Super Micro披露600亿美元新订单和15%-17%毛利率预期，美股AI服务器链大涨但亚太映射缺少可追edge

# 美股盘后催化 4/11: Super Micro披露600亿美元新订单和15%-17%毛利率预期，AI服务器需求和定价改善被重估

- 美股会话: 2026-07-22
- 方向: POSITIVE；类型: 订单/客户；规划重大性: 9/10
- 映射模式: supply_chain
- 美股驱动（规划器初判，需独立核验）: 事实：SMCI预披露第四财季营收接近指引低端，但毛利率预计15%-17%，显著高于此前区间；多源称新订单超过600亿美元、积压订单创纪录，带动SMCI收涨19.84%、DELL收涨9.32%。推断：美股上涨来自毛利修复和AI服务器订单可见度，而非当季收入上修；对AI服务器、GPU、内存、电源、连接器和散热链正面，但订单口径、现金流、取消风险和治理风险仍需核实。

## 本催化相关美股真实收盘行情

- 英伟达 (NVDA.US): 212.06 +2.30%
- AMD (AMD.US): 552.33 +1.45%
- Super Micro (SMCI.US): 30.56 +19.84%
- Dell (DELL.US): 441.8 +9.32%
- HPE (HPE.US): 48.13 +3.02%
- Vertiv (VRT.US): 301.16 -1.10%

## 亚太映射假设（仅候选，必须查证）

- 广达 (2382.TW) [TW/竞争替代/mixed]: SMCI订单验证AI服务器需求，但也可能代表部分客户份额向SMCI集中。；核验问题: 核实SMCI订单客户与广达主要AI客户是否重叠，以及是否抢占份额。
- 纬颖 (6669.TW) [TW/竞争替代/mixed]: 云端AI服务器需求强对板块正面，但SMCI毛利修复的产品组合和客户结构需对比。；核验问题: 比较SMCI、纬颖、广达、鸿海在同类客户中的份额和毛利变化。
- 健策 (3653.TW) [TW/供应商/positive]: 高功率AI服务器出货增加可能拉动散热与结构件需求。；核验问题: 核实其在SMCI或美系AI服务器平台中的实际供货份额。
- SK海力士 (000660.KS) [KR/供应商/positive]: AI服务器放量和组件瓶颈可能继续拉动HBM/DRAM需求。；核验问题: 核实SMCI订单所需内存规格、交付节奏和供应商分配。

## 必答问题

- 600亿美元是不可取消订单、积压订单还是采购意向？
- 毛利率改善来自产品mix、供应紧缺、成本改善还是一次性项目？
- 收入接近指引低端是否反映组件瓶颈或客户交付延后？

## 原始证据全文（8 条）

### [E0035] 华尔街见闻快讯 | 2026-07-22 13:31 UTC | 盘中
美股盘初：存储芯片股、光通信股普跌，超微电脑涨约13%，GE Vernova跌约5%
URL: https://wallstreetcn.com/livenews/3138243
纳指跌0.5%，道指跌0.1%，标普500指数跌0.2%。 存储芯片股普跌，SK海力士跌约5%，闪迪跌约4%，美光科技跌约2%，西部数据跌约2%，希捷科技跌约1%。 光通信股普跌，迈威尔科技跌约2%，Coherent跌约2%，Credo跌约1%，Lumentum跌约1%，康宁跌约2%。 GE Vernova跌约5%，公司公布二季度财报。 超微电脑涨约12%，公司预计第四财季营收接近指引区间110亿-125亿美元的底部；预计第四财季毛利润率15%-17%，公司原本预计8.2%-8.4%。

美股盘初：存储芯片股、光通信股普跌，超微电脑涨约13%，GE Vernova跌约5%

### [E0040] 新浪财经7x24 | 2026-07-22 13:31 UTC | 盘中
超微电脑股价大涨15.1%，此前该公司公布第四季度新接订单规模达600亿美元。
URL: https://wap.cj.sina.cn/pc/7x24/5002608
超微电脑股价大涨15.1%，此前该公司公布第四季度新接订单规模达600亿美元。

### [E0058] 新浪财经7x24 | 2026-07-22 13:32 UTC | 盘中
【美股盘初：存储芯片股、光通信股普跌，超微电脑涨约13%，GE Vernova跌约5%】纳指跌0.5%，道指跌0.1%，标普500指数跌0.2%。存储芯片股普跌，SK海力士跌约5%，闪迪跌约4%，美光科技跌约2%，西部数据跌约2%，希捷科技...
URL: https://wap.cj.sina.cn/pc/7x24/5002611
【美股盘初：存储芯片股、光通信股普跌，超微电脑涨约13%，GE Vernova跌约5%】纳指跌0.5%，道指跌0.1%，标普500指数跌0.2%。存储芯片股普跌，SK海力士跌约5%，闪迪跌约4%，美光科技跌约2%，西部数据跌约2%，希捷科技跌约1%。光通信股普跌，迈威尔科技跌约2%，Coherent跌约2%，Credo跌约1%，Lumentum跌约1%，康宁跌约2%。超微电脑涨约12%，公司预计第四财季营收接近指引区间110亿-125亿美元的底部；预计第四财季毛利润率15%-17%，公司原本预计8.2%-8.4%。

### [E1186] Investing.com | 2026-07-22 15:42 UTC | 盘中
SMCI’s record $60B order book and what it means for Nvidia
URL: https://www.investing.com/news/stock-market-news/smcis-record-60b-order-book-and-what-it-means-for-nvidia-93CH-4806551
Wall Street mixed as investors eye tech earnings for AI cues, led by Alphabet
Investing.com -- Super Micro Computer Inc’s Q4 preliminary results sent its shares up over 20%, but the real shocker is the near doubling of gross margin guidance—an AI-fueled turnaround that could ripple straight to NVIDIA Corporation. Why? Because Super Micro’s record $60B in new orders signals unrelenting demand for AI infrastructure, a sector where NVIDIA’s chips are the gold standard.
AI Demand Chain Reaction
Super Micro Computer Inc’s Q4 revenue landed at the low end of guidance ($11.0B–$12.5B), but gross margins jumped to 15–17%—almost double the historical norm. The true headline: a record $60B in new orders, nearly triple its annual revenue, driven by AI infrastructure demand. While not every order is guaranteed (management flagged potential cancellations), this backlog is a real-time readout of hyperscale AI buildout appetite, where NVIDIA Corporation is the essential supplier.
- NVIDIA Corporation’s chips are the backbone of Super Micro’s high-density AI servers.
- Super Micro’s blowout order book suggests NVIDIA’s downstream demand remains robust, even as global AI competition heats up.
Risk and Reward—The Fine Print
But there’s a twist: Super Micro Computer Inc faces several headwinds—an ongoing DOJ indictment of a co-founder, a planned $7B capital raise (42% of market cap), negative levered free cash flow, and a debt/equity ratio of 80.3%. For NVIDIA Corporation, the key risk is not demand, but regulatory: recent news highlights tighter U.S. export controls and compliance headaches in Asia, plus a French antitrust probe nearing conclusion (Read more, 07/13/2026; Read more, 07/09/2026).
Margin Surge: Who Benefits Most?
Let’s compare the numbers:
| Company | Gross Margin | Revenue Growth (Q/Q) | 1Y Price Return | Analyst Target Upside | Take |
|---|---|---|---|---|---|
| Super Micro Computer Inc | 11.1% (FY25), 15–17% (Q4 guide) | 122.7% | -48.9% | -24.6% | Margin rebound, but volatility risk |
| NVIDIA Corporation | 71.1% | 85.2% | 24.3% | 30.8% | AI kingpin, demand tailwind |
Super Micro’s margin leap is impressive, but NVIDIA’s gross margins are in a league of their own—suggesting NVIDIA captures more value per AI dollar spent.
The Bottom Line
- Super Micro’s preliminary results are a bullish signal for NVIDIA’s AI chip demand—stronger orders at the server level mean more chips needed.
- The margin expansion at Super Micro hints at easing supply chain costs and possible pricing power, both of which are positive for NVIDIA’s own margins and revenue.
- Risks remain: Super Micro’s governance and capital structure issues could disrupt orders, and NVIDIA faces regulatory and competitive threats, especially in Asia.
What to Watch Next
- Super Micro’s August 11 earnings call: Will those new orders convert to real revenue?
- NVIDIA’s August 26 earnings: Look for commentary on AI server demand and margin trends.
- Ongoing regulatory headlines—especially export controls and antitrust probes.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

### [E1392] 华尔街日报 | 2026-07-22 16:23 UTC | 盘中
Tech, Media & Telecom Roundup: Market Talk
URL: https://www.wsj.com/business/tech-media-telecom-roundup-market-talk-f15cdb30
The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1145 ET – Super Micro Computer’s recent business update—in which it sharply raised its gross margin outlook for the quarter—provides a much-need reprieve, given recent headlines regarding export circumvention to China in May, and the more recent announcement of the detention of four employees related to an investigation in early July by Taiwanese authorities, Raymond James analysts say in a research note. The analysts are encouraged by the company’s recent momentum, but they opt to leave their estimates unchanged until they hear more. “We suspect supply constraints around memory and other components will remain bottlenecks in the immediate term, and the timing around revenue recognition remains uncertain.” (connor.hart@wsj.com)

1137 ET – Wedbush analysts didn’t expect Super Micro Computer to sharply increase its gross margin outlook late Tuesday. That being said, they postulate that the raise stemmed in part from a supply-demand imbalance. “Super Micro likely was able to take advantage of scarcity to more favorably price products and/or shift customers to a richer mix of servers,” the analysts say in a research note. If that is the case, the upside might stick around, and Super Micro might be able to produce “meaningfully better” gross margins and per-share earnings for the next several quarters, the analysts write. Shares pop nearly 25%. (connor.hart@wsj.com)

1134 ET – Super Micro Computer’s recent business update came as a pleasant surprise to investors on two fronts, JPMorgan analysts say in a research note. The artificial-intelligence server firm late Tuesday sharply raised its gross margin outlook for the current quarter, for one. And it also guided for higher-than-expected orders, the analysts say. The updates were well received on Wall Street, with Super Micro’s stock up 25%. Peers including Dell Technologies and Hewlett Packard Enterprise also got a boost, up 9.3% and 5.2%, respectively. The question now is how long the growth can last, the analysts say: “Heading into the earnings call on August 11th, we would expect investors to focus on the sustainability of these margins, particularly given the ever-present overhang associated with memory headwinds.” (connor.hart@wsj.com)

1006 ET – GE Vernova raised its full-year free cash flow outlook to between $11.5 billion and $12.5 billion, up from $6.5 billion to $7.5 billion, after a slew of slot reservations for its gas-powered equipment in 2Q. The company says slot reservation agreements grew to 116 gigawatts from 100 gigawatts, and are now on track to hit 125 gigawatts by the end of the year. Year-to-date, the company has generated about $10 billion in free cash flow which is 2.5 times more than it did in 2025, CEO Scott Strazik says on a call with analysts. “We expect our free cash flow in the first half of the year to be substantially higher than the second half, as many of these slot reservations convert to orders,” CFO Ken Parks says on the same call. (dean.seal@wsj.com)

0814 ET — Rogers Communications 2Q wireless metrics point to a continued challenge to onboard new users as it navigates a competitive Canadian mobile market. Postpaid net additions slip to 22,000 from 35,000 a year earlier, reflecting softer gross adds and ongoing promotional pressure, though churn improved to 0.94%, suggesting better customer retention. Meanwhile, prepaid trends were mixed as gross additions rose sharply, but net adds fell and churn jumped to 5.01%, which points to higher turnover in lower-value segments. Monthly mobile average revenue per unit, ARPU, declined to C$54.25 from C$55.45. Overall, Rogers is adding subscribers, but slower postpaid growth and lower ARPU shows the continued challenge of navigating intense competition for a smaller pool of customers. (adriano.marchese@wsj.com)

0538 ET – Chinese government-linked funds’ large-scale equity purchases should help bolster investor sentiment, Julius Baer analysts Eric Mak and Richard Tang say. The intervention by the funds, commonly known as the “national team,” underscores policymakers’ commitment to stabilizing markets and supporting strategic technology sectors amid recent volatility driven by a global equity selloff and concerns over domestic liquidity. While the “national team” has intervened in markets before, the analysts say this round differs in its focus on chip makers, artificial-intelligence and technology hardware stocks, rather than large-cap financials and state-owned enterprises. Julius Baer remains bullish on the long-term outlook of China’s AI sector.(jason.chau@wsj.com)

0525 ET – ASML Holding’s plans to boost output of its semiconductor-making machines in 2027 and 2028 show that demand visibility extends unusually far, UBS analysts say after hosting a virtual roadshow with ASML CFO Roger Dassen. The Dutch group is considering a roughly 30% boost to the output of its extreme ultraviolet machines for 2027 and another 30% increase for 2028 as customers have already placed a large number of orders. That unusually far visibility reinforces the view that semiconductor demand is likely to exceed supply for an extended period, analysts say. ASML shares trade 1.9% lower at 1,563.40 euros. (mauro.orru@wsj.com)

0508 ET – Chinese game stocks led losses in Hong Kong as investors’ attention returned to AI hardware companies. Semiconductor shares extended their global rebound after last week’s severe selloff. Tencent Holdings fell 7.05% and NetEase declined 7.4%, both notching their biggest one-day percentage drop in more than a year. Bilibili gave up 4.9%. For Tencent, its valuation has been depressed in recent months amid concerns about a lack of new blockbuster games and higher expenses related to AI investments. However, Bernstein analysts still expect Tencent to outperform its gaming peers. The benchmark Hang Seng Index ended 0.95% lower at 24892.66; the Hang Seng Tech Index fell 3.0%. (sherry.qin@wsj.com)

0505 ET – Royal KPN’s downward revision to its full-year service revenue guidance represents a slight negative, ING’s David Vagman writes in a note. The Dutch telecommunications company now expects 2026 group service revenue growth of around 1.5% from between 2% and 2.5% previously. Additionally, KPN’s strategy regarding 20% of the Netherlands it doesn’t cover with fiber raises questions, he says. Shares are down 0.6% at 4.22 euros. (najat.kantouar@wsj.com)

0451 ET – U.K. inflation is beginning to feel the effects of a global shortage of memory chips, driven by booming AI demand, ING’s James Smith says in a note. While headline inflation for June fell to a 15-month low, core inflation came in slightly above expectations. “It looks like ‘chipflation’ has washed up on U.K. shores; portable device prices spiked by 22% month-on-month, the biggest monthly change since the series began in 2015,” the economist says. Still, with food and services inflation cooling, the BOE doesn’t look likely to hike rates any time soon, he says. “We expect the Bank of England to hold rates throughout 2026 before looking to cut rates gradually from next spring.” (don.forbes@wsj.com)

0437 ET – Royal KPN’s cut to full-year service revenue guidance is unhelpful, Bernstein analysts write in a note. The Dutch telecommunications company now expects 2026 group service revenue growth of around 1.5% from 2% to 2.5% previously. The downgrade reflects weak first-half service revenue results, they say. Nonetheless, the company maintained its guidance for earnings before interest, taxes, depreciation, amortization after leases and free cash flow, they note. Shares are down 0.8% at 4.22 euros.( najat.kantouar@wsj.com)

0410 ET – Reach PLC’s strategy shows positive signs but macro conditions remain difficult, Panmure Liberum’s Sean Kealy and Johnathan Barrett write in a note. The U.K. media company reported a decline in revenue for the first half of the year and said it expects industry headwinds to persist. Widespread market challenges continue to pressure digital revenue, while the decline in circulation volume widened, the analysts note. However, digital headwinds stabilized during the second quarter, and if this trend continues, the company could offset the decline in referral traffic recorded in the first quarter, they say. Shares are down 21% at 46.70 pence. (najat.kantouar@wsj.com)

### [E1544] CNBC Top News | 2026-07-22 16:59 UTC | 盘中
Stocks making the biggest moves midday: Super Micro Computer, EQT, AAR, Chubb, Pegasystems & more
URL: https://www.cnbc.com/2026/07/22/stocks-making-the-biggest-moves-midday-smci-eqt-air-cb-pega.html
Check out the companies making the biggest moves midday: Super Micro Computer — Shares surged 25% after the server maker reported preliminary fourth-quarter results that featured much stronger profitability than investors had expected, offsetting revenue that came in near the low end of its guidance. EQT — Shares are up over 6.6% after the natural gas producer reported stronger-than-expected production for the second quarter. EQT also raised it's 2026 sales volume guidance to 2,375–2,450 Bcfe from 2,275–2,375 Bcfe. Amazon — Shares of the e-commerce and cloud services giant slid 1%. Amazon trimmed jobs in its artificial intelligence group, CNBC confirmed on Wednesday. It's the latest round of layoffs since the company announced back in January that it would let go about 16,000 of its corporate workers AAR — The $5 billion market cap provider of aviation services for airlines and government defense departments slid almost 11% after posting fiscal fourth quarter gross profit margin and adjusted EBITDA margin that didn't top Wall Street analysts' consensus estimates, according to FactSet's StreetAccount service. Management said on an earnings call that margin pressure in the parts supply unit stemmed from constrained supplies of "used serviceable material." Westinghouse Air Brake Technologies — The equipment provider for the rail industry saw shares pop 11% to touch a new 52-week high. Westinghouse lifted its guidance for the full year, calling for adjusted earnings of $10.60 to $10.90 per share on revenue of $12.3 billion to $12.6 billion. The FactSet consensus sought $10.63 per share on revenue of $12.39 billion. Chubb — The insurance company was down more than 3% despite reporting that growth in its property and casualty insurance business slowed compared to the previous quarter, which the company said was due to its underwriting discipline. Chubb expects that pressure on growth from its underwriting practices to ease, though. Dell Technologies , Hewlett Packard Enterprise — Super Micro Computer's surge spilled over to its server peers, with the group as a whole boosted by the better-than-expected preliminary results. Dell and Hewlett Packard Enterprise were up 10% and 5%, respectively. Pegasystems — The software company tumbled more than 16% after it reported second-quarter results that fell short of Wall Street expectations. Adjusted earnings came in at 35 cents per share, below the 43 cents per share analysts polled by FactSet had projected. Rocket Lab — Shares rose 3.5% after the company won a $266 million contract from the U.S. Air Force. The contract includes the launch of 12 suborbital vehicles and is expected to be completed by the end of 2028. GE Vernova — Shares declined more than 7% despite the company reporting a beat on revenue in the second quarter and raising its full-year guidance. CEO Scott Strazik said in a press release that the company's $176 billion backlog will permit continued revenue growth and margin expansion. AT & T — The telecommunications company rose 2.9% despite mixed results in its second-quarter earnings report. AT & T delivered adjusted earnings of 65 cents per share, above the FactSet consensus for 59 cents per share. CME Group — Shares were higher by 5% after the exchange operator reported earnings and revenue its second-quarter financial report above expectations. CME also said in a press release that the first half of 2026 was its best first six months of a year ever. — CNBC's Darla Mercado, Ananya Chetia, Fred Imbert and Scott Schnipper contributed reporting.

### [E1727] Seeking Alpha | 2026-07-22 17:51 UTC | 盘中
Dell Technologies jumps 10% amid AI server optimism
URL: https://seekingalpha.com/news/4616666-dell-technologies-jumps-10-amid-ai-server-optimism?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news
Shares of Dell Technologies (DELL) surged nearly 10% on Wednesday, climbing $39.17 to trade at $443.16 in mid-afternoon action.
Shares were helped by a note from Wedbush, which highlighted that Super Micro Computer's stronger-than-expected preliminary gross margins pointed to favorable industry dynamics, including component scarcity enabling better pricing. The firm noted that these conditions should also benefit Dell, HPE, and Nvidia.
Earlier this month, Evercore ISI analyst Amit Daryanani raised his price target on Dell to $500 from $450, calling the company "one of the best-positioned infrastructure vendors in the AI cycle," with demand broadening beyond GPUs into traditional servers, storage, and edge computing.
Dell has been volatile lately, bouncing around near a 52-week high of $469.47 set on June 1. Wednesday's gain extends a rebound from the previous session, which saw the stock advance about 6%. The recent upswing represents a recovery after a series of largely losing sessions, including a nearly 10% drop on July 15.{"type": "table", "props": {"data": [{"date": "Jul 22, 2026", "return": "+9.92%"}, {"date": "Jul 21, 2026", "return": "+5.83%"}, {"date": "Jul 20, 2026", "return": "-3.65%"}, {"date": "Jul 17, 2026", "return": "+1.27%"}, {"date": "Jul 16, 2026", "return": "-5.16%"}, {"date": "Jul 15, 2026", "return": "-9.80%"}, {"date": "Jul 14, 2026", "return": "+7.12%"}, {"date": "Jul 13, 2026", "return": "-1.81%"}, {"date": "Jul 10, 2026", "return": "-3.39%"}, {"date": "Jul 9, 2026", "return": "+4.22%"}, {"date": "Jul 8, 2026", "return": "+3.52%"}], "columns": [{"header": "Date", "accessor": "date", "align": "left"}, {"header": "Daily Return", "accessor": "return", "align": "right", "component": {"type": "signed-value"}}], "title": "DELL Daily Returns"}}
Dell's most recent earnings were reported on May 28. The company has disclosed over 5,000 AI customers and built a $43 billion AI server backlog driven by enterprise and sovereign AI demand. Management has guided for FY27 AI server revenue of $60 billion, a target that recent analysis suggests has already been exceeded on a run-rate basis.
Dell operates in over 170 countries and reported $3.1 billion in R&D expenses for its most recent fiscal year. The company has also reduced its share count by roughly 54 million shares over the past fiscal year, supported by a $10 billion increase to its buyback authorization. The next earnings report is expected on September 3.
Among recent SA commentary, five of six articles carry a cautious or neutral outlook. The broad consensus is that Dell's AI-driven fundamentals are real, but largely priced in after a near-300% run.
SA user comments on Dell reflect mixed sentiment, leaning cautious, with several readers trimming positions after large gains while others debate the sustainability of the company's margin profile.

### [E1982] Bloomberg TV+ | 2026-07-22 19:00 UTC | 盘中
「Bloomberg TV+」直播转录 02:30–03:00
URL: http://39.105.42.197:20307/event/live
【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-07-23 02:30–03:00(Asia/Shanghai),共 53 段
说明:以下为该时段该直播间的连续语音转录(直播 ASR,可能有同音/识别误差)。请从中识别与 AI算力/芯片/服务器/光模块/液冷/数据中心/大模型/机器人·具身智能/自动驾驶 等相关的、**可交易**的公司/产品/订单/产能/需求/合作/高管或官员表态,判断是否构成可交易事件;若通篇无可交易内容,判为不做。识别误差请结合上下文与常识修正,勿据孤立音近词臆断。

--- 转录正文 ---
[02:30] Welcome to Blomer this Week I'm David, I'm Lisa Mateay, and I'm Christina Raffini.
[02:30] breakingak news today from wall street to washington let's start over bloomberg this weekend bringing a little bloomberg into your weekend routine.
[02:30] 🎼What listen stream get your fixed income fixed watch Bberg real yield every Thursday at 12 PM.
[02:30] 🎼right here on Blo context changes everything this is Blo business week.
[02:30] 🎼Da with Carol Masser and Tim Sk on Bloomberg radio and television All everybody getting ready for the last hour of.😊
[02:30] On this Wednesday it is July 22nd man JulyS.
[02:30] Summer camp for some kids ends in a couple weeks because the kids have to go back to school here in New York it's not like that no, but you're right kids go back very late.
[02:30] But parts of the country, kids are already starting to get ready to go back to school, especially like down south and so on and so forth, you see kids heading back to school much sooner.
[02:31] We're certainly busy keeping an eye on the markets ahead of the earnings are just starting to really pick up and of course we've got some big ones after the close included.
[02:31] Alphabet Tesla IBM service now and a few others, having said that we're definitely off our best levels of the session, call it flat though on the S&P 5090.
[02:31] And down one full point, the Nasdaq 100 also pulling back a little bit here down about 82 points down three tos of a percent take.
[02:31] Look though, inside the S&P 500 today and you've got an index, must't even split 259.
[02:31] Orre actually higher today SMCI, we're talking about super microro, that is your top gainer in the SB 500 some new.😊
[02:31] After the close yesterday, so that is definitely moving higher, 242 names out in the S&P are actually pulling back to all right if you want more SMC.
[02:31] I just stay stay tuned because we're going to talk about it in just a second I'm Tim Stannik along with Carol Masser, let's take a look at some stocks on the move today.
[02:32] We're joined by Bloomberg News Cross assetet reporter Den Seva,, let's start with telecom AT&T.
[02:32] Start with the classics sticker tea stock is up more than 2% in earlier trading is as much as 6%.😊
[02:32] It about subscribers. it's all about bundles. The main metric that's catching my eye is monthly wireless phone subscribers that are up.
[02:32] Competitive field, the company is actually still down 8% year to date despite the surge we're seeing.
[02:32] So some optimism across the industry, Verizon, T mobilebile, all stock surge, it's been very competitive and hard to kind of find a new deal.
[02:32] Three big companies, there isn't too many new things you can offer, but they've been trying to bundle all those phone services.
[02:32] Well I guesst you want to catch my attention, just lower your prices yeah, thats we move around so quickly.
[02:32] You watching you got to get on the Snivek family plan Daniel, come on, Tom, are you listening?
[02:33] They're watching, but the convergence moto is working van Kusad I saw 40% of households that purchase home broadband.
[02:33] arere also buying mobile phone service. So I guess we should bundle and combine things. Yeah, I guess it would get a good deal.
[02:33] For a long time, our family was too big for the family plan, I thought you weren't on it anymore Oh Oh use.
[02:33] Listen, for a long time we weren't on it because they didn't have a big enough family plan, but then some of the companies got bigger family plans so now the,
[02:33] I can be part of it So interestings here All right, let's go to so that's A.
[02:33] Nike is ending online sales agreements in China, potentially hundreds of distribution they've been really trying to work on.
[02:33] That regionion, obviously, that's been their soft spot. It's been under a lot of pressure. They're trying to get tight control over pricing, inventory and ending some of those parts.
[02:34] M help. That said, investors are not too excited about the idea. The stock is down 2% today. The ticker is Anke Ee.
[02:34] And the stock is already down 37% year to date we've seen progress in some regions, especially North America is doing.
[02:34] Well, but investors are especially worried about China, and it seems like this is not necessarily helping the COs saying they're going to do a compred.
[02:34] If reset of the China operations, they're really investing in their actual shops there, they have more than 200 physical locationss.
[02:34] Nevertheless, it seems like the new plan isn't not taken so well, this used to be up about almost $178 a share that was back in late 2021.
[02:34] And we've talked about a lot of the troubles and China is certainly part of it it fell in 2022, Nike fell 29%2.
[02:34] It fell 6%, 2024, it fell 29% in 2025, it fell 14%.
[02:34] Nik if you've been running, if it was a hill, you' were running in Nike sneakers, it's been easy because it's all been down.
[02:35] For the most part, Carol I'm sorry, that was harsh, I'm sorry Nik, it's an incredible iconic brand right think about.
[02:35] So many partnerships and you know they have a Ss partnership, they have so many things, but so far investors are not excited.
[02:35] Invest microcomputer. That's why they're excited about share sword as much as 2.
[02:35] % in earlier trading now we're stealing double digit about 20%. The ticker, of course, is SmCI. the company said it's backlog.
[02:35] Has reached a record we're talking more than 60 billion in New orders during the quarter. That's quite a backlog. Investor are pretty excited.😊
[02:35] That said the company hasn't been doing too well this year, it was actually declined 13% before the news it has.
[02:35] Suffered 28% full, and that was when they announced that equity offerings were 7 billion, so investors weret into exciting.
[02:36] Those results are posting, they're posting seem pretty good, they say margins are going to in range of 15 to 17% it's a better.
[02:36] Analysts are expecting everyone's looking at profitability, so clearly investors are appd, analysts are appd, and at least for now.
[02:36] That's working it's crazy how one day can change the picture for the whole year, you know, I always love like when you guys come on or somebody who covers like these companies or the.
[02:36] And they're just like, what's fundamentally changed I mean really, I don't know all right good stuff, Denita thank you so much check out our stock movers podcast.
[02:36] Five minute episodes, pick winners and losers in the stock market find it on Apple Spotify anywhere and get your podcasts coming up next.
[02:36] On beginning at three o'clock, but also at four o'clock when we hear from Albet and Tesla we got instant insight and analysis from a great team, the close.
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## 研究交付要求

这是一条已经从整场材料语义拆出的独立催化，不要重新把它压回大盘总评。核实美股异动原因和传播时序；用结构化供应链、内部 KB 与公司披露坐实每个亚洲候选；逐腿查真实行情和本地市场 price-in；候选不成立也要逐条给出有证据的 AVOID。