2026-02-02 02:05Summary of Earnings Call Records Companies and Industries Involved - Meta: Technology and social media company - Microsoft: Technology company focusing on cloud services and AI - Corning: Technology company specializing in glass and ceramics, particularly in optical fibers - Silicon Photonics: Emerging technology in optical communication - Liquid Cooling: Technology related to cooling systems in data centers and electronics Key Points and Arguments Meta - Q4 2025 Revenue: Reported revenue of $59.893 billion, exceeding analyst expectations of $58.42 billion, representing a year-over-year growth of 24% [1] - Q1 2026 Revenue Guidance: Expected revenue between $53.5 billion and $56.5 billion, also above analyst expectations of $51.27 billion [1][1] Microsoft - Q2 FY2026 Revenue: Achieved revenue of $81.273 billion, a 17% year-over-year increase, driven by intelligent cloud services [2] - Intelligent Cloud Revenue: Revenue from the intelligent cloud segment grew by 26% to $51.5 billion, marking a significant milestone of surpassing $50 billion [2] - Capital Expenditure: Capital expenditure reached $37.5 billion, a 66% increase year-over-year, primarily invested in GPU and CPU technologies to meet AI and cloud demands [2][2] Corning - Q4 2025 Core Sales: Reported core sales of $4.41 billion, a 14% year-over-year increase, with core earnings per share of $0.72, up 26% [4] - Q1 2026 Guidance: Management anticipates a further acceleration in growth, with core sales expected to increase by approximately 15%, reaching between $4.2 billion and $4.3 billion [4] Investment Opportunities - Silicon Photonics: Recommended stocks include Zhongji Xuchuang, Xinyi Technology, and Yuanjie Technology [3] - Liquid Cooling: Recommended stock is Invec, recognized as a leader in the liquid cooling supply chain [2] - Optical Fiber: Recommended stocks include Hengtong Optic-Electric and Zhongtian Technology, with beneficiaries such as Changfei Optical Fiber and Yongding Co. [5] Additional Important Content - Capital Expenditure Trends: Meta's capital expenditure for Q4 2025 was $22.14 billion, with a total of $72.22 billion for the year, exceeding initial guidance of $60-65 billion [2] - Market Outlook: The overall sentiment in the technology sector remains optimistic, particularly in AI-driven applications and optical communication technologies, indicating potential growth and investment opportunities in these areas [1][2][4]