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LB Select
2023.09.14 09:50
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Pre-market trading in US stocks | Arm to debut on Nasdaq tonight, focus on US August PPI and "terrifying data", TSMC's 3nm chips to be mass-produced next year.

NVIDIA rose 1%, TSMC rose 1.4%, Netflix rose 0.7%, and Amazon rose 0.6%. Alibaba, Baidu, and NetEase rose 0.4%, Pinduoduo and Beike rose over 1%, and Bilibili and Weixiaoli rose 0.7%.

US Stock Market News

  1. Apple's revised orders have led to TSMC's 3nm production capacity falling short of expectations, and it will not reach full capacity until 2024.

  2. Analyst Guo Mingchi from TF International Securities released a report stating that Apple and NVIDIA may use 2nm technology to produce the next generation of iPhone processors and B100 AI chips respectively by 2026. As these two potential 2nm customers also have investments in ARM, TSMC's investment in ARM will strengthen its cooperation with Apple and NVIDIA and strive for 2nm orders.

  3. Market news: The dispute over Twitter's large-scale layoffs has entered the settlement negotiation stage.

  5. New Street Research: Initiates coverage of Arm with a buy rating; target price of $59.

Pre-market Movement

In pre-market trading, Dow Jones futures, Nasdaq futures, and S&P 500 futures all rose by more than 0.2%.

Most Chinese stocks in the US stock market showed strength in pre-market trading, with Missfresh up nearly 6%, Gaotu up over 3%, and Miniso, New Oriental, and Vipshop all up over 1%.

Alibaba, Baidu, and NetEase rose 0.4%, Pinduoduo and Beike rose over 1%, Bilibili and Weimob rose 0.7%.

NVIDIA rose 1%, TSMC rose 1.4%, Netflix rose 0.7%, and Amazon rose 0.6%.

Institutional Views

  1. CICC: Maintains Alibaba's outperform rating, target price of HKD 137.

CICC believes that Alibaba has recently updated its advertising products on the merchant side and held business and product ecosystem exchanges. Taobao and Tmall have confirmed their user-first approach to traffic distribution and merchant selection, hoping to encourage competition among merchants based on consumer services. Alibaba's selection and traffic distribution mechanism based on user behavior indicators is a more objective incentive method, which is beneficial for outstanding merchants to stand out.

  1. CICC: Apple's new products released as scheduled, with impressive innovation and optimized user experience.

CICC believes that Apple's new products were released as scheduled, with pricing unchanged from the previous generation. The progress of Apple's hardware products at the launch event is better than the market's previous pessimistic expectations. Apple's hardware innovation is basically in line with expectations, and there are significant upgrades in terms of appearance and weight. It is optimistic that the new products are expected to enhance users' motivation to upgrade and promote shipment growth.

US Stock Market Strategies

  1. ARM goes public, Goldman Sachs' "face-off"

  2. Although Apple didn't say it explicitly, iPhone 15 is "very AI"

  3. US stock options | Apple and Alibaba put options surge, Netflix options trading volume triples

  4. Hong Kong Stock IPO | Tencent and Zero Run are cornerstone investors

  5. Under the pressure of profit margin, it is difficult for US stocks to break through a significant increase

  6. Technical Analysis | US stocks may still be in a "bear market rebound" at present

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