LB Select
2023.11.24 10:00
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Pre-market US stocks | XPENG-W surges, NVIDIA falls! Taobao cancels "Double 12" this year

NVIDIA fell more than 1% in pre-market trading, as news broke that the release of NVIDIA's special edition AI chip for China will be delayed until the first quarter of next year. Faraday Future Intelligent Electric surged 20% at one point, after announcing its entry into the Middle East market and signing a strategic cooperation agreement. iRobot skyrocketed 48% at one point, as there is speculation that Amazon may receive unconditional approval from the European Union for its $1.4 billion acquisition.

Note: US stocks will close three hours early today due to Thanksgiving.

US Stock Market News

  1. Recently, in response to inquiries from merchants about the 2023 Taobao Double 12 business time, Taobao replied in the Merchant Service Hall channel that the Taobao Double 12 event will be canceled this year. Instead, the Taobao Good Price Festival will officially start at 8:00 pm on December 9th. Compared with previous Double 12 events, the discount intensity, merchant scale, and product scale have all been significantly increased.

  2. According to two sources familiar with the matter cited by Reuters, Nvidia has informed its Chinese customers that the new artificial intelligence (AI) H20 chip, designed to comply with US export regulations, will be delayed until the first quarter of next year. One of the sources said they were told it could be released in February or March.

  3. According to the latest data from Counterpoint Research, the sales volume of the Chinese smartphone market increased by 5% during the "Double 11" two-cycle period compared to the previous year. Both Huawei and Xiaomi smartphones achieved double-digit year-on-year growth, while Apple's smartphone sales performed poorly, with a 4% year-on-year decline.

  4. A new study published in the Journal of the American Medical Association Ophthalmology stated that the technology behind ChatGPT can generate "seemingly real" experimental data that appears to "support" unverified scientific hypotheses.

  5. According to Globo, Brazilian oil company Petrobras has raised its "five-year investment plan" to $102 billion, a 31% increase from the original plan of $78 billion. The company is undergoing major adjustments based on cost control strategies.

Pre-market Movement

In pre-market trading, the three major stock index futures are slightly up, and the fear index is down.

Chinese concept stocks are mixed, with XPeng Motors up over 4%, Li Auto up over 1%, and NIO, Alibaba, Pinduoduo, JD.com, and Bilibili down.

Among tech stocks, Nvidia is down over 1%, while Tesla, Google, and Apple are down, and Netflix, Amazon, Microsoft, and Meta are up.

In terms of individual stocks, Faraday Future surged 20% after announcing its entry into the Middle East market and signing a strategic cooperation agreement.

iRobot soared 48% as Amazon may receive unconditional approval from the European Union for its $1.4 billion acquisition.

Strategy Review

  1. "The OpenAI Farce Ends, Is Meta the 'Most Overlooked Winner'?"

  2. "Why is the Smartphone Replacement Trend Coming? Goldman Sachs Provides a New Reason"

  3. "After Dong Mingzhu, will Jack Ma also enter the prefab food industry?"

  4. "AMD's new AI chip is about to be released, with large orders already in hand, and it is expected to challenge Nvidia."

  5. "The strike wave in the United States spreads to Tesla in Sweden, Musk comments: 'Crazy!'"