Breakfast | NVIDIA's earnings report is impressive but fell 5% in after-hours trading, while Bitcoin hits a new high, stimulating a surge in concept stocks

Good morning! A beautiful day starts with making money.

US stocks V-shaped rebound, NVIDIA falls after hours, Bitcoin approaches $95,000 for a new high

British media reported that Ukraine used the British-supplied "Storm Shadow" cruise missiles to strike targets within Russia for the first time, which boosted safe-haven assets and dampened US stock sentiment. By the close, only the Nasdaq fell among the three major US indices. The S&P 500 index closed flat, while the Dow Jones rose by 0.32%.

The "Tech Seven Sisters" saw more declines than gains. NVIDIA fell by 0.76%, Google A dropped by 1.21%, Amazon decreased by 0.85%, Tesla was down by 1.15%, and the closed fund Destiny Tech100 associated with Musk's SpaceX fell by 16.56%. Microsoft declined by 0.55%. Meta rose by 0.79%, and Apple increased by 0.32%.

Most Chinese concept stocks rose. Kingsoft Cloud surged by 42.27%, Manbang rose by 14.82%, Daqo New Energy increased by 9.83%, JinkoSolar rose by 7.64%, and Canadian Solar was up by 6.69%. Nio rose by 0.43%, Alibaba fell by 0.39%, ZEEKR increased by about 8.5%, Bilibili rose over 3.6%, NetEase was up by 2.2%, XPeng increased by 1.3%, while Pinduoduo and Li Auto fell over 1%.

Cryptocurrency concept stocks saw more gains than losses. Youdian Interactive rose by 40%, BTC Digital increased by 10.91%, and MicroStrategy rose by 10%, with a market cap exceeding $100 billion. Coinbase fell by 1.4%.

NVIDIA's earnings report exceeded market expectations, why did the stock price fall by 5% after hours?

NVIDIA's third-quarter sales soared, with profits nearly doubling. The third-quarter revenue was $35.1 billion, a 17% quarter-on-quarter increase, surpassing FactSet's analyst survey predictions. Profits reached $19.3 billion, also exceeding Wall Street's expectations. Additionally, the company projected fourth-quarter revenue of about $37.5 billion, which also exceeded expectations.

After several quarters of soaring revenue and profits, NVIDIA's performance did not meet some investors' expectations. Analyst Reinicke stated that NVIDIA's fourth-quarter revenue outlook is somewhat ambiguous. If a "plus or minus 2%" forecast is made for revenue outlook, it means NVIDIA expects fourth-quarter revenue to be between $36.75 billion and $38.25 billion, while the average analyst expectation is $37.1 billion. If it comes in on the "-2%" side, it will fall below expectations. Of course, if it is slightly lower or "+2%", it will meet or exceed expectations.

Li Bin: Nio aims to achieve profitability by 2026

Nio CEO Li Bin stated that the company's goal is to achieve profitability by 2026. In 2025, Nio aims for a 100% increase in sales, reaching an annual sales scale of approximately 450,000 vehicles. He also responded to the month-on-month decline in brand sales in October, stating it was intentional. Previously, multiple monthly deliveries of 20,000 units led to increased gross margin pressure, so in October, some promotional policies were retracted, and the impact on sales was within expectations. Continuously improving gross margin levels is the core goal of the Nio brand.

Nio: Fourth-quarter delivery guidance is 72,000 to 75,000 units, a year-on-year increase of 43.9% to 49.9%

Nio delivered 61,855 vehicles in the third quarter, setting a new historical high; third-quarter revenue reached 18.67 billion yuan, a quarter-on-quarter increase of 7.0%; gross margin for vehicles continued to rise to 13.1%; free cash flow turned positive in the third quarter, with cash reserves increasing to 42.2 billion yuan. The revenue guidance for the fourth quarter is between 19.68 billion yuan and 20.38 billion yuan, a year-on-year increase of 15.0% to 19.2%.

Nio's third brand named firefly, targeting BMW's MINI brand

Firefly is positioned in the high-end small car market, equivalent to BMW Group's MINI brand. The firefly brand will be officially launched on December 21 at NIO Day 2024, with the first model set to begin deliveries in the first half of 2025.

XPeng Motors: The company expects to achieve breakeven in late 2025

XPeng Motors co-president Gu Hongdi stated that the company is actively exploring various options to address EU tariff issues from feasibility, cost, and strategic perspectives, and expects to achieve breakeven in late 2025. XPeng is in discussions with "dozens" of automakers regarding smart driving collaborations. Investment in artificial intelligence is expected to steadily increase next year.

XPeng Motors refutes rumors of using soft-pack batteries: firmly combating misinformation

XPeng Motors clarified that the P7+ actually uses square aluminum shell batteries and urged the public not to believe or spread these rumors.

Zhixing Group Holdings: Plans for a secondary listing on the Malaysian stock exchange

Zhixing Group Holdings has been in discussions with a chief advisor recognized by the Malaysian Securities Commission regarding the possibility of applying for a secondary listing of the company's shares with a par value of HKD 0.10 on the Malaysian stock exchange through an introduction.

Bitcoin hits a new high for the second consecutive day as MicroStrategy increases bond issuance to fund purchases

Bitcoin has surpassed $94,000 for the first time. MicroStrategy has increased the issuance size of its convertible senior notes program by nearly 50% to $2.6 billion. Earlier this week, it announced the purchase of $4.6 billion worth of Bitcoin, holding assets valued at over $30 billion.

Tesla chairman sells $35 million worth of stock

In November, Tesla chairman Robyn Denholm cashed out by exercising 112,390 stock options set to expire next year and sold the shares on November 15. After considering the exercise cost, Denholm netted approximately $32.5 million from this sale.

Trump's team considers establishing the first-ever cryptocurrency-related position in the White House

Trump's team is reviewing candidates for this role. Former Coinbase and Binance US executive Brian Brooks met with Trump on Tuesday and is a potential candidate for the chair of the SEC. Coinbase CEO Brian Armstrong also spoke with Trump this week