Breakfast | Microsoft, Apple, NVIDIA are going crazy, Wall Street sees S&P 500 hitting 6000 points

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Overnight Morning Market

The three major indexes of the US stock market all rose, with the Nasdaq and S&P 500 hitting new all-time highs.

Apple and Microsoft are fiercely competing for the title of the world's largest company. At the close, Apple's market cap was $3.3224 trillion, while Microsoft's market cap was $3.3324 trillion. NVIDIA's stock price hit a new high, with a total market cap of $3.2221 trillion.

Large-cap tech stocks rose across the board, with Microsoft up 1.31%, Apple up 1.97%, Google-A up 0.25%, Amazon up 0.22%, and META up 0.49%. In addition, Tesla rose 5.30%.

Chinese concept stocks rebounded, with Ganfeng Lithium up nearly 20%, Bilibili up over 6%, Alibaba up over 1%, and Nio up over 2%.

Retail investor favorite stocks declined. Game Station fell by 12.13%. BlackBerry fell by 1.71%, AMC Theatres fell by 2%, and Gaussin Electronic fell by 0.5%.

Blue Chips and Hot Stocks

The concentration of the US stock market is currently at one of the highest levels in history. Microsoft, Apple, and NVIDIA account for over 20% of the S&P 500 index weight.

Huang Renxun cashed out $31.2 million of NVIDIA stock. Over the past month, NVIDIA's stock price has risen by a cumulative 42%.

Buffett sold about $300 million Hong Kong dollars of BYD H shares last week, marking his second reduction in nearly eight months.

Musk: Working on Tesla's grand plan Part 4. Musk said a mini version of Starlink terminal equipment will be launched in the coming months.

Ferrari CEO Vigna: Ferrari is committed to electric cars and internal combustion engine supercars.

Apple to shut down Apple Pay Later installment payment service.

Game Station CEO says focusing on profitability and avoiding speculation.

Due to hidden fees issues, the Federal Trade Commission (FTC) is taking action against Adobe and its executives.

Nio recently launched the intelligent electric flagship SUV model EL8 in five European countries.

Huang Renxun: Significant breakthroughs in humanoid robot technology expected in the next 2-3 years.

Crackdown on virtual anchors? Tencent Video plans to restrict digital human-led sales: Encouraging live broadcasts by real people.

Chips and Artificial Intelligence

NVIDIA releases Omniverse microservices to accelerate physical AI development.

Intel invests in Luxshare Precision's subsidiary.

Reports suggest TSMC plans to raise prices: 3nm may increase by over 5%, advanced packaging by 10%-20%.

Apple plans to gradually introduce its smart features in the coming months to avoid issues faced by other AI systems.

Cryptocurrency

Market news: The US Supreme Court has agreed to hear a case regarding NVIDIA's cryptocurrency mining revenue, considering raising the difficulty for shareholders to bring securities fraud lawsuits.

Startups and IPO Opportunities

Wuhan Organic officially listed today, with a dark pool surge of 68% yesterday.

Macro: Taking You Around the World

Fed's Harker: It is appropriate to cut interest rates once before the end of the year, but not cutting rates or cutting rates twice is also possible Citigroup will raise its year-end target for the S&P 500 index to 5600 points, bullish on the strength of tech giants, with continued profit upgrades and profit growth expanding beyond non-tech stocks prompting the target adjustment.

Investment bank Evercore ISI: Raised its year-end 2024 target for the S&P 500 index from 4750 points to 6000 points.

Federal Reserve Chairman Powell is scheduled to deliver semi-annual monetary policy testimony before the Senate Banking Committee on July 9th. Prior to July 9th, the June non-farm payroll data will be released (July 5th), followed by the June CPI data in the next two days (July 11th).

China and Australia have confirmed plans to restart the China-Australia Strategic Economic Dialogue in 2024. China announced that Australia will be included in the list of countries eligible for unilateral visa-free treatment