头的防御性战略。尤其值得关注的是，作为行业龙头的英伟 达，其当前股价并未反映其真实的增长潜力，存在显著的低估。 AI怀疑论：一个健康的"逆向积极"信号 尽管上周大型AI半导体股票平均下跌了7-8%，但美银认为，这并非AI支出周期出现问题的信号。相反，股价波动更多是由宏观因素驱动，例如对美国 政府停摆的担忧、疲软的就业数据、关税动荡以及对OpenAI评论的误读。这些都是可修正的短期噪音，而非基本面利空。 真正的基 ...