Breakfast | NVIDIA's market value returns to $3 trillion! Meta's stock price hits a new high, Micron Tech surges more than 14% after hours

Market Overview

The U.S. stock market saw only the Nasdaq rise, while the Dow fell by nearly 300 points, ending a four-day winning streak, with both the S&P index and major indices falling from their early highs. Small-cap indices fell by over 1%, while the chip index rose by nearly 1%. NVIDIA rose by over 2%, with a market value exceeding $3 trillion, driven by strong AI demand, leading Micron Tech to rise by 14% after hours. The Chinese concept index fell by 2.8%, and Bilibili briefly fell by nearly 7%.

Bank of America closed down by 0.51%. From September 20 to 24, Buffett cashed out $863 million of Bank of America again, reducing his stake to 10.5%.

As a result, Morgan Stanley is bearish on the future of the U.S. automotive industry and has downgraded several U.S. automakers, such as General Motors down by 4.87%, Ford down by 4.14%, and Rivian down by 6.84%.

Warning Signs for Apple's New iPhone Demand: Morgan Stanley Reports Decrease in iPhone 16 Delivery Time

According to Morgan Stanley's report, as of this Tuesday, within the first 11 days of pre-orders for Apple, the delivery time for iPhone 16 in the U.S. and international markets is at least ten days lower than that of iPhone 15. The report states that these data are generally negative for the iPhone cycle, but the predictive power for the entire cycle is still limited. Apple fell by over 1% on Wednesday.

Strong AI Demand Boosts Micron's Revenue by Over 90% Last Quarter, Guidance Crushes Expectations, Surging Over 14% After Hours

Micron's revenue for this fiscal quarter is expected to reach a historic high, with revenue guidance showing the highest growth of 88%, and EPS guidance at the high end exceeding analyst expectations by nearly 20%. It is expected that the company's revenue for this fiscal year will set a "significant record." Micron predicts that by 2025, the HBM market size will increase from $4 billion in 2023 to over $25 billion in 2025, and the company will ramp up production of HBM3E 12H products in early 2025.

Meta Developer Conference: Cheaper Mixed Reality Headsets, Holographic AR Glasses, AI Assistant Can Speak

Meta's stock price hits a new high. The mixed reality headset Quest 3S is priced almost half that of Quest 3, but with no reduction in performance, positioned as a "multi-tasking computer." The Orion glasses are dubbed as the "first true AR glasses" and "the most advanced AR glasses to date," but are currently unavailable for purchase. Meta's AI voice has been authorized by Hollywood stars, releasing the latest version of the large model Llama 3.2, capable of understanding both images and text simultaneously.

Turmoil in OpenAI, Chief Technology Officer Resigns Abruptly, Non-Profit Board May Be "Disempowered," CEO Altman to Receive Company Stock for the First Time

After serving as Chief Technology Officer at OpenAI for six and a half years, Mira Murati announced her resignation. Media reports suggest that OpenAI plans to restructure its core business into a for-profit company, which will no longer be controlled by OpenAI's non-profit board, making OpenAI more attractive to investors.

Google Files Complaint Against EU, Accusing Microsoft of Abusing Market Dominance

Google alleges that Microsoft's licensing terms for Azure cloud services restrict customer access to competitors' platforms, including Google Cloud and Amazon Web Services (AWS). Google also points out that Microsoft's dominant position in cloud computing could pose security risks and threats of information technology failures to EU citizens Microsoft expects that Google's proposal will not receive support from the European Commission.

Morgan Stanley downgrades US auto stocks, General Motors and Ford shares fell more than 5% at one point

Due to intensified price wars, squeezed market share, insufficient consumer purchasing power, and rising credit default rates, profits of US automakers are under pressure. Therefore, Morgan Stanley is bearish on the future prospects of the US auto industry and has downgraded ratings for multiple US automakers.

Goldman Sachs on US stocks after rate cuts: High volatility before the election, S&P at 6000 points next year, mid-cap stocks are the best choice

Goldman Sachs stock strategist Kostin stated that strong corporate earnings will be the main driver of stocks in the coming months, and concerns about the softening trend in labor market data have been exaggerated.

Goldman Sachs says US stocks typically rebound in October, the next few weeks are crucial

Focus on US listed companies' earnings season, US CPI, Tesla's Robotaxi launch event, AMD's AI Day, and analyst days of multiple companies.

People's Bank of China cuts interest rates by 30 basis points, conducts 300 billion yuan one-year MLF operation

On September 25th, the central bank conducted a 300 billion yuan medium-term lending facility operation with a term of 1 year. The highest bid rate was 2.30%, the lowest bid rate was 1.90%, and the bid rate was 2.00%, reduced by 30 basis points compared to before