Pre-market US stocks | Chinese internet companies rise, Micron Tech falls nearly 6%! Meta Platforms reportedly fined $1.3 billion by the EU.

US Stock News

1. According to the Wall Street Journal, sources revealed that the EU privacy regulator fined Meta Platforms Platforms Platforms Platforms 1.3 billion US dollars for sending user information to the United States, setting a record for EU fines. The ruling is expected to be announced later on Monday. Meta Platforms Platforms Platforms Platforms stated that it will appeal the EU's ruling, including "unnecessary" fines.

2. Full Truck Alliance: Q1 revenue was RMB 1.702 billion, compared with RMB 1.333 billion in the same period last year. Q1 net profit was RMB 409 million, compared with a net loss of RMB 192 million in the same period last year.

3. As the time for the US debt default approaches, US President Biden and Speaker of the US House of Representatives McCarthy will meet on Monday, May 22. Before that, debt ceiling negotiation representatives will resume discussions in Washington. According to a statement from the White House, the negotiating representatives of both parties plan to resume negotiations at 6 pm local time on Sunday (6 am Beijing time this morning).

4. Kashkari of the Federal Reserve: I am open to not raising interest rates in June. But I currently oppose any statement that we have stopped raising interest rates. I may support maintaining interest rates at the next Fed meeting.

5. Products sold by Micron Technology in China have not passed network security reviews.

6. Dingdong Maicai withdraws from Chengdu and Chongqing: high costs and uneconomical supply chain, operating in 26 cities nationwide.

7. Nvidia, the Jülich Supercomputing Centre in Germany, and Partec have established a quantum computing laboratory.

Pre-market anomalies

In pre-market trading, Dow futures, Nasdaq futures, and S&P 500 futures all fluctuated narrowly.

Apple fell 1%, Meta Platforms Platforms Platforms Platforms fell 1.4%, and Micron Tech fell nearly 6%.

Institutional Views

1. Bank of America Securities: Downgrade Alibaba's target price and buy rating

Bank of America Securities expects Alibaba's GMV in China's retail industry to return to year-on-year growth in the current quarter. Bank of America Securities lowered Alibaba's revenue forecast for fiscal years 2024 and 2025 by 5% to 6% to reflect a slight slowdown in consumer recovery and the trade-offs made for better profit margins for non-core business units after restructuring. The target price was lowered from HKD 141 to HKD 129, and the buy rating was reiterated.

2. Credit Suisse: Raise BEKE-W's target price and outperform the market rating Rui Xun released a report stating that BEKE-W is still in the early stages of an upward cycle, and the company will benefit from its increased market share and outperform the industry. The bank expects BEKE-W's adjusted net profit to reach RMB 8 billion this year, and believes that it can be sustained under stable market conditions after cost optimization. The target price has been raised from HKD 63 to HKD 69, and the rating remains outperform.

US Stock Strategy

1. US stock sentiment turns positive, funds have been net inflows for two consecutive weeks, and investors are crazy about buying technology stocks.

2. US stock AI concept faces a big test: Nvidia's financial report is coming this week, can performance support the stock price?

3. US stock options | Meta Platforms Platforms Platforms Platforms, Google, Tesla call transactions are active, and Nvidia options transactions have doubled.

4. Clearing LI AUTO-W, reducing Apple and NIO-SW! The largest pension fund in the United States reduced its stock position in the first quarter.

5. Detailed explanation of the "eternal second" AMD AI computing power advantage: the market is suffering from Nvidia's monopoly!

6. Big bank quick look | Alibaba's target price has been lowered! JD.com and BYD both have at least doubled space?