Market Performance - As of February 10, US stock indices showed mixed performance, with the Dow Jones Industrial Average rising by 0.7% to reach a new high, while the Nasdaq and S&P 500 indices turned positive with increases of 0.09% and 0.2% respectively [1] - The Philadelphia Semiconductor Index experienced a significant drop, falling over 1% at one point, while major tech stocks showed varied performance, with Google down over 2% and Nvidia and Meta also declining, whereas Tesla, Microsoft, and Amazon saw gains [1] Company Specifics - Alphabet, Google's parent company, has initiated its first bond issuance in Swiss Francs, including bonds with maturities of 3, 6, 10, 15, and 25 years, and is also launching its first bond issuance in British Pounds with maturities of 3, 6, 15, 32, and 100 years, both expected to be priced later the same day [3] - In the tech sector, TSMC (Taiwan Semiconductor Manufacturing Company) saw its stock rise by 1.49%, reaching a new high, while other companies like Alibaba and Oracle also reported gains of 1.95% and 3.24% respectively [2][3] Economic Commentary - Former President Trump expressed optimism about the stock market, predicting that the Dow Jones Industrial Average will reach 100,000 points by January 2029, attributing the market's rise to his tariff policies [5] - In contrast, Ray Dalio, founder of Bridgewater Associates, warned of a potential collapse in the US economy, citing significant debt imbalances and suggesting that investors should allocate 5%-15% of their portfolios to gold as a hedge against currency devaluation [6]

格隆汇2月10日｜奈飞涨超3%，迪士尼涨近3%，甲骨文、赛富时涨超2%，微软、台积电涨近2%，特斯 拉涨超1%。 ...

每经AI快讯，2月10日，美股明星科技股多数上扬，奈飞涨超3%，迪士尼涨近3%，甲骨文、赛富时涨 超2%，微软、台积电涨近2%，特斯拉涨超1%。 ...

Core Insights - Oracle Corporation (ORCL) experienced a nearly 10% share price increase on February 9 following an upgrade to 'Buy' by D.A. Davidson, amidst a broader tech sector selloff that resulted in a loss of nearly $1 trillion [1][8] Group 1: Upgrade Rationale - Analyst Gil Luria of D.A. Davidson upgraded Oracle, maintaining a price target of $180, citing a market overreaction to a recent 25% drop in Oracle's share price and stabilizing sentiment regarding Oracle's AI exposure [3] - The improved outlook for OpenAI, a significant Oracle cloud customer, was another key factor for the upgrade, with Luria estimating OpenAI's cash reserves at around $40 billion and potential fundraising of $100 billion, which is crucial for financing Oracle's data centers [4] Group 2: Future Growth Potential - Oracle's Cloud Infrastructure (OCI) revenues grew 66% year-over-year in the fiscal second quarter, with GPU-related revenues increasing by 177%, indicating strong growth in cloud services [5] - The company's remaining performance obligations (RPO) reached $523.3 billion, a 433% year-over-year increase, driven by contracts with major clients like Meta and NVIDIA, providing a stable revenue outlook [6] Group 3: Investment Considerations - Oracle's capital raise of $50 billion and significant debt levels could introduce volatility, with a trailing 12-month earnings multiple of 27.57, slightly above the industry average of 27.4, and a long-term debt-to-equity ratio of 328.28, significantly higher than the sector average of 25.35 [7] - Melius Research downgraded Oracle to 'Hold' from 'Buy', citing concerns over its debt load and the expectation of no free cash flow until the 2030s, indicating mixed analyst sentiment [9] Group 4: ETF Exposure - Investors may consider Exchange-Traded Funds (ETFs) for diversified exposure to Oracle, reducing the risks associated with single-stock investments [2][10] - Notable ETFs with significant Oracle exposure include: - iShares Expanded Tech-Software Sector ETF (IGV) with net assets of $7.37 billion, where Oracle holds a 7.30% share [11] - Pacer Data and Digital Revolution ETF (TRFK) with net assets of $453 million, where Oracle holds a 7.20% share [12] - Janus Henderson Transformational Growth ETF (JXX) with net assets of $33.6 million, where Oracle holds a 7.50% share [13] - First Trust NASDAQ Technology Dividend ETF (TDIV) with net assets of $3.80 billion, where Oracle holds a 5.04% share [14]

Core Viewpoint - Oracle Corporation is currently viewed as not investible due to concerns over its balance sheet and business model, particularly in relation to its debt levels and reliance on major clients like OpenAI [1][2]. Financial Health - Concerns have been raised regarding Oracle's balance sheet, specifically its significant borrowing to finance the expansion of data centers [2]. - The stock is currently trading at 26 times earnings, which raises questions about its valuation and future performance [2]. Market Position - There is a belief that while Oracle has potential, other AI stocks may offer better upside potential with less downside risk [3]. - The company is involved in providing cloud and on-premise software, databases, and IT infrastructure, which are critical for business operations [2].

2026.02. 10 本文字数：2009，阅读时长大约4分钟 作者 | 第一财经 冯迪凡 有报道称，美国计划在下一轮芯片关税中豁免亚马逊、谷歌和微软等美国科技巨头，原因是这些企业 正竞相建设推动人工智能（AI）热潮的数据中心。知情人士透露，美国商务部计划为美国本土超大规 模企业提供的关税豁免将与台积电（TSMC）的投资承诺挂钩。 哈佛大学肯尼迪政府学院教授福尔曼（Jason Furman）在近期的一场研讨会上对第一财经记者表 示，一方面，特朗普政府以关税威胁为手段，推动更多美国制造业的发展，另一方面，从截至目前的 发展看，特朗普政府取消威胁、增加关税豁免的案例比收紧关税的案例要多。 牛津经济研究院也在近期针对全球商业人士的风险调查报告中发现，尽管存在地缘政治风险的担忧， 但全球商业界对美国贸易政策全球影响的忧虑已有所缓解，总体而言，企业并未察觉全球增长前景出 现明显变化。 分配豁免额度？ 据新华社报道，美国白宫1月14日发布声明说，美国将从15日起对部分进口半导体、半导体制造设 备和衍生品加征25%进口从价关税。根据白宫公布的事实清单，英伟达公司H200芯片和超威半导体 声明称，此次加征关税依据的是《196 ...

Market Overview - After a significant decline due to concerns over AI replacing software, market sentiment improved this week, with funds beginning to trade oversold conditions. The continued weakening of the dollar also provided additional support for risk assets and gold [1] - The technology sector continued its rebound, with the Nasdaq 100 closing above the critical 100-day moving average. Notably, Oracle surged nearly 10%, and Google announced plans to issue $20 billion in bonds to increase AI spending, reflecting confidence in its long-term competitiveness in the search engine and AI ecosystem [1] Software Sector Analysis - Despite a rebound led by Oracle, the software sector remains below last week's opening highs, indicating that while it may be at a bottom, it has not yet stabilized. The report suggests that internal differentiation within the sector will intensify, and investors should be cautious rather than blindly bottom-fishing [3] - The report highlights that traditional software business models and revenue sources may face significant disruption from generative AI, automation platforms, and alternative tools. Companies with proprietary data and strong AI integration capabilities are likely to benefit [3] Investment Strategy - The market's trading focus shifted from AI builders in the tech sector to value stocks that are short-term beneficiaries of AI, such as DOW, WMT, and FDX, which have seen significant rebounds. The report notes that the most shorted stocks have risen over 11% from last week's lows, indicating a potential clearing of short positions [3] - The adjusted valuations of M7, OpenAI chain, and the software sector provide reasonable entry points for buyers, suggesting a potential return to a risk-on market environment focused on AI and resource hedging [3] Macroeconomic Considerations - The report emphasizes that macroeconomic uncertainties remain high, particularly with the delayed release of January non-farm payroll and the latest CPI data, which could influence market dynamics. Currently, the market appears inclined to maintain a certain level of risk exposure ahead of these data releases [3]

Core Viewpoint - Oracle Corporation is facing a class action lawsuit due to alleged misleading statements regarding its AI infrastructure strategy and its financial implications, leading to significant stock price declines during the class period from June 12, 2025, to December 16, 2025 [1]. Allegations - The lawsuit claims that Oracle's executives made false statements about the company's AI infrastructure strategy, which would lead to increased capital expenditures without corresponding revenue growth [1]. - It is alleged that Oracle's increased spending poses risks to its debt, credit rating, free cash flow, and project funding capabilities [1]. - A warning from S&P Global Ratings indicated that OpenAI could account for over one-third of Oracle's total revenues by fiscal 2028, raising concerns about Oracle's reliance on OpenAI's performance [1]. - Following negative analyst coverage and disappointing financial results, Oracle's stock price experienced significant declines, including a nearly 11% drop after the announcement of second-quarter results for fiscal year 2026 [1]. Financial Impact - On September 25, 2025, Rothschild & Co. Redburn initiated coverage of Oracle with a "Sell" rating and set a price target of $175, indicating a potential 40% decline from its previous price [1]. - Oracle reported negative free cash flow exceeding $10 billion for the second quarter of fiscal year 2026, which was below analysts' expectations [1]. - Delays in the completion of data centers for OpenAI due to labor and material shortages further contributed to concerns about Oracle's revenue growth [1]. - A report on December 17, 2025, indicated that Blue Owl Capital withdrew funding for a $10 billion data center project, exacerbating fears about Oracle's financial commitments and rising debt levels [1].

Microsoft and Oracle may be bargain stocks, according to this analysis - MarketWatch## Tech Stocks# Microsoft and Oracle may be bargain stocks, according to this analysis## Both stocks are relatively cheap on an earnings basis. And the companies have projected revenue growth rates much higher than that of the S&P 500.Published: Feb. 10, 2026 at 8:15 a.m. ETShareResize---Listen(8 min)Oracle and Microsoft are both projected to increase sales rapidly over the next two years, while their stocks are trading at a ...

Oracle Corporation (NYSE:ORCL) is one of the 10 AI Stocks Analysts Are Watching. On February 9, Melius analyst Ben Reitzes downgraded the stock from Buy to Hold while maintaining a price target of $160. The firm is cautious on ORCL, flagging its weak cash generation and AI monetization uncertainty. The firm said that while it admired Larry Ellison’s bold push, it has also cautioned that the road ahead may be difficult. This is because high debt and potential equity raises may weigh on the stock for some ...