Breakfast | Trump concept stock DJT soared to multiple circuit breakers, EU decides to impose anti-subsidy duties on Chinese electric vehicles

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Nasdaq and gold hit new highs, Trump concept stocks continue to be strong, Bitcoin rises above $73,000

U.S. stocks closed mixed as investors sold off small-cap and blue-chip stocks, and bought technology and semiconductor stocks. The Nasdaq rose over 1% at its highest point during the day, once again hitting a historical high. The S&P 500 index closed up 0.16%, the Dow fell 0.36%, the Nasdaq rose 0.78%, and the Nasdaq 100 index rose 0.98%.

The telecommunications and technology sectors led the gains, while the rest of the sectors declined. Utilities and energy sectors saw the largest declines.

Among the "Tech Big Seven," only Tesla fell. Apple rose 0.12%, Google Class A rose 1.78%, Nvidia rose 0.52%, Amazon rose 1.3%, Microsoft rose 1.26%, Meta rose 2.62%, and Tesla fell 1.14%.

Trump Media & Tech Group (DJT) closed up 8.76%, with multiple trading halts during the day due to excessive volatility.

Chinese concept stocks generally fell after an initial rise, with the Nasdaq Golden Dragon China Index falling by 1.44%. CQQQ fell 0.41%. KWEB fell 0.82%. YINN fell 1.95%, YANG rose 2.03%, DRAG rose 0.15%. JinkoSolar fell 9.6%, JA Solar fell 12.78%, Daqo New Energy fell 22.75%, Li Auto fell 2.44%, ZEEKR fell 8.8%, XPeng fell 4.37%, Nio fell 3.61%, JD.com fell 1.2%, Alibaba fell 0.1%, Pinduoduo fell 0.43%. GAN Technology rose 22.6%.

AI Powerhouse! Google's Cloud Revenue Surges 35% in Q3, Total Revenue Unexpectedly Accelerates, Jumps Over 6% After Hours

Alphabet, Google's parent company, saw a 15% year-on-year increase in total revenue in the third quarter, with EPS profit increasing by nearly 37%, far exceeding expectations. Among all businesses, cloud revenue saw the most rapid growth, with cloud business operating profit increasing more than six times year-on-year, hitting a new quarterly high. Capital expenditures, after nearly a 10% increase in the second quarter, decreased by 0.9%, slightly higher than expected. Advertising revenue in the third quarter increased by over 10%, with revenue from Google Search and YouTube ads slowing for two consecutive quarters but still exceeding expectations. YouTube ad and subscription revenue surpassed $50 billion in a single quarter for the first time in a year. The CEO stated that the multimodal AI assistant Astra will be launched as early as next year, and over 25% of Google's new code is written by AI.

AMD Raises AI Chip Annual Sales Forecast, But Q4 Guidance Disappoints, Falls Over 7% After Hours

Quarterly revenue: $6.82 billion, a new high, up 18% year-on-year and 17% quarter-on-quarter, with market expectations at $6.71 billion and the company's guidance in the range of $6.4 billion to $7 billion.

Net profit: GAAP basis $771 million, up 158% year-on-year; non-GAAP basis $1.5 billion, up 33% year-on-year and 34% quarter-on-quarter, showing a comprehensive acceleration from the previous quarter. Fourth-quarter revenue: expected to be $7.2 billion to $7.8 billion, with a midpoint of $7.5 billion, representing a year-on-year growth of about 22% and a quarter-on-quarter growth of about 10%, analyst expectations were $7.55 billion Non-GAAP gross margin for the fourth quarter: expected to be around 54%.

The EU decides to impose a final anti-subsidy duty on Chinese electric vehicles for five years

The following anti-subsidy duties will be imposed on sampled Chinese export manufacturers: BYD: 17.0%; Geely: 18.8%; SAIC Group: 35.3%. Other cooperative companies will be subject to a 20.7% tariff. After individual review requests, Tesla will be subject to a 7.8% tariff. All other non-cooperative companies will face a 35.3% tariff. Temporary tariffs on electric vehicles imported from China will not be imposed on July 4, 2024.

BYD reportedly to hire former UK head of Stellantis to drive European business expansion

Media reports that BYD will hire Maria Grazia Davino, former head of Stellantis NV in the UK, to potentially oversee BYD's business in multiple European countries. Davino, who resigned from Stellantis on October 18, recently moved to BYD.

ZTE responds to Lenovo's patent lawsuit: difficult to understand but expresses respect

ZTE: Recently learned that Lenovo has filed an intellectual property lawsuit against ZTE in the High Court of England, we have always respected any company's legal actions within the legal framework, but we are very sorry for Lenovo's actions. ZTE and Lenovo have been negotiating patent licenses for several years, with ZTE always acting in good faith, seeking reasonable returns from its own research and development innovation, hoping that both parties can resolve their disputes in an efficient and reasonable manner. Lenovo's lawsuit in the UK is difficult for us to understand but we express respect.

OpenAI reportedly "shrinks" its 70 trillion chip plan, partners with Broadcom to develop its first AI chip

OpenAI has been collaborating with Broadcom for months to develop AI inference chips, has reserved TSMC capacity, plans for TSMC to manufacture OpenAI's first custom chip in 2026; in addition to NVIDIA chips, OpenAI will also adopt AMD chips to meet demand.

Dutch ASM International's third-quarter orders exceed expectations

Dutch semiconductor equipment manufacturer ASM International's third-quarter revenue was 7.786 billion euros, analysts expected 7.641 billion euros; third-quarter orders were 8.153 billion euros, analysts expected 7.682 billion euros; third-quarter operating profit margin was 27.6%, analysts expected 25.7%; third-quarter gross margin was 49.4%, analysts expected 48.5%; third-quarter orders were 8.153 billion euros, analysts expected 7.682 billion euros.

Apple releases new Mac Mini

Equipped with M4 and M4 Pro processors, starting at $599. Additionally, according to The Information, Apple is using Indian factories for the development of the iPhone 17.

Xiaomi product launch: Xiaomi 15 starting at 4499 yuan, SU7 Ultra pre-sale price of 814,900 yuan, AI-powered Xiao Ai assistant becomes smarter

Xiaomi 15 starts at 4499 yuan, the customized version is not priced higher and has 40 different configurations, the Bright Silver version starts at 4699 yuan, and the Diamond Limited Edition starts at 5999 yuan. The Xiaomi 15 Pro series phone is priced at 5299 yuan. The Xiaomi Pad 7 is priced at 1999 yuan. The Xiaomi SU7 Ultra is available for pre-sale at 814,900 yuan, and will be officially released in March 2025. Pre-orders opened for 10 minutes and the initial order quantity exceeded 3680 units.

Alipay responds to JD integration: Continuously increasing openness, creating greater value

According to media reports, JD.com has now enabled Alipay payments, and some users have successfully completed transactions. Alipay has confirmed this information. This marks the re-collaboration between Alipay and JD.com after 13 years. Previously, JD Express, JD Daojia, JD Zao, and other services have also launched official mini-programs on Alipay for operations.

Probability of Trump reclaiming the presidency rises, driving the valuation of his self-created social media platform to exceed X

Since late September, the stock price of Trump Media & Tech Group has more than quadrupled, with a market value exceeding 10 billion USD. The current value of Trump's social media platform, Truth Social, has surpassed that of Musk's X. The valuation of DJT often fluctuates with the probability of Trump's re-election, rather than its own profit prospects. Investors believe that the chances of Trump reclaiming the presidency have recently increased.

Musk's xAI in talks for financing at a valuation of 40 billion USD, aiming for multi-billion dollar funding

Several months ago, xAI was valued at 24 billion USD, when it raised 6 billion USD in funding in the spring. On Tuesday, Musk announced plans to double the size of the artificial intelligence startup xAI.

US Election

Data from the University of Florida Election Laboratory shows that 51 million people have already voted in the US presidential election, equivalent to 32% of all votes cast in the 2020 US election.

Goldman Sachs: Gold aims for $3000 next year, with an increase of about 10%

Liu Shijin responds to the "10 trillion" proposal: Stimulus comes at a cost

At a public forum held by the China Institute for Urban Governance at Tsinghua University, Liu Shijin stated that the focus of his previous remarks was not on "10 trillion", but on the necessity of taking short-term stimulus measures to stabilize the economy. He had previously proposed raising funds mainly through issuing ultra-long-term government bonds to create an economic stimulus scale of no less than 10 trillion within two years. Liu Shijin further explained at today's forum that stimulus measures come at a cost, and it is necessary to combine stimulus with reforms, spending money to build new systems, and create indispensable institutional conditions and policy environments for high-quality, sustainable development in the medium to long term