Since launching six years ago, Tom’s Watch Bar has grown to 18 locations by catering to fans on their way into or out of stadiums—with dozens more on the way. Welcome to the best seat not in the house.With its technologically supercharged ordering system and some speedy servers, Tom’s Watch Bar can get food to your table less than eight minutes after the ticket is rung up—and can bring you a beer in under two.The sports bar chain’s expansion only seems that fast.Since launching with four locations in 2019, ...

The Fed has lowered its benchmark interest rate and two more rate cuts may follow before year-end. gettyStock prices had mixed results in trading Wednesday as investors digested the Fed’s decision to lower interest rates by 0.25 percentage points. It was the first rate reduction of 2025. The large-cap S&P 500 index fell less than 0.1% while the technology-focused Nasdaq Composite fell 0.6%. The Dow Jones Industrial Average, focused on blue-chip stocks, rose 0.5%. The market had anticipated the quarter-point ...

American Airlines Boeing 787 Dreamliner aircraft seen flying, landing and taxiing at Athens International Airport ATH after arriving from Philadelphia, USA PHL airport, a transatlantic long haul flight with the no AA758 . (Photo by Nicolas Economou/NurPhoto via Getty Images)NurPhoto via Getty ImagesAmerican Airlines (NASDAQ: AAL) stock has decreased by 27% this year. Despite the decline in fuel costs, investors were unsettled by the company’s sharp reset of its forecast, which includes an anticipated loss f ...

FORT STOCKTON, TEXAS - MARCH 24: The sun sets behind a pumpjack during a gusty night on March 24, 2024 in Fort Stockton, Texas. Employment in Texas has reached record highs, with the oil- and gas-producing Permian Basin, which covers a large swathe of west Texas, leading the way. Permian Basin towns of Midland and Odessa notched 2.6 and 3.5 percent unemployment respectively, according to the report touted earlier this month by Gov. Gregg Abbott. (Photo by Brandon Bell/Getty Images)Getty ImagesFor the past t ...

Starbucks Coffee in Warsaw, Poland on September 16th, 2025. (Photo by Beata Zawrzel/NurPhoto via Getty Images)NurPhoto via Getty ImagesStarbucks stock (NASDAQ: SBUX) has already decreased by approximately 15% over the last year—but the pivotal question for investors is whether the decline has only just started. Historical data indicates that it could be a possibility. In previous downturns, Starbucks has routinely suffered more significant losses than the overall market: during the 2021–23 inflation shock, ...

股价表现 - 公司股价在一周内上涨6% 主要受新一代Spectacles智能眼镜和Snap OS 2.0系统发布推动 [2] - 尽管近期反弹 但年内累计跌幅仍达30% 主要受财务表现不佳影响 [3] - 当前股价为7.74美元 较2021年9月83.11美元的历史高点下跌90.7% 恢复程度有限 [11] 财务表现 - 过去3年收入年均增长7.7% 最近12个月收入从50亿美元增长13%至56亿美元 [10] - 最近季度收入同比增长8.7% 从12亿美元增至13亿美元 [10] - 经营亏损6.54亿美元 经营利润率为-11.6% 净亏损5.46亿美元 净利率为-9.7% [10] - 经营现金流为5.87亿美元 现金流利润率为10.4% [10] 估值水平 - 当前市值130亿美元 债务42亿美元 债务权益比为32.3% [5][10] - 现金及等价物29亿美元 占总资产74亿美元的39.1% [10] - 估值被认为偏高 尽管运营和财务表现一般 [4][6] 业务构成 - 公司主要提供相机应用 包含消息传递、Snap地图、Stories和Spotlight等功能 [5] - 同时开发Spectacles智能眼镜 可从人类视角捕捉照片和视频 [5] 抗风险能力 - 在经济下行期间表现弱于大盘 2022年通胀冲击中跌幅达90.7% 而标普500仅下跌25.4% [7][11] - 2020年疫情期间股价从19.25美元跌至8.37美元 跌幅56.5% 但同年6月完全恢复至危机前水平 [11]

ToplineMeta showed off a new pair of AI-powered smart glasses with a built-in see-through display at the company’s Meta Connect keynote on Wednesday night, with the company’s CEO Mark Zuckerberg claiming that the device would serve as the ideal platform for “personal superintelligence.”Meta CEO Mark Zuckerberg speaks as he presents the new Meta Ray-Ban Display at the 2025 Meta Connect conference in Menlo Park, California.AFP via Getty ImagesKey FactsMeta’s share price rose more than 1% in premarket trading ...

股价表现与估值 - 美光科技股价在2025年从约87美元上涨至近157美元，涨幅约80%，创下历史新高[2] - 公司股票估值约为2025年预期收益的20倍[2] - 基于营收增长和利润率提升的假设，通过市盈率模型测算，公司市值可能达到约3400亿美元，股价有接近翻倍至300美元的潜力[8] 高带宽内存需求驱动 - 生成式人工智能的快速普及推动了对高性能高带宽内存的需求[3] - 人工智能模型从纯文本向视频和语音等多模态格式发展，增加了对内存的需求强度[4] - 美光是英伟达Blackwell GB200平台和AMD Instinct MI350系列GPU的主要HBM供应商[3] - 单个AI系统的内存需求正在上升，例如英伟达最新的Blackwell系统每个节点的内存比前代芯片多33%[3] - 亚马逊、Alphabet、微软和Meta表示，在当前财年可能共同投资3640亿美元用于资本支出，显示了AI基础设施投资的巨大规模[4] 高带宽内存供应与市场地位 - HBM的生产比标准DRAM更复杂，供应仍然受限[5] - 由于位密度较低和复杂的3D堆叠，生产相同数量的比特，HBM所需的晶圆数量约为标准DRAM的三倍，这形成了天然的供应瓶颈[5] - 美光2025年的HBM产量已售罄，预计2026年需求依然强劲[5] - 公司目标是在2025年底将HBM市场份额提升至约20%至25%[5] - 除HBM外，美光仍是数据中心低功耗DRAM的唯一批量生产商，这使其在AI工作负载日益注重效率的背景下具备优势[5] 财务业绩与展望 - 公司营收从2023年的210亿美元增长58%至2024年的340亿美元[6] - 市场共识预测营收将从2024财年的大约251亿美元增至2025财年的371亿美元，并在2026财年增长约31%至487亿美元[6] - HBM是增长的关键因素，其年化收入达到60亿美元，预计到2026年将实现100亿美元的年化收入[6][7] - HBM产量的增加对传统DRAM供应造成压力，导致DRAM价格上涨，这可能也提升了非HBM产品的收入[7] - 如果假设2026财年至2028财年期间年增长率为25%，到2028财年营收可能达到约770亿美元[8] - 公司今年前九个月的净利润率约为20%，由于高利润率HBM芯片占比提升和规模经济改善，该比率可能进一步增长[8] 竞争格局与市场动态 - SK海力士继续主导HBM市场，份额约50%，并在HBM4生产方面具有优势[9] - 美光正在增加HBM3E产量并测试HBM4，但仍在努力追赶，HBM4预计将用于英伟达即将推出的Rubin AI加速器架构[9] - 内存市场历史上具有显著的周期性，DRAM和NAND易受供需波动和价格变动影响[10] - 目前HBM作为一个部分长期增长驱动力，其高利润率和高订单可见性提供了一定程度的保护，但HBM目前占总收入不到20%，公司未能完全隔绝于传统市场周期[10]

Photographer: Chris Ratcliffe/Bloomberg© 2025 Bloomberg Finance LPRetailer Next led the FTSE 100 lower on Thursday, as it warned tough economic conditions in the UK would substantially dampen local sales during the second half.At £112.80 per share, Next’s share price was last 6% lower.In its first-half trading update, the clothing and homeware retailer said total revenues rose to £3.2 billion in the six months to July, up 10.3% year on year. Sales of full-price items rose 10.9% from a year earlier.This swep ...

MarcumAsia Co-Chair Drew Bernstein, left, attended the Asia Go IPO Summit in Hong Kong last week.Marcum Asia Though the Nasdaq is headquartered New York and many of its best-known companies such as Nvidia and Microsoft are based in the U.S., overseas listings by Asian companies account for about half of its IPOs these days. Tougher listing rules proposed by the Nasdaq this month for smaller companies – particularly from China -- would improve protection for investors yet have a “dramatic” impact leads busi ...