LB Select
2023.09.27 10:44
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Pre-market Update: US Government Shutdown Risk Increases, Tesla Aims to Deliver 500,000 New Cars, Legendary Investor Warns of AI Bubble

MillerKnoll surged 18%, while Costco dropped 2%. Apple, Microsoft, Google, and Tesla all saw gains of around 0.5%. Alibaba and Xiaopeng both rose 0.6%, while Pinduoduo, Beike, Bilibili, and Nio all rose by nearly 1%. Li Auto saw a gain of over 1%, while UBS fell 1.4%.

Top News in US Stocks

  1. Sequoia China has purchased shares of Xiaohongshu (Little Red Book) at a valuation 30% lower than its most recent equity financing. Sequoia China acquired these shares earlier this year, valuing the company at $14 billion. (The Information)

  2. Tesla CEO Elon Musk issued another warning about the rapid growth of US national debt, pointing out that the debt has increased by $4 trillion in less than two years, and the only way to cover the deficit is to squeeze every individual dry.

  3. According to The Verge, Snap is expected to announce a layoff of 150 employees in its AR division.

  4. NIO has announced the completion of the delivery of its 500,000th new vehicle. It took only 46 months since the end of 2019 to achieve this milestone, making NIO the first domestic new energy vehicle company to reach 500,000 deliveries.

  5. Former Apple designer Jony Ive and OpenAI CEO are reportedly discussing AI hardware.

  6. Guo Mingchi: Due to the lack of a low-cost version, Apple's mixed reality headset, Vision Pro, may have lower shipment growth than market expectations. The overheating issue with the iPhone 15 Pro is unrelated to TSMC's 3nm process.

  7. A reporter from the Shanghai Securities News visited the Tesla Gigafactory in Pudong, Shanghai and observed that the integrated die-casting technology has been successfully applied to the rear underbody assembly system of the Tesla Model Y, enabling rapid molding.

  8. According to S&P Global Market Intelligence, as of June 30, the total amount of deposits in the US banking industry was approximately $17.3 trillion, a YoY decrease of 4.8%.

  9. OpenAI is reportedly seeking to sell existing shares at a valuation of up to $90 billion.

  10. S&P Global Market Intelligence: The 1-year credit default swap for the US rose from 21 basis points at the previous close to 22 basis points, the highest since June 1, due to increased risks of a government shutdown.

  11. Market news: The US is intensifying its investigation into Credit Suisse and UBS for violating sanctions.

Pre-market Movers

In pre-market trading, Dow Jones futures, Nasdaq futures, and S&P 500 futures are all up around 0.3%.

Alibaba and Xiaopeng Motors are up 0.6%, Pinduoduo, Beike, Bilibili, and NIO are up nearly 1%, and Li Auto is up over 1%.

MillerKnoll is up 18%, Costco is down 2%, while Apple, Microsoft, Google, and Tesla are up around 0.5%.

UBS is down 1.4% and has entered a trading halt following reports of an investigation by US authorities.

Analyst Views

1. Legendary investor warns: AI bubble will burst, inflation will rise, sell growth stocks quickly Legendary American investor Robert Arnott warns that investors should sell growth stocks and switch to value stocks, as rising inflation will make growth stocks a poor choice. By the end of the year, the inflation rate is expected to accelerate to 4.5%-5%. In the face of these unfavorable factors, value stocks will prevail due to their "exceptionally cheap" valuation levels.

2. Guo Mingchi: Apple's mixed reality headset Vision Pro may have lower shipment growth than market expectations

Guo Mingchi, an analyst at TF International Securities, stated the following: 1. Based on the estimated maximum production capacity of some component suppliers, the shipment volume of Vision Pro in 2024 is expected to be at most 400,000 to 600,000 units, which is less than the market's expectation of over 1 million units. 2. Apple may have canceled the plan for a low-priced version of Vision Pro, and unless Apple significantly reduces the selling price of Vision Pro, the market's expectation of significant shipment growth starting from 2025 may not materialize. 3. Vision Pro 2 is expected to enter mass production no later than 1H27, which means there may be no hardware updates for Vision Pro in the coming years.

US Stock Market Strategy

  1. Analysis Report: Can Tencent and NetEase rise another 40%? New Oriental's target price has been raised!

  2. When will the new round of rise for Hong Kong's technology stocks, with Tencent's 1623% increase in the past decade, begin?

  3. Why is Nvidia, which fell 15% in September, still the "fighter jet" among AI chip stocks?

  4. US Stock Options: Apple Put transactions surge, Huya options trading volume increases fivefold, Rivian and Fisker Call transactions surge

  5. The biggest risk in the US stock market: Profit expectations may have peaked!

  6. As panic intensifies in the US stock market, how to make good use of options?