Pre-market trading in US stocks | Alibaba fell more than 5% after earnings! WSB concept stocks continue to soar!

U.S. Stock Market News

1. A reporter asked that U.S. President Biden will announce tariffs on products from China on Tuesday, targeting Chinese electric cars, medical supplies, and solar products. What is China's response to this?

Chinese Foreign Ministry spokesperson Wang Wenbin responded that you can inquire with the relevant authorities for specific details.

1. At the invitation of Chinese President Xi Jinping, Russian President Putin will pay a state visit to China from May 16th to 17th.

2. Alibaba's fourth-quarter revenue was RMB 221.87 billion, slightly higher than the estimated RMB 219.79 billion. Adjusted earnings per ADS in the fourth quarter were RMB 10.14.

3. According to the China Quality Certification Center website, Apple's VR headset product Vision Pro has passed China's 3C certification.

4. Supply chain sources indicate that Xiaomi's car division is requesting upstream suppliers to increase component supply. "Xiaomi SU7's additional orders are about 80%. One type of component has increased from about 10,000 sets per month to the most recent 18,000 sets+."

5. Tencent Holdings reported a first-quarter net profit of RMB 41.9 billion, exceeding the market estimate of RMB 34.5 billion. First-quarter revenue was RMB 159.5 billion, slightly higher than the market estimate of RMB 158.81 billion. Adjusted net profit in the first quarter was RMB 50.27 billion, surpassing the market estimate of RMB 43 billion. First-quarter operating profit was RMB 52.56 billion, exceeding the market estimate of RMB 45.28 billion.

There is a possibility of repurchasing shares worth over HKD 100 billion by 2024.

1. Miniso's first-quarter revenue was RMB 3.724 billion, a 26% year-on-year increase; adjusted net profit was RMB 617 million, a 27.7% year-on-year increase.

2. Sony reported a fourth-quarter net profit of JPY 189.01 billion, surpassing the market estimate of JPY 153.21 billion. Fourth-quarter sales revenue was JPY 3.48 trillion, exceeding the market estimate of JPY 2.91 trillion.

Sony expects a full-year net profit of JPY 925.0 billion, slightly lower than the market estimate of JPY 998.68 billion. Full-year sales revenue is expected to be JPY 12.31 trillion, compared to the market estimate of JPY 12.55 trillion. Full-year operating profit is expected to be JPY 1.28 trillion, slightly lower than the market estimate of JPY 1.33 trillion. Full-year operating profit for the gaming business is expected to be JPY 310 billion.

1. Tesla's Cybertruck manufacturing head, Zhu Renjie, has resigned.

2. The U.S. National Highway Traffic Safety Administration has received 22 accident reports involving Waymo, the self-driving car company under Google's parent company Alphabet. Waymo's self-driving system is under investigation for potential defects. Waymo may have violated traffic safety laws.

3. Home Depot reported earnings per share of $3.63 in the first quarter, down from $3.82 in the same period last year. First-quarter net sales were $36.42 billion, slightly lower than the market estimate of $36.66 billion. Comparable store sales in the first quarter decreased by 2.8%, compared to the market estimate of a 2.19% decrease.

Pre-Market Movers

In pre-market trading, U.S. stock index futures and the fear index are generally rising Bitcoin is now trading at $61,628, down over 2% in the past 24 hours; Ethereum is now trading at $2,907, down nearly 2% in the past 24 hours.

Cryptocurrency concept stocks are generally down in pre-market trading, with Chinese concept stocks and technology stocks showing mixed movements.

Microstrategy, Coinbase, and Marathon Digital are down over 2%.

Tesla and Apple are slightly up, while Nvidia and AMD are slightly down.

Alibaba initially dropped over 5% after earnings, while XPeng and Li Auto dropped over 2%, JD.com dropped nearly 2%, Bilibili and Pinduoduo dropped nearly 1%, Nio and NetEase are slightly up.

WSB concept stocks continue to rise in pre-market trading, with GameStop up over 55%. AMC Theatres is up over 67%.

Strategy Review

1. What does GPT-4o mean? OpenAI partnering with Apple, the unstoppable trend of AI smartphones!

Jim Fan, Senior Research Scientist at Nvidia: This could become an AI product with 1 billion users from the start, with OpenAI's relationship with Apple similar to "FSD for smartphones".

2. JPMorgan Chase increased its holdings of Apple stock by over 18 million shares in Q1, Vanguard also increased its holdings

JPMorgan Chase's 13F filing for US stocks shows that in the first quarter, it increased its holdings of Apple stock by over 18 million shares, accounting for 2.27% of its portfolio; and increased its holdings of star tech stocks such as Microsoft, Nvidia, Meta Platforms, and Google. In addition, JPMorgan Chase also increased its holdings of UBS, Stellantis, Exxon Mobil, and other star stocks, while reducing its holdings of Bank of America, Uber, Eli Lilly, and others. JPMorgan Chase's total holdings as of the end of March amounted to $1.18 trillion, an increase of $0.14 trillion from the previous quarter.

3. About to plummet by 70%! "The Big Short" "Terrifyingly" predicts Tesla's stock price, the core electric vehicle business is facing challenges

The prototype of "The Big Short" stated that Tesla's current stock price of $171 will eventually fall to $50. Moses believes that Elon Musk's grand publicity in areas such as autonomous taxi services and artificial intelligence is just a distraction from fundamental issues facing the company