Key Points A media report stated that the two companies have held discussions recently. These apparently concern a new partnership, an investment by Apple, or both. 10 stocks we like better than Intel › The hot trend in big tech now, it seems, is to plow vast amounts of capital into Intel (NASDAQ: INTC). Last month, the federal government invested a cool $8.9 billion to own roughly 10% of the chipmaker's equity. Closely following that, Asian tech conglomerate SoftBank bought into the company with ...

[Music] We're back on Morning Trade Live. Let's focus on Intel. The stock has rallied this month on the back of investments from Nvidia and the US government.And according to a Bloomberg report now, the company is looking to add another name to the investor list, Apple. More on that story momentarily, but here's the chart. Intel is up more than 50% here in 2025, and the majority of gains have been in the last 2 months.Intel shares are up nearly 70% since August the 1st. So that is the focus of the morning t ...

Intel Corp. has approached Apple Inc. about securing an investment in the ailing chipmaker, according to people familiar with the matter, part of efforts to bolster a business that’s now partially owned by the US government. Apple and Intel also have discussed how to work more closely together, said the people, who asked not to be identified because the deliberations are private. The talks have been early-stage and may not lead to an agreement, the people said. Most Read from Bloomberg Intel CEO Lip-Bu ...

Asian markets swung Friday at the end of a strong week for investors following the US interest rate cut, with attention now turning to a call between Donald Trump and Xi Jinping.While the Federal Reserve and boss Jerome Powell were not as forthright as hoped on future rate reductions the mood on trading floors remained upbeat.The US central bank lowered borrowing costs Wednesday for the first time since December after a series of reports pointed to a slowdown in the country's labour market, which offset stu ...

All right. Well, Intel is no longer a bum. As fact, Wall Street abandoned Intel.My next guest was the he was on this show August 8th. He told you to buy the stock. So, let's bring in Tiger's financial partner, CIO, and director of research, Ivan Feinste.And first of all, congratulations, my man. Really, really, I mean, first of all, tell the audience about what this deal is and you know, was it one of the reasons you were bullish on the stock. Well, I think Intel, you know, was going through a difficult tim ...

Nvidia’s CEO, Jensen Huang, talks during the keynote address of Nvidia GTC on 18 March 2025 in San Jose, California.Photograph: Nic Coury/AP Nvidia, the world’s leading chipmaker, has announced plans to invest $5bn in Intel and collaborate with the struggling semiconductor company on products. A month after the Trump administration confirmed it had taken a 10% stake in Intel – the latest extraordinary intervention by the White House in corporate America – Nvidia said it would team up with the firm to work ...

Nvidia, the world’s leading chipmaker, announced plans to invest $5bn in Intel and collaborate with the struggling semiconductor company on products.One month after the Trump administration confirmed it had taken a 10% stake in Intel – the latest extraordinary intervention by the White House in corporate America – Nvidia said it would team up with the firm to work on custom data centers that form the backbone of artificial intelligence (AI) infrastructure, as well as personal computer products.Shares in Int ...

A big headline crossing the Bloomberg terminal. A big headline. Quite the headline, John, for two companies that the US government has a vested interest in.In a statement we heard from the Nvidia CEO, Jensen Huang, who called this a historic collaboration. As part of the deal, Intel is going to use in video graphic technology in upcoming PC chips and in video will use some of Intel's processors in order to meet the demand from data centers. The idea here being that they're really going to work together when ...

公司：应用材料 (Applied Materials) 核心观点与论据 * 公司Q3业绩创纪录 营收和每股收益均达历史新高[4] * 公司对Q4的指引低于预期 主要受中国市场需求低于预期和先进逻辑节点设备提货率非线性的影响[5][6] * 公司预计其半导体设备业务今年将增长约4%[20] * 公司预计先进逻辑和DRAM将是未来五年以上增长最快的两大设备市场[10] * 公司预计将在先进逻辑和DRAM领域获得市场份额 以抵消在中国可能出现的份额损失[29] * 环绕栅极 (GAA) 节点设备市场规模巨大 预计将支持30万片/月的晶圆产能[39] * 公司2024年GAA相关设备销售额为25亿美元 预计2025年将达45亿美元 两年合计70亿美元[41] * 中国ICAPS市场（成熟逻辑/节点）在2023和2024年经历巨大建设后 预计2025年将放缓[4][18] * 公司在中国因实体清单限制无法服务的积压订单金额为4亿美元[25] * 全球服务（AGS）业务的核心部分（超过90%）预计将以低双位数增长 其中超过三分之二为订阅收入[61][62] * Q4毛利率指引为48.1% 被视为一个正常的基准水平[66] * 与两年前相比 Q3的高位48%毛利率改善了150个基点[66] 其他重要内容 * 先进逻辑节点的晶圆厂利用率达到100% 并且报告的设计数量高于前代节点[6] * 环绕栅极 (GAA) 晶体管比前代FinFET晶体管能效提升20%至30%[6][39] * 高性能计算系统（含GPU和HBM）对DRAM和先进逻辑产生巨大需求[7] * HBM DRAM目前约占DRAM产能的15% 并以30%至40%的复合年增长率增长[55] * 公司预计2024年DRAM业务对跨国公司而言增长接近50%[56] * 中国市场的建设重点正从40/45/60纳米等更成熟节点转向28纳米[45] * 公司看到全球ICAPS（中国以外）的利用率正在提升 并预计其未来将增长[50][51] * 200毫米设备市场正在萎缩 但某些化合物半导体技术仍需要它[62][63] 行业：半导体设备 (Semi Cap Equipment) 核心观点与论据 * 行业整体受到AI驱动 在DRAM和先进逻辑领域表现强劲 但面临中国成熟节点（ICAPS）市场需求减弱的逆风[17][18] * 不同设备商对前景的看法存在差异 原因包括各自在中国出货的时间窗口、对NAND的敞口以及服务中国客户的能力不同[10] * 晶圆制造设备 (WFE) 市场预计今年将实现增长[20] * 客户（包括成熟大客户）的订单承诺行为变得更晚 增加了供应链规划的波动性[22][23] * 地缘政治和贸易政策的不确定性是影响客户行为和投资计划的重要因素[22][26] * 第二梯队晶圆代工厂的竞争加剧 从整体市场需求角度看影响有限 但可能会影响整体产能利用率[31][33] * 中国本土的产能建设由地方激励政策驱动[46] * 全球ICAPS终端市场预计将以中高个位数速度增长[18][49] 其他重要内容 * 架构变革（如逻辑的GAA、背面供电、CFET；DRAM的6F2、4F2、3D DRAM）是客户重新评估设备供应商的关键时期[11] * 功率效率是推动所有设计向最先进节点迁移的主要动力[13][14] * 建设晶圆厂的前提是拥有明确的客户设计和量产承诺 而非盲目建设[34] * 中国在受限设备领域的技术发展 或全球规则环境的潜在变化 是未来行业格局的重大未知数[26][27][28][49] * 功率相关领域是ICAPS节点中创新的重点 例如化合物半导体和新材料[53]

核心观点 - 英伟达在人工智能浪潮中占据主导地位 但难以复制过去几年的超高增长 [1][2][11] - 公司仍具备增长潜力 但股价已反映极高预期 未来回报率可能放缓 [10][11] 市场地位 - 英伟达在AI数据中心处理器市场份额高达95% 是各大科技公司建设AI基础设施的首选供应商 [4] - 公司正拓展企业AI软件和自动驾驶汽车等新兴市场 以延长增长跑道 [6] 财务表现 - 过去两年营收分别增长126%和114% 2025财年营收达1310亿美元 [5][9] - 分析师预测2026年营收将增长54%至2500亿美元 2027年增速放缓至25% [9] 行业机遇 - 科技公司将持续投入AI基础设施建设 未来四年AI数据中心投资规模预计达2万亿美元 [5] - AI发展仍处于早期阶段 英伟达作为AI处理器领导者将持续受益 [6][11] 增长挑战 - 科技公司初期投资热潮将逐步消退 营收持续翻倍增长难以维持 [7][8] - 股价在过去三年上涨超过900% 已充分反映乐观预期 [1][10]