Why Microsoft (MSFT) Stock Is Ripe for a Turnaround zacks.com

中国大量科研投入形成了巨大的无形资产，其大规模应用为中国赢得全球竞争力 3月25日，世界知识产权组织中国办事处高级顾问白光清在中关村论坛分论坛上表示，中国在谋划整个创新体系的过程中，一定也在谋划知识产权的战略。图：中关村论坛 【财新网】 “知识产权在整个中国的创新体系当中发挥着独特作用。”3月25日，世界知识产权组织中国办事处高级顾问白光清在中关村论坛分论坛上表示，中国在谋划整个创新体系的过程中，一定也在谋划知识产权的战略。中国将知识产权作为一种无形资产实现大规模应用，最终赢得了全球的竞争力，也实现了战略的目标。 他以当下如火如荼的人工智能浪潮举例称，在模型调用过程中，每百万Token（词元），中国只需要0.3美元，而美国需要5美元，相差17倍。这就是中国的竞争力。

hapabapa/iStock Editorial via Getty Images By Khaveen Jey, CFA, FMVA, Portfolio Manager @ Khaveen Investments & Nicholas Tan, Investment Research Analyst @ Khaveen Investments In our previous analysis of Lam Research ( LRCX ), we determined that the company had a strong market positioning in the etch market, due to its early mover advantage, which had contributed towards long-standing customer relationships. We further expected the company to sustain a strong presence in the etch market, supported by its developments in its core etch products, such as Akara , in early 2025. Since our last coverage, its stock price has surpassed our previous price target of $127.53 (22/10/2025) and is currently trading at $244.25 (24/02/2026), which is almost double our previous target price. We also found that its H1 2025 revenue growth (24.87%) was much higher than our 2025F projections (8.45%). In this analysis, we thus analyze why revenue grew much higher than our forecasts, and whether the company could sustain its revenue growth. We first evaluate the reasons that our projections were not in line. We then analyze whether China could sustain its revenue growth, as the region accounts for the largest portion of its revenues and has the 2 nd highest geographic growth. We then evaluate whether the transition to Gate-All-Around ( GAA ) could provide market growth opportunities, as management indicated that the transition to GAA “equates to roughly $1 billion in incremental Lam SAM for every 100,000 wafer starts per month of capacity”. Higher-Than-Expected Growth We first analyze the reasons that our previous projections were not in line. We thus compile their revenue breakdown by end market and our previous projections to evaluate this further. We also compile their respective market breakdown to compare their growth against the market. Company Data, WTS, TrendForce, Khaveen Investments Company Data, WTS, TrendForce, Khaveen Investments In H1 2025, the company grew by 24.87% YoY and...

格隆汇3月25日｜默沙东(MRK.US)涨2.2%，报118.95美元；生物技术公司Terns Pharmaceuticals(TERN.US)涨5.5%，报52.76美元。 消息面上，默沙东宣布将以67亿美元收购Terns Pharmaceuticals。默沙东对Terns提出的收购价为每股53美元，较其最新收盘价溢价6%。此次收购将使默沙东获得Terns旗下实验性药物TERN-701。该药物正被测试用于治疗慢性髓性白血病，一种起源于骨髓、导致白血病细胞失控增殖的癌症。(格隆汇)

Anthropic's fight with the Pentagon is expanding to Congress. Sen. Adam Schiff (D-CA) is working on a new bill to "codify" Anthropic's red lines and ensure humans make the ultimate decisions in questions of life and death, and Sen. Elissa Slotkin (D-MI) recently introduced a bill to limit the Defense Department's ability to use AI for mass surveillance of Americans. The Trump administration blacklisted Anthropic earlier this month after it set limits on how the military could use its AI models, designating it a supply-chain risk. Anthropic has filed suit , accusing the government of violating its constitutional rights. It's insisted that the … Read the full story at The Verge.

Saksit Sangtong The rise of artificial intelligence has created the most significant catalyst the cybersecurity industry has experienced in two decades, according to Wedbush. The financial firm finds industry stalwarts such as CrowdStrike ( CRWD ), Palo Alto Networks ( PANW ), Zscaler ( ZS ), Check Point ( CHKP ), and Rubrik ( RBRK ) stand out as the most likely winners of the AI windfall over the coming years. "We note that today we estimate cyber security represents roughly 5% of IT budgets and will likely be doubling over the next few years to 10% as protecting the tidal wave of agents, AI use cases, and broader technology push poses massive risks to many organizations we spoke with on the floor," said Wedbush analysts following their discussions at the RSA Conference this week in San Francisco. "In essence, AI makes cyber security even a higher priority but, importantly, will attach this technology to many strategic AI deployments, which will translate into hundreds of billions of dollars incrementally coming into the industry over the coming years." AI startups OpenAI ( OPENAI ) and Anthropic ( ANTHRO ) have released their own cybersecurity agents recently, such as Codex Security and Claude Code Security , respectively. However, Wedbush does not believe these types of developments will diminish the need for cybersecurity vendors. "The increased use of AI has dramatically lowered the cost, skill, and time required to execute sophisticated attacks while massively elevating their scale/precision," Wedbush added. "AI agents and autonomous workflows dramatically increase the attack surface further, with more APIs, more machine identities, more lateral movement risk, and more cloud-native workloads creating entirely new vectors that legacy point solutions were never designed to address. Critically, AI does not reduce the need for endpoint, identity, cloud, and SOC automation; it multiplies it as more enterprises deploy LLM-powered agents….cyber becomes the enforcemen...

This high-growth tech stock has some glaring flaws.

Key PointsPalantir’s controversial reputation could impact its commercial business.

Image source: The Motley Fool. Wednesday, March 25, 2026, at 8 a.m. ET Need a quote from a Motley Fool analyst? Email pr@fool.com Continue reading

Key PointsNvidia sees huge growth from its new computing systems.

Microsoft (NASDAQ: MSFT) may be the most grounded way to play the AI energy bottleneck, while Oklo (NYSE: OKLO) and Navitas (NASDAQ: NBIS) offer bigger upside if execution and infrastructure finally line up. That tension is what makes this setup so compelling right now.

Supreme Court Limits ISPs' Liability For Online Piracy The Supreme Court on Tuesday sharply curtailed when internet service providers can be held liable for copyright infringement committed by their subscribers , handing a major victory to broadband companies and dealing a setback to Sony Music Entertainment and other major labels seeking to combat online piracy. In a 7-2 decision (with Justices Sotomayor and Jackson concurring only in the judgment), the justices ruled that Cox Communications Inc. cannot be held liable for the actions of customers who illegally downloaded and shared songs using its network , even after the company received more than 163,000 infringement notices from copyright holders. The ruling reverses a $1 billion jury verdict against the Atlanta-based cable and internet giant and clarifies long-standing uncertainties about secondary liability under U.S. copyright law. The case stemmed from a 2018 lawsuit in which the labels accused Cox of willful contributory and vicarious infringement for failing to terminate repeat offenders. A federal jury in Virginia sided with the labels on both theories and awarded $1 billion in statutory damages. The Fourth Circuit upheld the contributory-liability finding but tossed the vicarious-liability verdict, leading to the Supreme Court appeal on the contributory issue alone. Writing for the majority, Justice Clarence Thomas said a service provider is liable for a user’s infringement only if it intended its service to be used for that purpose. “The provider of a service is contributorily liable for a user’s infringement only if it intended that the provided service be used for infringement, which can be shown only if the party induced the infringement or the provided service is tailored to that infringement,” he wrote. Such intent exists only when the provider actively induces infringement - such as by marketing a product as a tool for piracy - or offers a service that is “not capable of ‘substantial’ or ‘commerci...

格隆汇3月25日｜国内商品期市夜盘收盘涨跌参半，化工品涨幅居前甲醇涨3.01%；农副产品全部上涨，玉米淀粉涨0.54%；油脂油料多数上涨，豆粕涨0.27%；能源品跌幅居前，低硫燃料油跌3.02%；非金属建材全部下跌，玻璃跌1.32%；黑色系全部下跌，焦炭跌0.36%。

WASHINGTON, March 25, 2026--Data Center World today announced its keynote presentations, featuring top executives, engineers and global industry leaders from Google, NVIDIA and Oracle, among others, to address the most urgent challenges facing the industry: scaling AI infrastructure, securing power and rethinking how data centers are designed, built and operated in the age of AI.

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Neos Nasdaq-100 High Income ETF (Symbol: QQQI) where we have detected an approximate $430.6 million dollar inflow -- that's a 4.8% increase week over

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Large Cap Core Active ETF (Symbol: BLCR) where we have detected an approximate $569.3 million dollar inflow -- that's a 17.0% increase week o

美国总统特朗普任命多位科技行业领袖组成新的总统科技顾问委员会，其中包括Meta Platforms首席执行官马克·扎克伯格、风险投资家Marc Andreessen、 甲骨文 的拉里·埃里森以及英伟达首席执行官黄仁勋。该委员会将重点关注人工智能政策及其他科学相关议题。 白宫周三公布该委员会成员名单，并表示总统科技顾问委员会将由白宫人工智能和加密事务主管David Sacks，以及白宫科技政策办公室主任Michael Kratsios共同担任主席。 该委员会是硅谷与特朗普政府加深联系的最新标志，业界领袖支持他降低监管和税收负担、提升美国在前沿领域地位的举措。 其他入选成员还包括 谷歌 联合创始人Sergey Brin、 戴尔 科技首席执行官Michael Dell，以及甲骨文执行副董事长Safra Catz。白宫表示未来还将任命更多成员。但尚未明确委员会何时召开会议。 责任编辑：李桐

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio Intermediate Term Corporate Bond ETF (Symbol: SPIB) where we have detected an approximate $253.8 million dollar outflow -- that's a 2

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI Emerging Markets ex China ETF (Symbol: EMXC) where we have detected an approximate $503 inflow -- that's a 3.1% increase week over week

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares iBoxx $ High Yield Corporate Bond ETF (Symbol: HYG) where we have detected an approximate $665.0 million dollar inflow -- that's a 4.4% incre

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1. Oil was driving stocks again Wednesday. U.S. and international crude prices dropped 4% each, inversely providing support for the S & P 500 to jump nearly 1%. The markets were moving on reports that the U.S. sent Iran a 15-point plan to end hostilities. Iran, not surprisingly, rejected the overture publicly. In addition to watching oil prices, Jim Cramer said that how Chevron trades is a good barometer of the direction of the overall stock market. Again, if Chevron is down, as it was Wednesday, then the market would likely be higher, and vice versa. 2. We like Meta Platforms ' new executive stock plan tied to aggressive targets as a way to get company leadership to reach for the stars. These options packages for CFO Susan Li, Tech chief Andrew Bosworth, Chief Product Officer Christopher Cox, and operating chief Javier Olivian won't be realized unless "Meta achieves massive future success, benefiting all of our shareholders," a company spokesperson said. Jeff Marks, director of portfolio analysis for the Club, said, "We like that positive alignment there." CEO Mark Zuckerberg is not part of the plan. 3. Linde is playing the long game to benefit from helium supply disruptions in Qatar, one of the world's biggest producers of the gas. Iran has targeted some of Qatar's facilities involved in helium production. Linde competitor Airgas, which is an Air Liquide company, has had to reduce shipments to customers because of Qatar's production issues. Linde is not that reliant on Qatar for helium and has its own stores of supply. Jeff said Linde can leverage its position to go after rivals' customers and gain market share. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 m...

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the State Street Technology Select Sector SPDR ETF (Symbol: XLK) where we have detected an approximate $1.2 billion dollar outflow -- that's a 1.4% decr

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the ProShares Ultra QQQ (Symbol: QLD) where we have detected an approximate $485.5 million dollar outflow -- that's a 5.4% decrease week over week (from

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the VanEck Semiconductor ETF (Symbol: SMH) where we have detected an approximate $690.5 million dollar outflow -- that's a 1.6% decrease week over week

Taiwan Semiconductor’s Strategic Moves Boost Investor Confidence stockstotrade.com

格隆汇3月25日｜蒙牛乳业(2319.HK)公布财报显示，2025年实现收入822.449亿元(人民币，下同)；毛利率同比提升0.3个百分点至39.9%。经营利润为65.644亿元，经营利润率为8.0%。本公司权益股东应占利润同比上升1378.9%至15.454亿元。本年度，集团经营业务所产生的现金净流入为87.505亿元，较2024年增加5.0%，创历史新高。董事会建议派发截至2025年12月31日止年度的末期股息每股0.520元， 分红总额合计20.170亿元。

Ricardo Moreira Media conglomerate Disney ( DIS ) is cancelling its $1B investment in OpenAI after the ChatGPT owner announced Wednesday that it will shutter its AI-powered short video generation app Sora, according to multiple media reports. The deal, which included a licensing pact for over 200 Disney characters for the Sora app, was supposed to be a gateway for OpenAI to tap into valuable Hollywood intellectual property amid the film industry's fight against AI startups that violate copyrighted content. "As the nascent AI field advances rapidly, we respect OpenAI’s decision to exit the video generation business and to shift its priorities elsewhere," according to a Disney spokesperson. "We appreciate the constructive collaboration between our teams and what we learned from it, and we will continue to engage with AI platforms to find new ways to meet fans where they are while responsibly embracing new technologies that respect IP and the rights of creators." The news also comes about a week into new Disney CEO Josh D'Amaro's tenure. Separately, D'Amaro is expected to evaluate Disney's exposure in Epic Games, the company behind the popular Fortnite game, after it announced job cuts on Tuesday due to slowing user engagement. Disney made a $1.5B investment back in February 2024 to take a 9% stake in Epic Games; D'Amaro spearheaded that deal under previous CEO Bob Iger. More on OpenAI, Walt Disney Disney's Sports Dynasty Taps Into A $600 Billion Market Opportunity Nadella's Flip-Flop OpenAI's Dilemma OpenAI hires India’s JioStar CEO to lead Asia-Pacific operations OpenAI secures more funding, lifting record round to $120B, CFO says

投资要点 系列二中，我们对中国居民财富的两轮历史迁徙进行了详细回顾，并提出当前在低利率与低通胀背景下， 第三次历史性迁徙已于2023年左右正式开启，“存款+”或是主要流向。2025年经历了一次高体量的存款到期压力测试，成为验证迁徙特征的关键窗口；2026年初的数据则提供了压力测试后的延续性验证。 2024-2025年参照系：资金的“稳健底色”。 我们测算，2024-2025年间理财、保险、货基三大“类存款”产品年均净流入近7万亿元，构成存款外溢的绝对承接主力。而除开股市上涨带来的估值扰动，2025年全年股票与混合型基金份额仅新增3313亿份。但机构行为的调整，使得2025年居民配置行为呈现出表与里的分化——表面上，居民依然主动选择理财、保险等低风险产品，延续着对安全性的诉求；不过在政策推动与机构行为驱动下，产品底层配置结构已发生转变，使得居民资金以间接方式向权益市场渗透。尤其是政策与赚钱效应“双击”带动保险资金入市比例明显抬升（股票配置从7.5%升至10.1%），成为居民资金间接入市的主要通道。 股市真相：是“杠杆共振”而非“存款入市”。 2025年高弹性行情由融资资金（创2.5万亿元历史新高）和私募资金（规模增长35%）主导，与AI、半导体等领涨板块高度契合。而我们测算，2025年居民直接或间接净入市资金约1.6万亿元，其中保险资金贡献主要增量，尚不是居民主动风险转型的结果。 居民财富配置的核心目标是跑赢通胀。 展望2026年，8-10万亿元到期存款的再配置方向仍取决于通胀预期演变——若通胀预期实质性回摆，“沉睡”资金有望向股市平稳接力；反之，则将延续“存款+”迁徙路径。 2026年初的延续验证：季节性提速与真实成色待辨。 前两月居民存款呈现进一步“外溢”态势，1-2月居民存款同比少增8900亿元，对应非银存款同比多增1.12万亿元。其中，显著的到期再配置压力（2026年77万亿到期定存中约44%集中于一季度）对数据形成支撑，一季度外溢资金的配置方向与往后到期高峰消退后的外溢速度，我们将持续跟踪分析。 风险提示：数据测算与假设偏离风险；宏观基本面修复不及预期；市场波动与杠杆资金出清风险。 系列二中，我们对中国居民财富的两轮历史迁徙进行了详细回顾，并提出当前在低利率低通胀的背景下， 第三次历史性的迁徙已经从2023年左右正式开启 ，“存款+”或是主要流向。 2025...

andreswd/E+ via Getty Images Business uncertainty about revenue growth (smoothed) for four quarters ahead moderated to 3.60% in March from 3.72% in February, according to the Atlanta Fed's Survey of Business Uncertainty released on Wednesday. Sales revenue growth expectations have risen “somewhat” over the past few months, the Atlanta Fed said. However, they're still more uncertain about future sales growth than before the pandemic. Meanwhile, business uncertainty about employment growth (smoothed) for the year ahead increased to 4.43% from 4.34% in the prior month. The survey also found that more firms are adjusting their prices in response to specific events than they did in 2019, the Atlanta Fed said. Revenue growth uncertainty abates somewhat in March (Atlanta Fed) More on the US Economy The 'Epic Fury' Of Stagflation Consumer Sentiment Is Near The Breaking Point U.S. import and export prices jump the most since 2022 Current account deficit narrows more than expected in Q4

拼多多称将继续重仓中国供应链，“新拼姆”一期注资150亿元，未来三年计划总投入1000亿元 【财新网】 低价电商平台拼多多（NASDAQ：PDD）开启品牌自营模式。 3月25日，拼多多正式宣布组建“新拼姆”，搭建自营品牌。据介绍，“新拼姆” 整合“拼多多+Temu”的供应链资源，重点面向全球市场，系统性自营并孵化面向不同市场、不同品类的品牌。 拼多多方面称，“新拼姆”已在上海成立新的专项公司，一期现金注资150亿元，未来三年计划总投入1000亿元，全面覆盖国内产业带，推出定制化制造方案，培育一批不同定位、多种品类的自营品牌。