Breakfast | Dow Jones fell by about a thousand points during the day, NVIDIA plummeted, Apple, Amazon, and Intel all performed poorly

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Economic data and Middle East conflict scare US stocks, Dow Jones once fell about a thousand points, NVIDIA falls again

The US stock market opened collectively higher in the morning due to the dovish outlook of the Federal Reserve, but later fell sharply due to the continued softness in the US labor market, the deepest manufacturing contraction in eight months, plus the impact of the Middle East conflict. The Dow Jones fell over 740 points at its lowest point, the S&P 500 index fell by 2% at one point, and the Nasdaq, small-cap indices, and Chinese concept stocks all fell by over 3% at one point. By the close, the Dow Jones fell by 1.21%, the S&P 500 index fell by 1.37%, the Nasdaq fell by 2.3%, and the Russell 2000 fell by 3.03%.

Iran's Supreme Leader Ayatollah Ali Khamenei has ordered direct strikes against Israel in retaliation for the assassination of Ismail Haniyeh, the political leader of the Palestinian Islamic Resistance Movement (Hamas), in Tehran.

Chip stocks fell the most, with declines of over 8%. Tesla and NVIDIA fell by over 6.5%. Intel's financial report disappointed, plunging 20% after hours. ARM fell by over 15%. Apple fell by over 1%. Amazon fell by over 1%, with weak second-quarter revenue and next quarter guidance causing a drop of over 6% after hours.

Chinese concept stocks generally fell, with HUT Group falling by 12.08% and ZEEKR falling by 9.57%.

Apple's iPhone revenue declines, only region in Greater China sees a drop, Cook expresses long-term confidence in the Chinese market

Apple reported earnings per share of $1.4 for the third quarter, exceeding expectations of $1.35; revenue of $85.78 billion, exceeding expectations of $84.5 billion; net profit of $21.45 billion, exceeding expectations of $20.7 billion. Revenue from the iPhone product line in the third quarter was $39.3 billion, exceeding expectations of $38.95 billion. Revenue from the Mac product line in the third quarter was $7.01 billion, exceeding expectations of $6.98 billion. Revenue from the iPad product line in the third quarter was $7.162 billion, exceeding expectations of $6.63 billion. Revenue from wearables, home, and accessories in the third quarter was $8.1 billion, exceeding expectations of $7.79 billion. Revenue from services in the third quarter was $24.21 billion, exceeding expectations of $23.96 billion. Revenue from Greater China in the third quarter was $14.73 billion, below expectations of $15.26 billion. Apple's stock rose by over 1% after hours.

Tech journalist Gurman: Apple may not have significant innovation until 2027

Financially, Apple is doing well, but its pace of innovation has slowed significantly, possibly missing out on the latest major new products, while also canceling future growth sources such as internal screen technology and cars. In Apple's product roadmap for the next 2-3 years, I don't see anything game-changing. In my view, it won't be until around 2027 that we see something new and meaningful.

Amazon's Q3 guidance disappoints, cloud demand signals caution under AI investment pressure, falling by over 6% after hours

Amazon expects operating profit for the third quarter to reach $11.5 billion to $15 billion, with analysts' average expectation at $15.7 billion; it expects third-quarter sales to reach $154 billion to $158.5 billion, with growth between 8% and 11%, analysts expected $158.4 billion. Sales in the cloud services division grew by 19% to $26.3 billion, exceeding expectations, achieving sequential growth for the second consecutive quarter. Strong cloud computing performance was offset by weakness in Amazon's main e-commerce business Amazon's seller services and advertising revenue in the second quarter were both below expectations.

Intel's big disappointment, Q2 revenue unexpectedly declined, will cut more than 15% of workforce, first dividend suspension in 32 years, after-hours drop exceeded 20%

Intel's adjusted earnings per share and revenue for the second quarter fell short of Wall Street analysts' expectations. At the same time, the company's outlook for adjusted earnings per share and revenue for the third quarter also fell well below expectations. Revenue for the second quarter was $12.83 billion, down 1% year-on-year, with analysts expecting $12.95 billion, compared to a 9% increase in the first quarter. Non-GAAP adjusted earnings per share (EPS) were $0.02, down 85% year-on-year, with analysts expecting $0.10, compared to a profit of $0.18 in the first quarter. Adjusted gross margin was 38.7%, down 1.1 percentage points year-on-year, with analysts expecting 43.6%, compared to 45.1% in the first quarter. Announced layoffs of over 15,000 people.

Sluggish sales in Europe and the United States compounded by intensified competition, Moderna lowers full-year sales forecast, closing down 21%

Moderna's Q2 revenue fell 37% year-on-year to $241 million, higher than the expected $132 million, compared to $344 million in the same period last year. Sales of the COVID-19 vaccine decreased by 37% year-on-year. Net loss was $1.28 billion, compared to a loss of $1.38 billion in the same period last year. Loss per share was $3.33, better than the expected loss of $3.39 per share. Full-year sales are expected to be between $3 billion and $3.5 billion, previously expected to be $4 billion.

Snap's second-quarter revenue slightly below expectations, plunging 22% after hours

Q2 revenue was $1.24 billion, with the market expecting $1.25 billion, compared to $1.068 billion in the same period last year.

Coinbase's second-quarter revenue slightly higher than expected, closing down over 5%, up 2% after hours

Q2 revenue was $1.45 billion, with the market expecting $1.4 billion, compared to $707.9 million in the same period last year. Trading revenue was $780.9 million, with the market expecting $745.1 million. (Jinshi Data APP)

China's July electric vehicle delivery report, half show a month-on-month decline

IM Motors stagnates. Li Auto set a new record for deliveries, delivering 51,000 new cars; XPeng sold 42,176 vehicles, a year-on-year increase of over 500%; Xiaomi, a newcomer in the car-making industry, delivered over 10,000 vehicles in August. Nio delivered 20,498 vehicles, while XPeng delivered a total of 11,145 new cars, a 1% year-on-year increase and a 4% month-on-month increase. Xiaomi's SU7 deliveries exceeded 10,000 units, with deliveries expected to continue to exceed 10,000 in August, and the annual target of 100,000 deliveries is expected to be achieved ahead of schedule in November.

The Bank of England announced a 25 basis point cut in the benchmark interest rate to 0.5%, in line with market expectations, the first rate cut since early 2020