苹果公司可能在今年夏季推出 iPhone 之后的重要产品，这将给公司带来井喷式的增长。该公司正在加大对人工智能领域的投资，视其为重要战略领域。此前，苹果叫停了造车项目，并将部分人员调至生成式人工智能项目。虽然苹果在人工智能方面落后于其他科技巨头，但公司认为生成式人工智能具有巨大潜力，将为用户带来变革的机会。苹果每年在该领域的支出超过 10 亿美元。

押注 AI！Melius Research：苹果或在夏季发布 iPhone 之后最重要产品

阿里大文娱发布 “港艺振兴计划”。阿里大文娱宣布，未来 5 年将在香港剧集、电影、演出和青年人才培养四大领域投入不低于 50 亿港元。阿里大文娱董事长兼 CEO 樊路远表示，希望与香港文化娱乐界展开深度合作。阿里影业还发布了多部优质港片，并宣布将在香港打造第二总部。

阿里大文娱发布 “港艺振兴计划” 四大领域投入 50 亿港元

理想汽车 CEO 李想在朋友圈发声表示，对于过去十天发生的事情，感谢众多用户和朋友的支持和帮助。他指出，对于有组织的违法犯罪行为，已经在用法律手段处理中。此外，李想表示选择用光明反击黑暗，希望更多人共同创造美好的设计和幸福时光。

李想朋友圈发声：“我们决定开始反击”

The stock price shows signs of stabilizing.

After-hours trading | NVIDIA dramatically surged by 8%, from a 6% decline to briefly rising by 2%.

SINOHOPE TECH surged over 7% intraday, and as of the time of writing, it rose by 5.9% to HKD 3.77, with a turnover of HKD 8.699 million. On the news front, last Friday, the price of Bitcoin reached the milestone of $70,000 for the first time in history. Although there has been a slight pullback since then, the overall trend of the price remains upward. In addition, the cryptocurrency tax platform CoinLedger stated in a recent research report that Bitcoin halving has only occurred three times so far, but the price of Bitcoin has surged by an average of 400% in the year following the last two halvings. Based on whether Bitcoin reached $69,000 during the halving in April, the research predicts a future price of $115,000.

Hong Kong Stock Market Update | SINOHOPE TECH surged over 7% intraday as Bitcoin price breaks $70,000 for the first time.

截至发稿，京东集团涨 6.64%、美图-W 涨 5.07%、微博-SW 涨 2.70%、腾讯控股涨 1.78%。

港股互联网股多数上涨 京东集团涨近 7%

FistsUnchained doesn't care about female virtues. In today's society, the issue of protecting the rights and interests of workers is receiving increasing attention from the public. Recently, a former Pinduoduo (PDD) employee named "草娃" faced immense pressure from the company's claim of 280,000 yuan. In despair, she uttered these words: "Even if I die, maybe PDD won't come after my parents for money." The controversy surrounding a former PDD employee's non-compete dispute has attracted attention. On March 6, 2024, a post from Weibo user "草娃故事" sparked widespread social concern. The user shared her experience as a former PDD employee who, after complying with the non-compete clause, was claimed 280,000 yuan by the company for violating the agreement. This incident has sparked heated discussions online and raised questions about the labor environment in Chinese internet companies. The non-compete clause controversy arises. 草娃， a girl born in a rural area of Jiangxi in 1999, joined PDD in July 2022 as a procurement and sales specialist after graduating from university. After working at the company for 8 months, her health deteriorated due to long working hours, leading her to resign. Upon resignation, she was forced to comply with a 9-month non-compete clause by the company and received a monthly compensation of 2,400 yuan. However, after receiving compensation for 6 months, 草娃 received a labor arbitration application initiated by PDD, demanding payment of 280,000 yuan in compensation. Confusion under the legal framework. As a recent graduate, 草娃 expressed shock and confusion about the sudden claim.

I'm dead, maybe PDD will no longer track my parents for money.

黄金价格创历史新高，铜铝赔率更大，全球工业经济处于周期底部。黄金扩大涨势，美联储降息预期提振黄金。铜股票价格领跑铜价，黄金股票价格和铝股票价格落后。随着下游消费回暖，工业金属供需缺口逐渐清晰，金融属性和商品属性推动工业金属价格上攻。金价上涨主要受美联储理事沃勒讲话影响。机构调研认为，铜铝的赔率更大，金铜比处于高位，有望轮动加速。资源品有望系统性重估，需求稳定增长、供给弹性受限。

港股概念追踪 | 黄金价格创下历史新高  机构认为铜铝赔率更大（附概念股）

BILIBILI-W surged over 10%, reaching a 10.85% increase to HKD 92.45 at the time of publication, with a trading volume of HKD 2.26 billion. On the news front, Bilibili recently disclosed its financial report for the fourth quarter and full year of 2023. The total annual revenue for Bilibili in 2023 reached RMB 22.53 billion, with a total revenue of RMB 6.35 billion in the fourth quarter. The gross profit margin has increased for six consecutive quarters to 26.1% on a quarter-on-quarter basis, and the adjusted net loss has significantly narrowed by 58% year-on-year. In the fourth quarter, the net operating cash flow was RMB 640 million, achieving positive operating cash flow for the full year. Zhongjin Securities pointed out that the company's advertising infrastructure continues to improve, and its growth potential is expected to be further unleashed. During the performance meeting, the company stated that advertising revenue in 2024 is expected to maintain a high year-on-year growth rate. They plan to integrate the advertising delivery system, focus on improving delivery efficiency and community scene penetration, and release more advertising inventory. Additionally, there may be new highlights in the trading model for 2024. Furthermore, the company may gradually clarify the structure of its gaming business, advance the progress of core self-developed projects, and promote the performance of agent products going online within the year.

Hong Kong Stock Market Update: BILIBILI-W surged over 10%, with gross profit margin increasing for 6 consecutive quarters. Annual operating cash flow turned positive.

ARK's investment in Archer has currently reached around 10%. However, after the Grizzly's short report was released, Archer's stock price has cumulatively dropped by about 30%.

ARK vs Grizzly! "Wood Sister" supports eVTOL leader Archer.

港股回港中概股多数上涨，哔哩哔哩涨超 10%，京东涨超 7%，华住集团涨近 4%，蔚来汽车、阿里巴巴、小鹏汽车、微博涨超 2%。

XIABUXIABU issued a profit warning, causing a plunge of over 16% in the morning session, hitting a new low of HKD 1.48. As of the time of writing, it has dropped by 14.61% to HKD 1.52, with a turnover of HKD 102.062 million. According to the announcement, XIABUXIABU expects its annual revenue for the year ending December 31, 2023, to be around RMB 5.9 billion, representing a YoY increase of about 25%. Compared to a net loss of approximately RMB 331 million in 2022, it is expected to narrow its net loss to between approximately RMB 180 million and RMB 200 million in 2023, an improvement from the previous year. The announcement stated that the net loss recorded last year was mainly due to cautious review of expected closures and continued loss-making restaurants, with impairment losses on related assets not exceeding RMB 160 million; deferred tax assets of some subsidiaries decreased by about RMB 60 million; intense competition and weak consumption in the catering market, coupled with consumption downgrading, have impacted its business profitability.

Hong Kong Stock Market News | XIABUXIABU plunges 16% to a new low after issuing a profit warning, expecting the annual net loss to narrow to around 180-200 million yuan YoY.

BOYAA opened significantly higher by over 13%, rose by 13.87% to HKD 1.97, with a turnover of HKD 2.38 million. BOYAA plans to expand its reserves of cryptocurrencies and invest in and layout business in the Web3 field. The company has purchased 1,110 bitcoins, 14,855 ethers, and approximately 8 million Tether coins. The price of Bitcoin is expected to continue to rise, and bullish options in the options market remain popular.

Hong Kong Stock Market Update: BOYAA opened significantly higher by over 13%. The board of directors is seeking authorization to continue purchasing cryptocurrencies with a total amount not exceeding 100 million US dollars.

比特币一度突破 7 万美元，再创历史新高。近日持续大涨的博雅互动今早再度高开 13.87% 报 1.97 港元，最新市值 13.98 亿港元；博雅互动月内累涨 93%。

港股博雅互动高开近 14%，此前比特币一度突破 7 万美元

Some analysis indicates that as the weekend approaches, traders have started to exercise bullish options on NVIDIA, prompting options dealers to hedge by selling NVIDIA stocks, leading to the selling pressure on Friday.

NVIDIA's Friday stock crash, is it due to options trading?

Reddit Inc. is reportedly aiming to raise $748 million in its upcoming IPO, which could make it one of the largest IPOs this year. The company plans to sell 22 million shares priced between $31 and $34, valuing the company at $6.5 billion. The IPO will include shares for early users and moderators, with no lockup period. Leading financial institutions such as Morgan Stanley and Goldman Sachs are involved in the IPO.

Reddit Eyes Mega IPO, Aiming To Raise $748 Million

比特币短线一度跳水超 1000 美元，最低至 67061 美元/枚；以太坊短线下跌 100 美元，最低至 3733 美元/枚。

比特币向下触及 68000 美元/枚，日内跌 2.13%。

比特币突破 100 万美元的时间将大幅提前。方舟投资管理公司创始人凯茜·伍德表示，美国 SEC 批准第一批现货比特币 ETF 以及这些 ETF 创纪录的表现加速了比特币升值时间表。由于对机构参与的新预期，ARK 公司认为到 2030 年达到 100 万美元的目标过于保守，将前景修正为远高于最初估计的数字。虽然没有给出确切数字，但比特币的增量价格假设可能会增加一倍以上。

“木头姐”：比特币突破 100 万美元的时间将大幅提前

The U.S. stock market has started daylight saving time. NVIDIA's sharp rise has raised concerns for the "Stock Goddess". Morgan Stanley: AI infrastructure is just beginning, NVIDIA is not Cisco. ByteDance responds to rumors of former Blizzard CEO negotiating to acquire ByteDance: it's not true. BIDU-SW's Robin Li says that in terms of Chinese language processing, Wenxin's Large Model 4.0 has surpassed GPT-4. A property under Hongkong Land was sold out in a single day. Bitcoin briefly surpassed $70,000, with options betting now looking towards $100,000. Bill Ackman is considering buying Bitcoin.

Breakfast | SPDR S&P 500 issues overbought warning, intense debate on NVIDIA stock outlook.

Novo Nordisk AS's self-developed weight-loss drug Wegovy is expected to obtain market approval in China this year. The company's stock price rose by 8.95% on Friday, reaching a market value of $606.6 billion, surpassing Tesla. In addition, Novo Nordisk AS's weight-loss drugs Ozempic and Rybelsus have already been approved for the Chinese market. The company also released the clinical trial results of the new drug amycretin, showing a more significant weight loss effect. Novo Nordisk AS is actively developing other weight-loss drugs and plans to enter the clinical stage within the next year.

Hong Kong Stock Concept Tracking | "Weight-loss Miracle Drug" to be Listed Soon! The domestic GLP-1 industry is about to enter a harvest period (with concept stocks attached).

比特币减半事件有望在 2024 年将比特币价格推高至 11.5 万美元以上。历史数据显示，比特币减半后的一年内平均飙升了 400%。根据比特币在 4 月减半时是否达到 6.9 万美元，预测未来将达到 11.5 万美元价格。减半会减少新比特币供应量，如果需求保持不变或上升，可能会推高比特币价格。然而，并非所有人都看好减半催化剂。

CoinLedger：比特币减半在即，有望助推价格站上 11.5 万美元高点

根据给定的新闻信息，可以将其归类为金融相关信息。根据中金公司研报，预计二季度金融流动性的紧缩可能给美股带来 8% 左右的回撤压力，纳斯达克面临更大的压力。该报告认为，目前美股的点位已经偏高，加上可能出现的流动性压力，短期债券和长期股票的配置策略较为合适。同时，对于美债来说，风险偏好回落、美债发行规模下降和降息预期反而利好。

中金：测算二季度金融流动性紧缩或造成美股 8% 左右的回撤压力，纳斯达克压力更大

围绕美股 “七巨头” 的泡沫可能已经减弱！为什么？特斯拉、苹果、谷歌年内大跌意味着什么？还有哪些现象可以消除投资者对泡沫的担忧？

理解市场 | 美股真的有泡沫风险吗？四张图看懂！

极氪新款 001 上市十天突破 1.5 万台大定单，预计本月底将破三万。该车价格从 26.9 万元起，配备 800V 平台、快充电池、8295 智舱芯片、激光雷达，并优惠 3.1 万-6 万元。订单量证明了极氪的品牌与产品力依旧强劲，短期内需求困扰被解决。极氪希望新 001 能助力其在竞争激烈的市场中突围，同时也将专注于 SUV 与轿车领域的销量释放，为即将上市的紧凑型 MPV 打前锋。极氪 CEO 定下了 24 万台的 KPI，并计划 IPO 上市。极氪的目标是在 2024 年展现出更大的优势。

极氪 “王牌军” 杀回来了

趁着人工智能繁荣，英伟达等成为赢家，带动美股基准股指不断创新高。在美国股市的中心，一个不那么引人注目的现象正在展开：投资者资金大规模下沉到那些业绩暗示股市将归于持久冷静的投资策略。Global X ETFs 汇编数据显示，卖出期权类 ETF 规模在最近两年增长三倍，刷新历史最高至 640 亿美元。

在 AI 繁荣推高英伟达的同时，数十亿美元资金涌向沽空波动性的 ETF

Riding on the AI trend, strengthen the "moat" of the strong further widening.

Selling Samsung Electronics and buying Micron, is the market considering Micron the winner in HBM?

比特币再次站上 70000 美元/枚，日内涨 2.09%。

UBS pointed out that the possibility of canceling negative interest rates in April is higher, but the market may have been conservative in its expectations for the Bank of Japan's interest rate hikes this year.

Salary increase approaching 5%? UBS predicts that "Spring Struggle" may exceed expectations, significantly impacting the Bank of Japan.

黄金价格创历史新高，值得注意的是，各类资产的波动率本周开始明显抬升。

金银涨幅霸榜，全球芯片 LOF 一周涨超 18%｜海外大类资产周报

The content is of average value, but it mentions the highest priority elements.

Track Hyper | How did AMD increase its market share in discrete graphics cards?

股市的增量资金主要来自险资，其对市场风格的影响需重点关注。活跃资金中的两融和私募是科技成长方向的重要增量，而外资和保险则是机构投资者加仓的主要方向。险资增配权益资产的意愿抬升，预计险资将成为未来一段时间最具确定性的增量。保险资金将是今年市场的重要增量，由于股权风险溢价回升和长端利率回落，险资增配权益资产的意愿预计将保持较高水平。预计全年保险资金将为 A 股市场贡献...

股市的增量资金从哪儿来？

比特币最大多头之一、Microstrategy 创始人兼执行董事长迈克尔•塞勒提出与阿克曼直接讨论这个问题。迈克尔•塞勒回应称，“你应该买一些比特币，但不是出于上述原因，大多数比特币矿工正在降低其他消费者的电力成本，而不是提高。如果你想一对一讨论，请告诉我。”

Microstrategy 创始人塞勒回应阿克曼考虑买入比特币

对冲基金大鳄阿克曼表示考虑买入比特币，预测比特币价格可能会大幅上涨。他认为比特币价格上涨会导致能源成本推高、通胀上升和美元贬值，进而推动对比特币和能源的需求增加。阿克曼认为比特币具备无限潜力，但也指出一切都可能反转。这则消息属于投资研究相关信息。

对冲基金大鳄阿克曼称考虑买入比特币

非农就业超预期是真的强吗？

J.P. Morgan predicts that Vietnam's "Emerging Market Dream" coming true will bring in $500 million in passive fund inflows to the Vietnamese stock market.

The key to the direction of the Vietnamese stock market: Inclusion in the FTSE!

比特币短线走高超 500 美元，突破 69000 美元/枚，日内涨 1.02%。

谷歌工程师预测，人工智能（AI）将在 2029 年实现通用人工智能（AGI），并在五年内通过人类测试。这一预测与英伟达 CEO 黄仁勋的观点一致。黄仁勋表示，如果将 “像人类一样思考的计算机” 定义为通过人体测试能力，那么 AGI 将很快到来。他相信，AI 将能够在五年后通过各种测试，包括专业医疗测试。此外，黄仁勋还讨论了晶圆厂的需求和 AI 产业的扩张。

谷歌工程师硬核长篇预测，证实黄仁勋观点：AGI 或在 2029 年出现，AI 五年内通过人类测试

During the dot-com bubble in 2000, Cisco's revenue growth rate reached 59%, with a forward P/E ratio as high as 138 times. Nowadays, NVIDIA's P/E ratio is only 30 times, but its revenue growth rate has reached 90%.

Morgan Stanley: The AI infrastructure is just beginning, NVIDIA is not Cisco, far from 1999.

Morgan Stanley has observed that the innovation speed of generative AI tools is accelerating. According to Sam Altman from OpenAI, GPT-5 is expected to achieve a significant leap in functionality, similar to the transition from OpenAI to GPT-4.

Summary of Morgan Stanley TMT Conference: The Early Stage of the Big Opportunity in AI

黄金价格快速上涨并创历史新高，引发市场关注。传统解释不足以解释这一现象，因为美债利率和美元指数回落并不明显，且市场风险偏好较高。央行购金可能不是导致金价上涨的主要原因。黄金和比特币作为替代品受益于发达国家政府负债对货币信用的冲击。比特币涨幅更大，原因包括 ETF 上市和挖矿奖励减半预期。

传统指标无法解释的黄金新高

Facing concerns about slowing growth, intensifying competition, and the emerging "fear of heights" sentiment in the market, is NVIDIA's brilliance fading away?

Finally, NVIDIA has crashed!

美国 ETF 市场规模为 8.15 万亿美元，数量超过 3400 只。按投资策略来看，追踪指数型、指数增强型、主动管理型分别占比 74%、19% 和 7%。美股 ETF 的成交量占股市成交量比重达到 30% 左右，高于欧洲和亚太地区 13%-15% 左右的比例，市场流动性、透明度和定价效率较高。

国信证券：美国 ETF 市场规模大 流动性强 权益类 ETF 占据主导地位

比特币价格首次触及 7 万美元，尽管有所回落，但仍呈上升趋势。近期在期权市场上，押注比特币进一步升破 8 万美元乃至 10 万美元的看涨期权持续受热捧。根据数据，80000 美元和 100000 美元的比特币看涨期权的未平仓合约数量在过去 24 小时内大幅上升。

比特币史上首次触及 7 万美元：期权押注已看向 10 万

Three safety incidents involving Boeing aircraft this week have once again plunged Boeing into a reputation crisis.

Another Boeing aircraft incident this week! Engine caught fire, slid off the taxiway, and lost a tire.

比特币在美国早盘交易中一度突破 7 万美元，刷新了纪录。然而，随后出现抛售，价格下跌超过 3%。比特币看涨期权市场活跃，名义未平仓合约已超过 2000 万美元。由于华尔街对比特币 ETF 的青睐，比特币供需平衡增至 1:10。比特币今年上涨 59.7%。

比特币一度突破 7 万美元 投资者押注 20 万美元看涨期权

Daqo New Energy(DQ) rose 8.47%, with a trading turnover 77.1 Million USD, and a year-to-date rose 5.5%. Opera(OPRA) rose 7.95%, with a trading turnover 65.8 Million USD, and a year-to-date rose 21.7%. Jin Medical(ZJYL) fell 23.91%, with a trading turnover 6.1 Million USD, and a year-to-date fell 43.6%. JOYY(YY) fell 6.91%, with a trading turnover 55.5 Million USD, and a year-to-date fell 25.7%.

Top 5 CDRs Gainers/Losers (>100M) (3.8)

BigBear.ai(BBAI) fell 31.65%, with a trading turnover 106.2 Million USD, and a year-to-date rose 20.1%. Macrogenics(MGNX) fell 15.02%, with a trading turnover 80.7 Million USD, and a year-to-date rose 81.2%. Petroleo Brasileiro SA(PBR) fell 11.5%, with a trading turnover 1.5 Billion USD, and a year-to-date fell 7.5%.

Top 10 US Stock Losers (3.8)

Nextera Energy(NEE) rose 2.74%, with a trading turnover 725.6 Million USD, and a year-to-date fell 4%. Comcast(CMCSA) rose 2.01%, with a trading turnover 763.5 Million USD, and a year-to-date fell 2.2%. Costco Wholesale(COST) fell 7.64%, with a trading turnover 6.3 Billion USD, and a year-to-date rose 10.1%. Broadcom(AVGO) fell 6.99%, with a trading turnover 9.9 Billion USD, and a year-to-date rose 17.2%.

Top 5 US Stock Gainers/Losers (>100B) (3.8)

Smith &amp; Wesson Brands(SWBI) rose 29.39%, with a trading turnover 74.6 Million USD, and a year-to-date rose 28.2%. Samsara(IOT) rose 13.97%, with a trading turnover 677.8 Million USD, and a year-to-date rose 17.3%. HCI(HCI) rose 13.85%, with a trading turnover 79.2 Million USD, and a year-to-date rose 29.8%.