With earnings season in the first three months of 2026 winding down, March can be a great time to pick up some tech stocks without the worry of a big stock-moving event on the near horizon. Let's look at three top AI stocks to buy this month. Nvidia The slight dip in Nvidia's (NVDA 2.94%) stock price following its earnings release late last month opens up a buying opportunity. The company continues to grow its revenue rapidly, with its sales soaring 73% year over year in the fiscal fourth quarter to $68.1 billion. That growth shows no signs of letting up. Demand for its graphics processing units (GPUs) remains through the roof, while its networking portfolio has climbed 3.5 times to $11 billion. The five largest AI players alone are set to spend $700 billion on AI infrastructure in 2026, which will be a big driver for Nvidia. These companies are also showing no signs of slowing their spending in the AI race. Expand NASDAQ : NVDA Nvidia Today's Change ( -2.94 %) $ -5.39 Current Price $ 177.95 Key Data Points Market Cap $4.3T Day's Range $ 176.83 - $ 182.75 52wk Range $ 86.62 - $ 212.19 Volume 6M Avg Vol 177M Gross Margin 71.07 % Dividend Yield 0.02 % The GPU leader has also made moves to help strengthen its position for the next stages of AI, which will focus on inference and agentic AI. For inference, its acquisition of the talent of chipmaker Groq and the licensing of its technology position it better. Meanwhile, the company is improving its position in central processing units (CPUs), which will become more important with AI agents. Alphabet Over the past year, it has become increasingly clear that one of the best AI stocks to own for the long term will be Alphabet (GOOGL 0.75%) (GOOG 0.87%). The company has the most complete AI stack, as the only company with both top-tier AI chips and a leading foundational large language model. By having developed custom AI chips over a decade ago that it has used to run much of its internal workloads, Alphabet has bolted out t...

Driven by a multitude of industrial applications, lithium is outperforming precious metals this year. Investors can use three ETFs to gain exposure.

TQQQ has delivered a 47.69% gain over the past year and 2,653.53% over the past decade. Those numbers explain why retail investors keep coming back to it. The appeal is simple: own the Nasdaq-100, but with the accelerator pressed to the floor. In a sustained bull market, that logic works extraordinarily well. The problem is ... TQQQ Holders Face a Risk That Has Nothing to Do With the Nasdaq Falling

AMD's Linux graphics stack had an unusual moment this past week. Anush Elangovan, a corporate VP at AMD, published a small experimental Radeon compute driver written entirely in Python, as reported by Phoronix. Beyond that, the code was produced entirely using Anthropic's Claude Code, according to Elangovan. Naturally, the headline was irresistible: a senior AMD engineer using AI to produce a new GPU driver? Shocking! But the reality is more technical and less radical; what he built is not a replacement for the company's real drivers. Instead, it's essentially a lightweight driver test harness designed to poke directly at AMD's Linux GPU interfaces. Modern Radeon GPUs on Linux normally run through a fairly deep software stack built around ROCm. Applications talk to ROCm libraries, which in turn talk to user-space runtimes, and eventually commands flow into the kernel's AMDGPU driver. Elangovan's project cuts through a large chunk of that stack. The Python code communicates directly with the kernel driver via device nodes such as/dev/kfd and /dev/dri/render*. From there, it can allocate GPU memory, create compute queues, submit command packets, and synchronize CPU and GPU work. In other words, it reaches down to the lowest public layer of AMD's compute interface. (Image credit: Future) That sounds more dramatic than it is; the kernel driver (which is not replaced or affected here) still does almost all the heavy lifting. The Python layer simply constructs the command packets and sends them through the existing kernel APIs. As an analogy, it's kind of like using a laptop to temporarily replace the engine controller in your project car. It's not something you'd use long-term, but it's a very helpful diagnostic tool. The point is to interact with the hardware in a very controlled way without the rest of the ROCm software stack in the middle. Obviously, that makes the project useful for debugging and experimentation. Engineers can isolate bugs in ROCm or test specific GP...

The global race to build and deploy artificial intelligence is moving faster than most people realize. Nvidia has become one of the most valuable companies in the world, on the back of surging chip demand. Worldwide AI spending is projected to hit $2.5 trillion in 2026, according to Gartner. Wall ...

Taiwan Semiconductor Manufacturing (TSM 4.37%), popularly known as TSMC, is a key player in the global artificial intelligence (AI) infrastructure ecosystem, manufacturing chips for all the major companies that design AI chips. This explains why TSMC stock has delivered healthy gains of 104% to investors over the past year, significantly outperforming the S&P 500's 15% gain over the same period. Shares of TSMC are now trading at $370 following the company's stellar surge. But will this foundry giant be able to sustain its momentum and head to $500? TSMC's catalysts suggest that its earnings growth is sustainable TSMC clocked a 51% increase in earnings in 2025, to $10.65 per share, driven by a 36% increase in the top line. The semiconductor bellwether's earnings grew faster than its revenue, driven by impressive pricing power. Expand NYSE : TSM Taiwan Semiconductor Manufacturing Today's Change ( -4.37 %) $ -15.47 Current Price $ 338.39 Key Data Points Market Cap $1.8T Day's Range $ 336.70 - $ 348.69 52wk Range $ 134.25 - $ 390.20 Volume 750K Avg Vol 13M Gross Margin 58.73 % Dividend Yield 0.91 % TSMC is the world's biggest semiconductor foundry with an estimated share of 72% in the pure-play foundry market, according to Counterpoint Research. Meanwhile, the company estimates that it controls just over a third of the Foundry 2.0 market, which includes chip packaging, testing, and other verticals in addition to the pure foundry business model. However, Counterpoint Research estimates that TSMC's share of the Foundry 2.0 market stood at 39% in the third quarter of 2025, up six percentage points from the prior year. TSMC leads this space as well, with the second-place company holding just 6%. Moreover, TSMC's Foundry 2.0 rivals are growing at a much slower pace. TSMC's strong presence in this market gives it robust pricing power. The company is anticipated to increase the prices of the chips it manufactures for clients such as Nvidia, Advanced Micro Devices, Broadcom, Qu...

十四屆全國人大四次會議，今早十時舉行外交主題記者會，由中共中央政治局委員兼外長王毅回答中外記者提問，無綫新聞APP及網站將會直播。

Is Taiwan Semiconductor Stock Going to $500? Nasdaq

Key Points TSMC has been a top performer on the stock market in the past year, and that trend is likely to continue. The company's influence over the global foundry market gives it immense pricing power. Its stock could easily hit $500 and rise further in the long run due to the secular growth opportunity. 10 stocks we like better than Taiwan Semiconductor Manufacturing › Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC, is a key player in the global artificial intelligence (AI) infrastructure ecosystem, manufacturing chips for all the major companies that design AI chips. This explains why TSMC stock has delivered healthy gains of 104% to investors over the past year, significantly outperforming the S&P 500's 15% gain over the same period. Shares of TSMC are now trading at $370 following the company's stellar surge. But will this foundry giant be able to sustain its momentum and head to $500? Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » TSMC's catalysts suggest that its earnings growth is sustainable TSMC clocked a 51% increase in earnings in 2025, to $10.65 per share, driven by a 36% increase in the top line. The semiconductor bellwether's earnings grew faster than its revenue, driven by impressive pricing power. TSMC is the world's biggest semiconductor foundry with an estimated share of 72% in the pure-play foundry market, according to Counterpoint Research. Meanwhile, the company estimates that it controls just over a third of the Foundry 2.0 market, which includes chip packaging, testing, and other verticals in addition to the pure foundry business model. However, Counterpoint Research estimates that TSMC's share of the Foundry 2.0 market stood at 39% in the third quarter of 2025, up six percentage points from the prior year. TSMC leads this space as well, with the ...

As the earnings season winds down, investors are turning their attention to updated quant ratings following the latest round of corporate results. The scores provide a snapshot of how companies rank across key factors such as valuation, growth, profitability, momentum, and revisions after reporting their quarterly performance. Below is a snapshot of small-cap industrial companies with market capitalizations between $30M and $2B, highlighting those with the highest and lowest quant ratings after the earnings season, underscoring the stocks that strengthened their fundamentals as well as those that lagged behind. Among the highest SA quant-rated companies: Innovative Aerosystems ( ISSC ), Quant Rating: 4.98, Strong Buy. Seanergy Maritime Holdings ( SHIP ), Quant Rating: 4.90, Strong Buy. China Yuchai International ( CYD ), Quant Rating: 4.84, Strong Buy. Great Lakes Dredge & Dock ( GLDD ), Quant Rating: 4.83, Strong Buy. Allegiant Travel ( ALGT ), Quant Rating: 4.82, Strong Buy. Among the lowest SA quant-rated companies: Terrestrial Energy ( IMSR ), Quant Rating: 1.03, Strong Sell. CBIZ ( CBZ ), Quant Rating: 1.12, Strong Sell. Fiverr International ( FVRR ), Quant Rating: 1.14, Strong Sell. TriNet Group ( TNET ), Quant Rating: 1.16, Strong Sell. Terra Innovatum Global N.V. ( NKLR ), Quant Rating: 1.17, Strong Sell. More on Terrestrial Energy Inc., CBIZ, etc. CBIZ, Inc. 2025 Q4 - Results - Earnings Call Presentation CBIZ, Inc. (CBZ) Q4 2025 Earnings Call Transcript China Yuchai International Limited (CYD) Q4 2025 Earnings Call Transcript CBIZ targets 2%–5% revenue growth in 2026 as integration and AI drive strategic priorities Top Quant ranked small cap stocks with positive EPS surprises

Nobody, not even the greatest investors in history, can predict the future. All anyone can do is look at where a stock has been and infer where it's headed. I can't tell you which stocks will 10X in the next 10 years but I can tell you about three great stocks that have the potential to. Each one has growing revenue, very high profitability, and smart management of its balance sheet. And even if one or all of these stocks don't 10X by 2036, I don't think you'll be disappointed looking back at your return on them in 10 years' time. 1. Let's go racing Up first is one that might surprise you: Ferrari (RACE 2.21%). The luxury car manufacturer known for building some of the most beautiful speed machines to grace the roads for the past several decades is also one of the most profitable companies in the auto industry. It's up 81% over the past five years. And despite an 18% dip in the last year, Ferrari is still going strong based on its latest results and I expect further growth in the future. For the whole of 2025, Ferrari brought in net revenue of 7.1 billion euros, up 7% year over year. Operating profit for the year totaled 2.1 billion euros, up 12% over 2024 and good for an operating margin of 29.5%. That's far and away the best profit margin in the auto industry. Toyota, with the next highest profit margin in the industry, has an operating margin of 8.5% right now. General Motors is sitting at 1.57% and Volkswagen is at 4.62%. The company's net profit came in at 1.6 billion euros for 2025, up 5% over 2024 and its diluted earnings per share (EPS) grew 6%. And in an industry that typically runs a high debt load, Ferrari has a manageable net debt position of 1.4 billion euros and a debt to equity ratio of 0.74. For comparison, Volkswagen carries a debt to equity ratio of 0.96 and General Motors is sitting at 2.08. Ferrari's dip over the past few months looks far more like a "buy-the-dip" opportunity than the beginning of its decline. It's definitely worth a look. Expand...

U.S. Military-Industrial Complex Agrees To Quadruple Bomb Production As Operation Epic Fury Rages On U.S. Central Command said late Friday on X that U.S. forces struck 3,000 IRGC targets with air-delivered munitions during the first week of Operation Epic Fury, signaling that the campaign is only intensifying as it moves into next week. U.S. forces have struck over 3,000 targets in the first week of Operation Epic Fury, and we are not slowing down. pic.twitter.com/Nqn30feTQA — U.S. Central Command (@CENTCOM) March 7, 2026 President Trump wrote on Truth Social Friday that he would not accept a negotiated end to the war with Iran, suggesting the conflict could drag on for some time. "There will be no deal with Iran except UNCONDITIONAL SURRENDER!" he said. We have reported that U.S. inventories of some critical munitions are running low, with U.S. forces scrambling for supplies of key air-defense interceptors as IRGC missiles and drones continue to target American and allied bases across Gulf states. Dwindling supplies of critical munitions are being amplified by Ukraine's continued need for interceptors amid relentless Russian missile and drone barrages, a major problem that likely prompted President Trump to host top U.S. defense manufacturers to discuss accelerating missile and bomb production. "We just concluded a very good meeting with the largest U.S. Defense Manufacturing Companies where we discussed Production and Production Schedules," Trump said on Truth Social late Friday afternoon. Trump said the CEOs of BAE Systems, Boeing, Honeywell Aerospace, L3Harris Missile Solutions, Lockheed Martin, Northrop Grumman, and Raytheon were all in attendance and "agreed to quadruple" weapons production. "They have agreed to quadruple Production of the 'Exquisite Class' Weaponry in that we want to reach, as rapidly as possible, the highest levels of quantity. Expansion began three months prior to the meeting, and the plants and Production of many of these Weapons are alrea...

Firms including Boeing, Coca-Cola, and Procter & Gamble witnessed insider transactions this week. The following is a list of transactions that occurred between March 2 and March 6. Exxon Mobil’s ( XOM ) VP of Corporate Strategic Planning, Darrin Talley , sold 2,150 shares at $157.80 per share for a total of $339,313. He continues to hold 283,470 shares of the firm. Several insiders at Coca-Cola ( KO ) sold their holdings in the company this week. Chairman and CEO James Quincey disposed of 250,688 shares in the price range of $79.0 to $79.14 per share for a total value of $19.84M. Quincey continues to own 331,777 shares. Executive Vice President Nancy Quan sold 23,556 shares for $1.87M, retaining 229,070 shares, while Bruno Pietracci , president of Latin America operations, sold 28,765 shares at $79.41 per share for $2.28M, reducing his holdings to 44,608 shares. Procter & Gamble’s ( PG ) CEO of Baby, Feminine & Family Care, Fatima Francisco , let go of 5,549 shares in the price range of $165.29 to $165.32 per share for a total of $917,199, leaving her with 32,797 shares. At Lam Research ( LRCX ), Chief Legal Officer Ava Harter sold 1,500 shares at $222.70 per share for $333,990, bringing total holdings to 53,205 shares. Warner Bros. Discovery ( WBD ) director Richard Fisher sold 16,345 shares at $28.31 per share, generating proceeds of $462,727 and retaining 70,479 shares. Boeing ( BA ) director Mortimer Buckley purchased 2,230 shares at $224.20 per share, amounting to $499,966, increasing his total holdings to 4,430 shares. SoFi Technologies ( SOFI ) CEO Anthony Noto bought 56,000 shares at $17.88 per share for a total value of $1M, bringing his stake to 11.67M shares. The Trade Desk ( TTD ) President and CEO Jeffrey Green bought 6M shares for a total value of $148M. Separately, he also acquired 398,089 as part of a restricted stock award. Cumulatively, Terry now owns 6.95M shares of the firm. At MercadoLibre ( MELI ), SVP and Chief Accounting Officer Marcelo Melam...

Donald Trump handed Vladimir Putin a financial lifeline last week when he waived a ban on India buying Russian oil for 30 days. Trump found himself in a furious row last year with Narendra Modi over his country’s oil deals with Moscow, only for fences to be partly mended when India’s biggest importer later capitulated. Now we find the power of oil as an instrument of geopolitical power is again to the fore. It suits the US president to ease up on sanctions against Russian oil purchases to keep the global oil price down. Trump knows that high prices at the pump could send his popularity to fresh lows and believes that allowing more Russian oil into the global system will limit the extent of an Iran-induced petrol price spike. Putin’s regime survives on the hard currency provided by oil revenues. His gas business makes only small sums by comparison. And Russia has little else to sell. Sanctions, after four years of incremental, step-by-step policymaking since Russia’s full-scale invasion of Ukraine, have acted like a tourniquet on the Russian economy. An example of the difficulties faced by Putin came last week from regional figures showing the central state has disguised its debts by shoving them on to the books of local entities. Even the city of Moscow, the centre of Russia’s wealthiest region, admitted that this year it will need to cut its investment programme for the first time since the Covid pandemic. Investments this year will be cut by 10%, and 15% of municipal staff must go. It’s a measure of how well sanctions have begun to work that Russian public authorities can no longer deny the impact on spending. The White House can take credit for some of the most severe sanctions. Last autumn, the US froze the assets of leading Russian oil companies Rosneft and Lukoil, adding that foreign banks and shipping organisations that help Russian oil tankers “may face secondary sanctions”. Then, in January, the US coastguard tracked one of the 450-plus tankers in a “shadow...

据伊朗伊斯兰革命卫队7日发布的消息，一名伊朗专家会议成员称，选举伊朗最高领袖的会议将在未来24小时内举行。伊朗专家会议成员阿亚图拉·穆扎法里表示，目前专家会议成员正在等待条件成熟，以便审慎地选举新任最高领袖。穆扎法里说，截至目前有关会议和选举还没有公开举行，呼吁民众不要轻信谣言。伊朗专家会议是负责选举、监督、罢黜伊朗最高领袖的最高权力机构。（央视） 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

As the earnings season winds down, investors are turning their attention to updated quant ratings following the latest round of corporate results. The scores offer a snapshot of how companies rank across factors such as valuation, growth, profitability, momentum, and revisions after reporting quarterly performance. Below is a snapshot of small-cap financial stocks with market capitalizations between $300 million and $2 billion, highlighting those with the highest and lowest quant ratings after the earnings season, underscoring the companies that strengthened their fundamentals as well as those that lagged. Among the highest SA quant-rated companies, all having a Strong Buy rating are Saratoga Investment ( SAR ), Quant Rating: 4.87. AGF Management ( AGFMF ), Quant Rating: 4.87. EZCORP ( EZPW ), Quant Rating: 4.86. Universal Insurance Holdings ( UVE ), Quant Rating: 4.77. Noah Holdings ( NOAH ), Quant Rating: 4.77. Among the lowest SA quant-rated companies, all having a Strong Sell rating are Coincheck Group N.V. ( CNCK ), Quant Rating: 1.04. Goosehead Insurance ( GSHD ), Quant Rating: 1.22. Root ( ROOT ), Quant Rating: 1.28. Ridgepost Capital ( RPC ), Quant Rating: 1.32. Kemper ( KMPR ), Quant Rating: 1.40. More on Saratoga Investment, AGF Management Limited, etc. Kemper Corporation (KMPR) Presents at 47th Annual Raymond James Institutional Investor Conference Transcript Root: Growing But Volatile Auto Insurtech Play Universal Insurance: Fundamentals Sound And Intact, But Technical Caution Remains A Consideration Most and least shorted financial stocks with up to $2B market cap in early March Root outlines 2026 strategy to accelerate PIF growth and expand to all contiguous states by 2027

Not sure how this got missed last week! Making up for time, now you get TWO episodes packed into 1 week! Intel might go back to a unified arch, Acer threatens people to buy now or else, and that Discord thing continues. Oh, and that Nvidia money train just keeps on rolling, plus more 12VHPWR woes. Do take a listen / look at the Moza R5 virtual driving gear bundle though, very nice. This show cannot go on without you – you know who you are, please consider helping our efforts. It most definitely helps keep us on the air. And helps Josh buy burgers. Thank you!

Welcome to The Brink . We’re Lars Paulsson and Giulia Morpurgo , and we’ve been reporting on the cash crunch at Stegra, a green steelmaker based in Sweden. We also have news on MFS, Conair, and confidential oil contracts in Venezuela. Follow this link to subscribe . Send us feedback and tips at debtnews@bloomberg.net . Cash Crunch Time is running out for green steelmaker Stegra . The Swedish startup has just weeks before it runs out of cash, forcing it into an urgent search for roughly €1 billion in fresh equity while it seeks to unlock billions more in previously secured credit lines . The six-year-old company needs funding to complete what it has billed as the world’s largest green steel plant in northern Sweden. Without a solution by the end of March, the project risks stalling at a critical stage. Stegra has been in talks with both existing shareholders and potential new investors since October, when it disclosed that it required additional capital to complete the project. While some current backers have agreed to participate in the latest funding round, commitments so far fall short of the target. The company is now widening its search for new equity partners to close the gap. At the same time, the company is negotiating with banks to access more than €4 billion in credit lines that have been committed in recent years but not fully drawn. Those facilities are tied to specific conditions and construction milestones that the company has yet to meet. Discussions are ongoing, and the outcome remains uncertain. The funding squeeze underscores a broader shift in investor sentiment toward capital-intensive green industrial projects. Sweden’s Northvolt , once seen as Europe’s best hope for building a domestic battery supply chain, went bankrupt last year after failing to secure sufficient backing, prompting criticism of the government for declining to step in. Both companies are emblematic of Europe’s push to build domestic industrial champions at scale, and both relie...

Get ahead of the market by subscribing to Seeking Alpha's Wall Street Week Ahead, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations. The stock market was deep in the red on Friday, as the nonfarm payrolls unexpectedly contracted in February. The U.S. nonfarm payrolls: -92K vs. +60K consensus and +126K prior (revised from +130K), according to data released by the Bureau of Labor Statistics on Friday. Unemployment rate: 4.4% vs. 4.4% consensus and 4.3% prior. Oil prices topped $80/bbl on Thursday as investors weighed escalating geopolitical tensions in the Middle East and rising oil prices following military confrontations between the U.S. and Iran. With only a few major companies reporting their earnings, investors will turn their attention to major economic indicators releasing next week. Existing home sales data for February will be released on Tuesday. CPI data for the month is due on Wednesday, with initial jobless claims data releasing on Thursday. Prelim GDP, core PCE price index and JOLTS job openings will be out on Friday. Oracle, Adobe, and Hewlett Packard are among the companies reporting their results next week. _______________________________________________________________ Earnings spotlight: Monday: Hewlett Packard ( HPE ). See the full earnings calendar . Earnings spotlight: Tuesday: Oracle ( ORCL ), BioNTech ( BNTX ). See the full earnings calendar . Earnings spotlight: Thursday: Adobe ( ADBE ), Alibaba Group ( BABA ). See the full earnings calendar . Volatility watch: IREN ( IREN ) and Xenon Pharmaceuticals ( XENE ) are set up for a volatile week of trading based on options volume. The most overbought stocks per their 14-day relative strength index include White Pearl Acquisition ( WPAC ), Peakstone Realty Trust ( PKST ), and Archrock ( AROC ). The most oversold stocks per their 14...

Torsten Asmus/iStock via Getty Images I previously covered Petróleo Brasileiro S.A. - Petrobras ( PBR ) in January 2026, discussing why I had reiterated my Buy rating then, thanks to the management's relatively successful mitigation efforts across the volatile spot prices, the challenging macroeconomic/geopolitical environment, and the reasonable 5Y investment plan. In this article, I shall discuss why I am reiterating my Buy rating for the PBR stock, despite the potential volatility from the ongoing Iran conflict and the stock's overstretched technical indicators. My optimism is attributed to PBR's rich dividend investment thesis, thanks to the stock's discounted valuations arising from its state run status, their low, capex breakeven costs, the growing production capacity from the higher capex trends, and the currently elevated Brent spot prices. PBR Stands To Benefit From The Higher Spot Prices PBR 1Y Stock Price (Trading View) Since my last Buy rating, PBR has outperformed beyond expectations with a +40% stock price rally, with a similar trend also observed in its US-based oil/gas peers in varying degrees. Much of their tailwinds are attributed to the rising Brent oil spot prices from $58s per barrel in early January 2026 to $91s per barrel by the time of writing, given the geopolitical unrest in Venezuela in early January 2026 and the " major combat operations in Iran " in late February 2026. These are unsurprising developments indeed, since Venezuela comprises " 9% of the world's 9 million bbl/d of heavy crude oil production" and Iran at " 4% of global oil production ," with the ongoing volatilities potentially triggering an impacted demand supply cadence in the intermediate term. With the US president already warning the war against Iran may "stretch on for four to five weeks or longer" and the consequent, near-total shutdown of traffic through the Strait of Hormuz (transporting 20% of the world's oil and LNG supplies ), it is unsurprising that market analyst...

Microsoft (NASDAQ: MSFT) is committing over $100 billion to AI infrastructure, and the market is questioning whether this is visionary or excessive. If Azure monetization accelerates and Maia improves inference economics, the long-term compounding story strengthens dramatically. But if spending outpaces returns, volatility could test investor conviction in 2026 and beyond. Stock prices used were the market prices of March 2, 2026. The video was published on March 6, 2026. Continue reading

本期内容提要: 行情回顾：截至3月6日收盘，本周环保板块下跌1.41%，表现劣于大盘；上证综指下跌0.93%到4124.19；涨跌幅前三的行业分别是石油石化（8.1%）、煤炭（3.8%）、公用事业（3.4%），涨跌幅后三的行业分别是传媒（-7.0%）、有色金属（-5.5%）、计算机（-5.3%）。细分子板块情况：水务板块下跌0.41%；水治理板块下跌2.50%；大气治理板块上涨2.24%；环卫板块下跌3.73%；垃圾焚烧板块上涨2.10%；资源化板块上涨4.09%；固废其他板块下跌0.95%；监测/检测/仪表板块下跌5.06%；环境修复板块下跌5.57%；环保设备板块下跌2.39%。 行业动态：（1）国务院总理李强5日在政府工作报告中介绍今年政府工作任务时提出，加快推动全面绿色转型。以碳达峰碳中和为牵引，协同推进降碳、减污、扩绿、增长，增强绿色发展动能。要加强生态环境综合治理，大力发展绿色低碳经济，积极稳妥推进碳达峰碳中和。（2）为推动工业领域生态文明建设，规范生态工业园区的建设和运行，生态环境部批准发布《生态工业园区建设标准》国家生态环境标准。本标准规定了生态工业园区的评价方法、评价指标和数据采集与计算方法等内容。本标准首次发布于2006年，2015年第一次修订，本次为第二次修订。 本周专题：2025年我国航空煤油出口量超过2000万吨。根据金联创发布，2025年1-12月份，中国HVO&SAF出口总量92.28万吨，同比增长41.87万吨或74.24%。2025年12月29日，中国国务院关税税则委员会发布《关于2026年关税调整方案的公告》，明确为生物航空煤油（SAF）、烃基生物柴油（HVO）等绿色能源产品增列专属税则号列，标志着我国在推动航空能源绿色转型、构建现代化产业体系的政策布局上迈出关键一步。价格方面：开年以来，SAF价格保持平稳，UCO价格有所回升。截至2026年3月6日，欧洲SAF-FOB价格达2335-2350美元/吨，国内SAF-FOB价格达2100-2200美元/吨，较2025年底价格有所回落但仍高于去年同期水平。餐厨废油价格在7450-7800元/吨之间，较2025年底价格有所回升。 投资建议：“十四五”国家对环境质量和工业绿色低碳发展提出更多要求，节能环保以及资源循环利用有望维持高景气度；此外在化债背景下，水务&垃圾焚烧板块作为运营类资产，...

涛涛车业(301345) 报告内容摘要: 涛涛车业是全球电动低速车行业龙头，全球化布局深筑竞争壁垒。公司专注“新能源智能出行”，聚焦智能电动低速车和特种车品类；其中，智能电动低速车贯彻“产品矩阵拓展、渠道生态深耕、品牌价值跃迁”的核心战略，凭借美国本土化的制造与渠道优势，着力打造从研发、生产、销售、服务的全价值链垂直整合竞争力，自布局北美市场以来实现迅猛突破，两年内强势跻身北美市占率前列，彰显强劲市场穿透力。2018-2024年公司收入/利润CAGR分别为30.0%/49.2%，抓住品类出海机遇实现快速成长；25Q1-Q3公司面对海外贸易政策波动，积极推动全产业链全球布局，规模效应凸显，实现收入/利润同比分别+24.9%/+101.3%，增长靓丽。 电动高尔夫球车：全球市场有望持续增长，公司全球化布局领先，优势突出。全球电动低速车（LSEV）市场正处高速扩张阶段，根据弗若斯特沙利文，全球电动低速车市场规模预计从2022年7亿美元增长至2025年18亿美元，2022-2025年CAGR高达37%，预计2029年有望进一步攀升至43亿美元；分区域看，北美成熟度最高，其次是欧盟、日韩。纵观产业链，上游供给环节，美国电动高尔夫球车进口正从中国向越南等地区切换；中游品牌格局，市场份额较集中，CR5达到60%左右，核心市场美国“双反”等重大变化或催生企业机会；下游消费场景，高尔夫球场内需求稳定，球场外占比略高且增量明显。涛涛车业核心优势在于全球化布局领先，2025年年中左右便已实现越南工厂满产，美国、泰国工厂2026年也将陆续投产，有望持续扩大市场份额；此外，公司品牌矩阵完备，以DENAGO与TEKO双品牌驱动，多元化营销手段效果良好，打造立体化渠道体系，海外布局快速推进。 全地形车：全球市场具备结构性机遇，公司扩张产品矩阵促增长。根据Polaris公司年报，近年全球全地形车年销量保持在95-100万台水平，基本趋于稳定，北美地区占比保持80%-85%，是全球核心消费区域；品牌格局方面，海外品牌占主导，国产品牌快速发展。细分品类层面，根据Polaris预测，行业内部存在结构性变化，ATV占比持续下降，从2017年45%降至2024年35%，而UTV占比持续提升，成为行业内最大品类。涛涛车业发力全球市场攻坚与渠道突破，筹备UTV产品聚焦北美市场，小排量ATV则以DENAGO品牌进...

思瑞浦(688536) 事件 公司发布2025年业绩快报，2025年公司实现营业收入21.42亿元，较上年同期增长75.65%；归母净利润1.73亿元。 投资要点 高景气赛道放量、创芯微整合协同及降本增效，盈利弹性充分释放。公司通过并购创芯微实现深度业务整合，完成工业、汽车、通信、消费电子四大下游市场全覆盖，产品矩阵进一步丰富，与各领域头部客户合作深度与场景广度显著拓展，2025年全年营收同比+75.65%，Q4单季约6.11亿元，qoq+5.05%，连续7个季度环比增长。同时，公司推行全面预算管理，优化研发资源配置，费用管控精细化落地。在营收高增与降本增效双重驱动下，盈利弹性充分释放，2025年实现归母净利润1.73亿元，同比大幅增加3.70亿元。 光模块市场业务持续增长。公司的光模块控制芯片主要用于激光器和调制器的电压、电流偏置，并对输出电压、电流进行监控，同时提供通用ADC采样、GPIO复用等功能，具备小体积和高集成度等特点，提供EML、硅光等不同光模块方案中需要的电流DAC、电压DAC和ADC功能，支持400G、800G、1.6T光模块的设计需求。2025年公司的光模块市场业务继续增长，其中AFE产品在光模块市场领域份额提升；在通用及AI服务器市场，公司I3C、多路电流和功率采集等新产品开始陆续出货。 盈利预测 我们预计公司2025/2026/2027年营收分别为21.4/28.8/35.4亿元，归母净利润分别为1.7/3.2/4.5亿元，维持“买入”评级。 风险提示： 技术迭代和研发投入不及预期风险；市场竞争加剧风险；行业周期性波动风险。

壹连科技(301631) 投资要点： 公司专注电连接领域三十余载，技术经验丰富，产品应用领域由最初的传统汽车不断向新能源汽车、储能、工业等领域拓展。公司主要产品包括电芯连接组件（CCS）、动力传输组件、低压信号传输组件和柔性线路板（FPC）四大类。2025H1公司在电芯连接组件/低压信号传输组件/动力传输组件/FPC业务方面分别实现营收12.2/5.9/2.4/0.2亿元。2024年，上述四大业务分别实现营收23.3/11.2/4.0/0.3亿元，在总营收中占比分别为59.5%/28.6%/10.2%/0.8%，同比分别+0.7pct/+0.7pct/-1.5pct/+0.2pct，电芯连接组件在总营收中占据主导地位。从分业务毛利率来看，电芯连接组件毛利率最高且较稳定，FPC毛利率有望改善。多元化的业务布局可以有效提升公司面临行业周期性波动时的抗风险能力，有利于中长期更均衡、更稳健的发展。 新能源汽车是电连接组件的主要应用领域，随着新能源渗透率持续提升，预计整车高压架构升级及智能化演进将为电连接组件市场带来发展机遇。据交强险数据，2020-2024年，我国新能源乘用车销量由100.7万辆提升至1074.1万辆，CAGR为80.7%，对应渗透率由5.3%提升至47.2%，累计+41.9pct，同期动力电池装车量由63.6GWh提升至548.5GWh，CAGR为71.3%。800V高压架构的应用对电连接组件集成性、精密度以及规格用料都提出了更高要求。预计随着整车高压架构升级和智能化持续演进，电连接组件生产企业或将通过更高效的集成方案和更精密的技术设计获得更高溢价。 海内外储能需求共振，为电连接组件开辟增量市场。国内储能需求持续增长，2025年招标和备案数亮眼，2026年装机有望维持高增长。从招标数据来看，根据中关村储能产业技术联盟统计，国内2025年1-11月储能EPC和储能系统招标累计规模有271.1Gwh，同比增长73%。欧美储能市场维持高增，AIDC需求带来增量市场，新兴市场快速增长，能源转型目标和可再生能源激励政策推动需求高速增长。快速增长的储能、AIDC、5G基站等新兴应用场景落地，有望为电连接组件带来增量需求。 盈利预测与评级：我们预计公司2025-2027年归母净利润分别为3.08/4.33/5.63亿元，同比增速分别为+31.90%/+40.95%/+2...

风华高科(000636) 投资要点 AI驱动高端转型，构筑发展新引擎。公司已形成智能终端、工控、汽车电子、家电四大核心市场布局，同时持续深耕并大力开拓AI算力、低空经济、储能等新兴应用领域，通过持续加大研发投入、优化产品结构，推动高端品与特殊品占比稳步提升，加速企业高端化转型。当前AI技术驱动电子信息产业迎来全方位革新，AI应用正由软件端逐步向端侧延伸，一方面终端换机需求直接拉动全球电子元器件需求增长，另一方面AI深度应用推高终端算力与功耗需求，带动MLCC、电阻器、电感器等电子元件单机搭载量显著提升，行业整体需求有望稳步增长。公司聚焦AI算力核心赛道，以市场为导向加快产品研发，着力培育新的业绩增长点，现已导入国内AI服务器头部客户供应链并持续加深合作。 产品进度稳步推进，市场开拓成效凸显。AI算力方面，公司快速响应下游需求，针对性推出系列适配产品：MLCC领域，公司推出IM、AE、AM、AS等全系列片式陶瓷电容，具备低等效串联电阻、中高压环境供电稳定及105℃以上高温长期可靠性等特点，广泛应用于AI服务器多相供电模块；合金电阻领域，布局MF、MI、MT、MG、MS等系列产品，凭借超低阻值、低温漂及高功率密度特性，精准匹配AI基础设施大功率、高电流、高密度发展趋势，可满足高功耗、高精度电流检测及高集成主板等不同场景需求；电感器领域，推出新一代热压工艺TLVR电感，采用先进金属磁性材料与超高压热压平台，相较传统电感体积更小、电流承载更高、直流电阻更低，契合高功率密度算力服务器发展趋势。汽车电子业务方面，公司主营产品均完成AEC-Q200车规级认证与IATF16949车用体系认证，车规品已从车载周边渗透至电驱、BMS、OBC、电控等车身核心关键系统，推出几十余款车规级被动元器件产品系列，物料规格与交付能力持续提升，下游覆盖整车厂及Tier1厂商，并成功开拓欧洲、日本、韩国等海外Tier1客户供应链，全球化布局持续推进。 投资建议 我们预计公司2025/2026/2027年分别实现收入58/69/79亿元，实现归母净利润分别为3.6/4.9/6.4亿元，维持“买入”评级。 风险提示 行业及市场变动风险；市场竞争加剧风险；供应链成本上行风险；涨价不及预期风险；产能释放延迟风险；下游需求不及预期风险。

微导纳米(688147) 投资要点： 以ALD技术为核心，半导体设备量产加速。公司成立于2015年，专注于微纳薄膜装备研发制造，形成了以原子层沉积（ALD）技术为核心，化学气相沉积（CVD）等多种真空薄膜技术梯次发展的产品体系，产品领域不断拓宽。2020-2024年，公司营业收入持续增长，2025Q1-Q3营收为17.22亿元，同比增长11.48%，归母净利润为2.48亿元，同比增长64.83%，营收增长主要系多款半导体设备量产加速以及新产品推出，半导体新增订单金额创新高。 半导体薄膜沉积设备持续成长，微导纳米实现技术引领。全球半导体薄膜沉积设备持续增长，根据MaximizeMarketResearch数据统计，预计到2025年市场规模可达340亿美元；先进制程产线和存储芯片层数增长拉动下，中国薄膜沉积设备行业保持高成长性。公司作为国内半导体薄膜沉积设备领域的技术引领者，ALD设备已覆盖行业主流薄膜材料及工艺，在高介电常数材料、金属化合物薄膜等领域实现产业化应用，量产规模稳步扩大；CVD设备在硬掩膜等关键工艺领域实现产业化突破，成功进入存储芯片等领域先进器件量产生产线，并持续推出满足客户需求的关键工艺设备。 光伏薄膜沉积设备应用场景丰富，微导纳米布局多种技术路线。薄膜沉积设备广泛用于光伏电池生产。公司为客户提供具有竞争力的ALD、PECVD、PEALD、扩散退火等多种定制化产品和TOPCon整线工艺解决方案，已成为行业内提供高效电池技术与设备的领军者之一。根据公司2024年年报，公司TOPCon整线工艺技术目前已升级至SMARTAEP®TOPCon3.0版本，进一步巩固了在TOPCon技术领域的领先地位；在XBC、钙钛矿及钙钛矿叠层等电池技术领域均已建立了完善的技术储备、能够覆盖电池生产整线的关键工艺设备。 盈利预测与评级：我们预计公司2025-2027年归母净利润分别为2.13、4.13、6.04亿元，同比增速分别为-6.12%、93.97%、46.41%，当前股价对应的PE分别为172、88、60倍。我们选取帝尔激光、北方华创、拓荆科技为可比公司，2025-2027年平均PE分别为63、44、34倍，鉴于公司持续丰富产品矩阵，不断引领原子层沉积技术创新，首次覆盖，给予“增持”评级。 风险提示。研发投入未能有效转化、新产品验证进度及市场发展不及预期、国内市场竞争加...