投资经验与理念 - 资深分析师拥有自1997年起的华尔街投研经验 并亲身经历了互联网泡沫的繁荣与破灭周期 [1][2] - 投资核心理念是寻找拥有杰出CEO的优秀公司并长期持有 该模式在苹果、微软和英伟达身上均得到验证 [4] - 坚持投资英伟达并非错误 其持仓成本低于每股20美元 买入时间远早于2022年ChatGPT引发的AI需求浪潮 [3][5] 英伟达的投资案例 - 早期投资英伟达的核心理由是其CEO在游戏领域的统治力及加密货币挖矿的兴起机遇 [4] - 随着人工智能成为主导 投资逻辑随之演变 但对公司及其CEO黄仁勋的信念始终坚定 [4] - 另一位华尔街资深分析师Stephen Guilfoyle也因投资英伟达获利 他赞赏黄仁勋驾驭行业周期性波动的能力 并在2025年股价波动后更新了目标价 [5][6] 行业趋势与驱动因素 - 企业IT支出模式发生重大转变 从专注于内部私有数据中心转向采用云端托管网络 以降低前期基础设施投资 [7] - 从私有到公有云的转变已持续发生 主要受益者是亚马逊AWS、Alphabet和微软等拥有大量未充分利用计算能力的巨头公司 [8] - 这些云巨头通过将计算空间“租赁”给其他公司实现了资产货币化 而英伟达正乘着由此产生的AI需求浪潮进入2026年 [6][8]

Key Points Nvidia is a part owner of Nebius and Applied Digital. Both companies benefit from the huge construction projects in data centers. 10 stocks we like better than Applied Digital › The reporting requirements of the Securities and Exchange Commission (SEC) say that companies that own more than $100 million in other companies' stocks must report those holdings to the SEC at the end of the quarter. Then, 45 days after the quarter ends, that information is released to the public in a Form 13F. ...

2026 is shaping up to be another incredible year for some stocks.2026 is right around the corner, and there are some incredible stocks available to buy. I've got three that I believe will crush the market in 2026, and I think investors should have some healthy exposure to them.Nvidia (NVDA +1.09%), The Trade Desk (TTD +0.56%), and MercadoLibre (MELI +0.38%) make great buys. These three all operate in different areas, and are poised to continue 2025's success or make a huge comeback. 1. NvidiaNvidia is the w ...

EPR Properties (NYSE:EPR) is included among the 13 Highest Paying Monthly Dividend Stocks to Buy. JPMorgan Trims EPR Properties (EPR) Target but Maintains Overweight View On December 2, JPMorgan lowered its price target on EPR Properties (NYSE:EPR) to $58 from $65 and kept an Overweight rating on the stock. The firm cut its 2026 and 2027 estimates to reflect lower deal volume, no Catskills land sale, and softer percentage rent assumptions. A few days later, on December 4, EPR Properties (NYSE:EPR) annou ...

Dynex Capital, Inc. (NYSE:DX) is included among the 13 Highest Paying Monthly Dividend Stocks to Buy. Keefe Bruyette Reaffirms Bullish Agency REIT Stance, Raises Dynex (DX) Target On December 18, Keefe Bruyette raised its price target on Dynex Capital, Inc. (NYSE:DX) to $14.50 from $14 and kept an Outperform rating. The firm said it remains most constructive on agency MBS REITs heading into 2026. Dynex Capital, Inc. (NYSE:DX) stands out for its dividend. The stock yields about 14.87%, which is unusually ...

SL Green Realty Corp. (NYSE:SLG) is included among the 13 Highest Paying Monthly Dividend Stocks to Buy. SL Green (SLG) Faces Dual Target Cuts as Office REIT Outlook Stays Neutral Photo by nathan dumlao on Unsplash On December 18, Ladenburg analyst Floris van Dijkum cut his price target on SL Green Realty Corp. (NYSE:SLG) to $50 from $60 and kept a Neutral rating. The move followed the company’s investor day. A few days earlier, on December 12, Mizuho also lowered its price target on SL Green to $47 fr ...

LTC Properties, Inc. (NYSE:LTC) is included among the 13 Highest Paying Monthly Dividend Stocks to Buy. Wells Fargo Notes Resilient REIT Operations, Raises LTC Target On November 26, Wells Fargo lifted its price target on LTC Properties, Inc. (NYSE:LTC) to $37 from $36 and kept an Equal Weight rating on the stock. The firm said that, aside from a few high-profile exceptions, most REITs posted Q3 2025 results and outlooks that pointed to healthy operating conditions, even with ongoing macro and labor mark ...

Agree Realty Corporation (NYSE:ADC) is included among the 13 Highest Paying Monthly Dividend Stocks to Buy. Mizuho Modestly Adjusts Valuation on Agree Realty (ADC) Photo by Vitaly Taranov on Unsplash On December 17, Mizuho lowered its price target on Agree Realty to $75 from $77. The firm kept a Neutral rating on the stock. Agree Realty Corporation (NYSE:ADC) is a net-lease REIT that owns free-standing retail properties, including grocery stores, home improvement chains, dollar stores, and pharmacies. ...

市场整体表现与前景 - 2025年末股市表现强劲，三大主要指数均有望实现稳健的周度涨幅，标普500指数在周三创下历史新高，若继续上涨将再创新纪录 [1] - 市场对2026年持建设性看法，但存在风险，主要风险在于就业市场的潜在进一步疲软，若裁员加速导致消费者信心和支出下降，将改变乐观前景 [2][3] - 市场广度正在改善，近期创纪录的上涨并非由科技股引领，而是金融和工业等周期性板块领涨，表明市场行情正向更广泛的板块扩散 [5] 盈利增长与估值 - 盈利增长呈现广泛化趋势，增长最快的三个板块中的两个是工业和材料，且欧洲、亚洲以及美国的中小盘公司普遍呈现积极的盈利增长前景 [6] - 估值预计将保持稳定，只要利率稳定或呈下降趋势，通胀稳定或下降，估值倍数就没有风险，投资策略是依靠盈利增长推动股价上涨 [8][9] - 欧洲和日本预计有10%的利润增长，新兴市场利润增长预计在百分之十几，美国则呈现全面增长 [9] 美联储政策与利率展望 - 对美联储2026年的基本预期是可能进行两次降息，这将使联邦基金利率降至大约3%至3.5%的中性利率水平 [10] - 美联储的政策路径将取决于通胀能否稳步下降至目标路径，以及劳动力市场能否保持稳定，下周公布的12月会议纪要将提供更多洞察 [11] 人工智能投资趋势演变 - 人工智能投资焦点正从投入转向盈利，投资者将关注投资回报率，而不仅仅是公司是否拥有AI战略 [12] - 科技公司已拥有强劲的利润率，投资者将关注其能否维持，并关注医疗保健、金融服务等其他投资于AI工具以提高生产力的行业 [13] - 企业AI采用与基础设施支出存在不匹配，目前数据中心建设速度远超企业采用速度，全球2000强企业中仅约30%准备好转向生成式AI [69][71] - AI的货币化信号将体现在云巨头（通过代币增长和整体云增长）以及软件公司（特别是CRM、ServiceNow、HubSpot等代理型应用）强劲的新增年度经常性收入上 [73] 行业与板块分析 - 医疗保健板块兼具进攻与防御属性，内部既有防御性的制药业，也有进攻性的生物技术，AI尤其有利于保险公司提升盈利能力和生产力 [14][15] - 软件板块在2025年表现逊于大盘，IGV软件ETF年内上涨约7%，大幅跑输标普500和纳斯达克100指数，部分原因是投资者对大型SaaS公司能否受益于AI存在疑虑 [31][32] - 软件行业估值处于两年平均水平附近，一个包含40家增长型软件公司的等权重指数显示，企业价值与收入之比略低于10倍，估值并未显得过高 [38][39] - 半导体指数在2025年上涨近48%，而软件指数仅上涨7.8%，凸显了基础设施支出与企业采用之间的差距 [68] 固定收益与实物资产 - 固定收益投资机会重现，10年期国债收益率在4%左右，对于高税率投资者而言，市政债券的税收等价收益率最高可达6% [17] - 在应税市场，看好非联邦机构支持的抵押贷款，因为房主基本面稳健，房屋资产净值高且就业前景良好 [18] - 贵金属价格飙升至历史新高，黄金年内上涨超过70%，白银上涨165%，铂金上涨175% [22] - 相比之下，加密货币表现黯淡，比特币年内下跌7%，以太坊下跌超过12%，部分策略师预计比特币可能在1月反弹 [22][23][24] 公司动态与交易 - Target股价因报道称激进投资者Tom's Capital已建仓而上涨近3%，尽管该公司过去一年股价下跌约25% [26] - 英伟达股价上涨，因其宣布以约200亿美元收购AI芯片初创公司Groq的资产，这是其有史以来最大交易，旨在深化其在AI推理领域的影响力 [28] - 软件公司Datadog是云可观测性领域的先驱，市场增长与超大规模云服务商收入增速同步且正在加速，该公司在AI原生客户群体中增长加速，OpenAI在第三季度续签了大合同 [41][43][44][45] - Salesforce股价年内下跌约20%，有观点认为其估值合理，已看到新增年订单价值指标在第三季度加速，AI产品开始产生收入，但需要更多证据确认趋势 [46][47][48] - 美光科技股价在2025年上涨约240%，最新财报在利润率、收入、盈利和指引方面全面超预期，市场看好其股价有望达到300美元 [55][56][57] - Cava股价年内下跌约50%，但近期有所回升，由于该股被大量做空，可能因空头回补出现上涨行情 [60][61] 信用市场与风险 - 私人信贷市场引发担忧，一些商业发展公司在今年遭遇挫折，市场关注是否将进入新的信贷麻烦周期 [85][86] - 信贷压力指标目前处于历史低位，近期个别信用事件并未引发市场广泛压力，但需警惕高收益债券与国债利差、地区银行股价、媒体和有线电视债务问题以及消费者贷款拖欠率等风险信号 [92][93][94][95][96] 媒体与娱乐行业 - 奥斯卡颁奖礼将从2029年起离开ABC，转至YouTube进行免费直播，合约至少持续到2033年，这是首个脱离有线电视转向流媒体的主要颁奖典礼 [98] - 此举对好莱坞和媒体公司影响重大，ABC此前每年支付约1亿美元转播权费用且收视率逐年下降，YouTube则借此提升其在好莱坞的影响力和信誉 [101][102] - 选择YouTube而非Netflix等平台，部分原因在于其作为中立第三方的定位及其无与伦比的全球覆盖能力，有助于奥斯卡扩大全球受众 [103][105][106] - 对于迪士尼和ABC，失去奥斯卡后可将资金转向其他内容，如《与星共舞》和体育赛事 [114][115] - 其他颁奖典礼如演员奖（原演员工会奖）已移至Netflix，随着观众分流，更多颁奖典礼可能转向流媒体平台 [117][118] 宏观经济数据前瞻 - 下周市场将关注美联储12月FOMC会议纪要，以了解政策制定者在年内第三次降息后的分歧程度 [120] - 11月待定房屋销售数据预计环比增长0.8%，较10月的增速放缓，表明在高抵押贷款利率和负担能力压力下，买家签约意愿或能力减弱 [121] - 凯斯-希勒房价指数预计显示房价增速略微降温至0.1%，表明房价仍在上涨但速度放缓 [122]

Is there a growing economic divide in America? And is it just income groups or businesses, too? Now, some think so, claiming big companies are raking it in. They're seeing a huge surge in profits and excitement over AI. But small companies, these folks say, are experiencing just the opposite. They say they haven't been able to weather economic storms the way big ones have. And years of inflation, nervous consumers and tariff uncertainty have dragged down on profits, hiring, and layoffs. So, I'm just going t ...