Pre-market US stocks | Apple's 2023 Fall Event kicks off tonight, Arm receives 10 times oversubscription, TikTok Shop fully launches in the United States.
Oracle fell 9%, with quarterly revenue forecast lower than expected. Pinduoduo dropped nearly 1%, while Baidu and NetEase rose over 0.5%. Tesla fell 0.7%, Microsoft, Amazon, and NVIDIA fell 0.6%, Google fell 0.4%, and Netflix fell 0.5%.
Top News in US Stocks
According to insiders, Apple plans to offer the iPhone 15 series, which is produced in India, in South Asia and other regions on the first day of global sales.
Samsung Electronics is reportedly collaborating with Microsoft to develop its own chatbot using Microsoft's Azure OpenAI service. This chatbot, developed with Samsung's in-house generative AI, will focus on tasks such as translation and document summarization. (Korea Electronics Daily)
Ideal Car announced that its weekly sales reached a record high of 8,500 units in the 37th week of 2023 (September 4th to September 10th). As of September 10th, Ideal Car's monthly sales have reached 11,100 units.
According to Nikkei News, global semiconductor giant TSMC is accelerating the production of semiconductors for artificial intelligence (AI). With the commissioning of new factories, TSMC aims to double the production capacity of key processes by 2024.
Elon Musk posted, "Almost all of Tesla's long-term value will come from AI and robots, including cars and humanoid robots."
According to insiders, Arm's initial public offering (IPO) has received 10 times oversubscription, and investment banks plan to stop accepting subscriptions by Tuesday afternoon. Insiders said that Arm, controlled by SoftBank Group, will close orders one day earlier on Tuesday but still plans to price its shares on Wednesday.
Alibaba Group's newly appointed CEO, Wu Yongming, released a company-wide letter announcing two strategic priorities: user-first and AI-driven.
Oracle expects Cerner to grow by 5%-7% in the second quarter, slightly lower than analysts' expectations of around 8% growth. Oracle also predicts that cloud sales, excluding Cerner, will grow by 29%-31% in the second quarter. Adjusted earnings per share for the second quarter are expected to be $1.30-$1.34, in line with analysts' expectations of $1.34.
According to AUTOMOTIVE NEWS, as the strike deadline approaches, the United Auto Workers (UAW) has lowered its wage increase demand for the next four years to around 30%.
TikTok announced the full launch of TikTok Shop in the United States. TikTok supports storing US user data in the US and managing it by the US Data Security Company (USDS). It will collaborate with third-party payment platforms to facilitate transactions on TikTok Shop.
Pre-market Movement
In pre-market trading, Dow Jones futures fell by 0.18%, while Nasdaq futures and S&P 500 futures dropped by nearly 0.3%.
Pinduoduo fell by nearly 1%, while Baidu and NetEase rose by over 0.5%.
Tesla dropped by 0.7%, Microsoft, Amazon, and NVIDIA fell by 0.6%, Google fell by 0.4%, and Netflix fell by 0.5%.