An electro-acoustic product, and more particularly to a metal diaphragm and a speaker. The metal diaphragm includes a hemispherical diaphragm portion that is provided with a central convex, a hemispherical diaphragm portion periphery is extended in a horizontal direction and configured to form an annular flat diaphragm portion, a annular flat diaphragm portion periphery is folded toward the convex direction of the hemispherical diaphragm portion and configured to extend away from the hemispherical diaphragm portion to form a trumpet-shaped diaphragm portion; a height of a trumpet-shaped diaphragm outer periphery portion away from the hemispherical diaphragm portion is greater than a height of a top portion of the hemispherical diaphragm portion. Thereby the split distortion of the speaker at high-frequency is reduced to ensure that the metal diaphragm can be normally vibrated to produce sound.