Core Insights - The technology sector is highly profitable, with many companies generating reliable recurring revenues through subscriptions and strong demand for products [1] Company Summaries Apple - Apple generated $167 billion in sales from its products and $53 billion from subscription services in the first half of the year [3] - The company produced $24 billion in operating cash flow in Q2 and returned $29 billion to shareholders through dividends and share repurchases [4] - Apple has over $132 billion in cash and equivalents, recently increasing its dividend by 4% and launching a $100 billion share repurchase program [4] Alphabet - Alphabet generated over $90 billion in revenue in Q1 from online advertising, subscriptions, and cloud services [5] - The company produced nearly $19 billion in free cash flow in Q1 and $75 billion over the last 12 months, returning $1.2 billion in dividends and repurchasing over $15 billion in stock [6] - Alphabet's cash and equivalents rose to nearly $134 billion, with a recent 5% dividend increase and a $70 billion share repurchase program [6] Microsoft - Microsoft reported over $70 billion in revenue in Q3 of fiscal 2025 from various services including Azure and AI [8] - The company generated nearly $94 billion in net cash from operations in the first nine months of fiscal 2025, returning about $18 billion in dividends and $14 billion in stock repurchases [9] - Microsoft ended the period with almost $80 billion in cash and equivalents, having increased its dividend by 10% and approved a $60 billion share repurchase program [9] Meta Platforms - Meta generated over $41 billion in advertising revenue in Q1, along with additional revenue from its apps and Reality Labs [10] - The company produced more than $10 billion in free cash flow and returned almost $15 billion to shareholders through stock repurchases and dividends [11] - Meta's cash balance stood at $70 billion, indicating strong financial health [11] Nvidia - Nvidia generated $44.1 billion in revenue in Q1, a 69% increase year-over-year, driven by a 73% surge in sales to data center customers [12] - The company produced over $27 billion in cash flow from operations, a 79% increase from the previous year, returning $14.3 billion to shareholders [13] - Nvidia's cash balance increased to $53.7 billion, with a 150% dividend hike last year and a $50 billion increase in its stock repurchase program [13] Industry Overview - Large technology companies are generating substantial recurring revenues from subscriptions and advertising, allowing them to return significant cash to shareholders through growing dividends and share repurchase programs [14]

What happenedSignal Advisors Wealth, LLC reported to the Securities and Exchange Commission that its position in Apple(AAPL -0.59%) increased by 29,843 shares, according to its July 9, 2025, SEC filing. The transaction was valued at $6.04 million, bringing the firm’s total Apple stake to 68,821 shares, worth $14.12 million as of July 10, 2025.What else to knowThe fund increased its Apple position, which now comprises 1.1% of its $1.28 billion in reportable U.S. equity assets as of Q2 2025. The top five hold ...

Company Overview - Tripadvisor is an online travel company operating through three segments: Brand Tripadvisor, Viator, and TheFork, connecting travelers with partners through content and marketplaces for various travel categories [1] - Tripadvisor.com is the largest travel guidance platform globally, with 300 million monthly unique visitors, over a billion reviews, and $900 million in revenue [4] - Viator is a rapidly growing booking platform for tours, expected to generate over $900 million in revenue this year [4] - TheFork is the largest online restaurant reservation marketplace in Europe, projected to generate over $200 million in revenue this year [4] Valuation and Market Position - Tripadvisor trades at a significant discount, around seven times EBITDA, compared to low to mid-teens for peers and higher historical multiples for itself [4] - The decline in Tripadvisor's core business revenue by 7.95% from 2023 to 2024 is a contributing factor to its current valuation [5] - Despite the decline, Viator and TheFork are growing, with Viator matching Tripadvisor's revenue and TheFork achieving high single-digit growth [5] Activist Involvement - Starboard Value has acquired a 9.01% stake in Tripadvisor and plans to engage with management regarding value creation opportunities [2][3][6] - Starboard's investment strategy may include maintaining the status quo if revenue growth resumes, focusing on operational efficiency, or exploring strategic sales of segments like TheFork [7] - TheFork could be valued at approximately $1 billion based on a five-times revenue multiple, representing about 40% of Tripadvisor's total enterprise value [7] Governance and Shareholder Sentiment - Tripadvisor's governance issues, including controlled ownership and weak shareholder protections, have historically impacted its valuation [5] - Recent shareholder discontent was evident at the annual meeting, with three directors receiving significant withhold votes, although a proxy fight is not anticipated [9] - Starboard's engagement may lead to improved board representation and a partnership approach rather than a confrontational stance [9]

完整早报音频，请点击标题下方小耳机收听 【 Manus "润了"？官网显示"地区不可用"，社交账号清空】 7 月 11 日消息，日前有消息称，通用 AI 智能体公司 Manus 对 旗下部分国内业务进行裁员，并将核心技术人员迁往新加坡总部，公司目前在中国区的员工总数为 120 人左右。对此， Manus 方面曾回应称：基于公司自身经营效率考量，我们决定对部分业务团队进行调整。公司将继续专注核心业务发展，提升整体运营 效率。 记者 发现，目前 Manus 官网首页显示为" Manus 在你所在的地区不可用"，而此前为" Manus 中文版本正在开发中"。 此外， Manus 官方微博和小红书账号的内容已清空。（新浪科技） 【 瑞幸最大股东或竞购星巴克中国股权】 近日多家媒体援引知情人士消息称，星巴克已收到数份针对其中国业务的收购提议， 大多数投资者均瞄准控股权；星巴克被指可能保留30%的股权，其余股权将由多家买家分摊，每家持有不到30%的股权。这意味 着星巴克大概率想要保持中国业务的主导权。 除了此前市场上传出的高瓴资本、国际知名私募基金凯雷、KKR之外，瑞幸咖啡的最大股东大钲资本这次也被指加入了竞购队 伍，成 ...

李铭俊、皮鑫／文 中国企业新一轮出海潮正如火如荼。2024年，德勤发布的《中国企业全球化新纪元白皮书》显示，仅德勤一家公司，2024年便助力超过2000家中资企业在全 球96个国家出海并实现国际化发展，这折射出中国企业全面开启出海征程的深度与广度。 出海机遇与挑战并存，从技术壁垒到文化鸿沟，从供应链重构到合规性迷宫，能力建设正成为决定企业成败的关键因素。企业要以长期主义的战略定力，用 好既有优势、追求高阶目标、打造全局能力。 既有优势 当前阶段，中国企业在科技创新、规模制造与供应链组织上具有较强优势，制胜的关键在于将这些优势发挥到极致，转化为在国际市场上的核心竞争力。 首先是科技创新能力。 目前，中国企业在新能源、人工智能等新兴领域的技术实力已经跻身全球第一梯队，这是产业出海的关键法宝。比亚迪的刀片电池技术凭借卓越的安全性和 能量密度，成为全球新能源汽车电池市场的标杆；大疆的无人机飞控系统以其精准的操控性能，占据全球消费级无人机市场的大半江山；字节跳动的推荐算 法能够精准捕捉用户兴趣，使TikTok在全球社交媒体市场独树一帜。 除了单点技术领先，技术应用的范围，即用户生态和应用场景的广度，是筑牢科技创新能力优 ...

【导读】美股三大股指本周均录得跌幅；黄金、银、石油齐上涨；马斯克辟谣xAI在寻求融资 美东时间7月11日周五，美国三大股指小幅收跌，三大股指本周均录得跌幅。特朗普称对加拿大征收35%关税，并威胁对全球其他国家征 收更高关税，市场避险情绪升温。 黄金、银、原油上涨。现货黄金上涨近1%至3354.75美元/盎司；现货白银 涨3.8%，报38.406美元/盎司，本周累涨 4 % ；WTI原油上 涨超3%。 有报道称马斯克的xAI在下一轮融资中寻求的估值高达2000亿美元，马斯克在社交媒体平台进行了辟谣。 三大股指本周均录得跌幅 截至收盘，道指跌0.63%，报44371.51点，标普500指数跌0.33%，报6259.75点，纳指跌0.22%，报20585.53点。本周，道指跌 1.02%，标普500指数跌0.31%，纳指跌0.08%。 | 美股指数 它 | | | | | | --- | --- | --- | --- | --- | | 道琼斯 | | 纳斯达克 | 标普500 | | | 44371.51 | | 20585.53 | 6259.75 | | | -279.13 | -0.63% | -45.1 ...

华见早安之声 请各位听众升级为见闻最新版APP，以便成功收听以下音频。 市场概述 特朗普"对等关税2.0"开战，美股三大指数齐跌、未再创新高，本周均收低，科技七巨头则表现韧性。泛欧股指周五跌超1%。 关税引发通胀担忧，美债遭到抛售，10年期美债收益率涨近6个基点。 美元指数震荡于97关口上方，本周反弹累计涨1%、脱离三年来的低点。比特币强势不减，一度涨近5%。 黄金三连涨、盘中涨逾1.3%。白银一度涨近3.6%，创下近14年高点。原油涨2.7%，市场猜测特朗普计划制裁俄罗斯原油。 亚洲时段，AH股冲高回落，沪指微涨，多只权重股尾盘竞价遭抛盘，券商爆发，恒指涨0.5%，老铺黄金跌超11%，商品、国债分化。 要闻 特朗普50%铜关税范围或扩至半成品，美国电网、数据中心建设可能面临冲击。 美国政府6月意外实现财政盈余，本财年关税收入首次超过1000亿美元。 美联储鸽派高官古尔斯比：新的关税威胁可能会推迟降息。 特朗普政府预算主管加大对鲍威尔批评，誓言调查美联储翻修项目。 特朗普：对普京很"失望"，下周一将发布有关俄罗斯的"重大声明"。 华尔街首家：高盛正式"雇佣"AI写代码，从开发到部署，几乎无需人类介入。 市场收 ...

1、 财政部印发《关于引导保险资金长期稳健投资 进一步加强国有商业保险公司长周期考核的通知》，推动保险资金全面建立三年以上长周期考核机制， 新考核指标自2025年度绩效评价起开始实施。 长周期考核机制落地，有助于提高保险资金投资积极性、稳定性，并逐步提高投资A股的比例，增厚长期收 益，改善资本市场投资者结构，增强市场内在稳定性。 2、 外交部长王毅在吉隆坡会见美国国务卿鲁比奥。 双方就中美关系以及共同关心的问题交换了意见。 双方一致认为会晤是积极、务实、建设性的，同 意加强外交渠道及各领域各层级沟通对话， 发挥外交部门在推动两国关系中的作用，在管控分歧的同时，探索扩大合作领域。 1、 国务院副总理丁薛祥出席2025上合组织数字经济论坛开幕式并发表主旨讲话。 丁薛祥提出，全面提升数字基础设施互联互通水平，持续加强网 络通信、算力调度、数据处理等能力建设， 高质量共建"数字丝绸之路"，打造覆盖更广、运行更稳、响应更快的区域数字基础设施体系。论坛上， 中国、哈萨克斯坦、巴基斯坦、埃及等国家共签署12个数字经济合作项目，涉及跨境电商、智慧城市等领域。 2、国家信息中心数据显示， 二季度我国消费、投资、工业生产、企业经 ...

至于iPhone 17e外观与iPhone 16e类似，内部升级为A19处理器，与iPhone 17系列保持一致，预期2026年 初发布。值得注意的是，iPhone 16e是今年2月推出，17e是明年初发布，预期苹果计划对入门款手机， 採取每年一次更新的节奏。 苹果原计划在今年底推出搭载M5芯片的14英寸与16英寸MacBook Pro，内部时程已调整为2026年初。目 前预期这次推出的M5 MacBook Pro，将是自2021年启用现有设计以来最后一版。换言之，下一代机型 将采用全新机壳设计，并转向OLED屏幕。至于MacBook Air新机也预期2026年上半年问世。 古尔曼说，苹果原计划在2025年底发布搭载M5芯片的MacBook Pro系列，但内部时间表已调整到2026年 上半年。苹果正努力改善过去两年需求不振的情况，例如iPad系列的产品更新脚步放缓，导致业绩表现 疲软。 至于苹果今年秋季将推出的新产品，他表示，包括机身更轻薄的iPhone 17系列、重新设计的iPhone 17 Pro机型、新一代入门与高阶Apple Watch、升级版的iPad Pro，以及效能提升的Vision Pro头戴 ...

Let's first start off with exactly what is the sort of complexion of this line up and why are they taking that particular approach. Yeah. I mean, thank you so much for having me.So Apple typically launches a bunch of new products in the fall, and that's going to happen again this year with some twists. So we'll get the usual new iPhone, the 17 line, the usual new Apple watches, but they'll be a couple of other bells and whistles that they usually don't do this time of year. One is an upgraded version of the ...