PDD Holdings drops, chip stocks down

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💡Summary: • PDD, the owner of the popular TEMU shopping app, fell 7.2% amid a new short call from Grizzly Research. • Grizzly Research allege Show More

💡Summary:
• PDD, the owner of the popular TEMU shopping app, fell 7.2% amid a new short call from Grizzly Research.
• Grizzly Research alleges that PDD's shopping app TEMU is a form of "malware/spyware" in the short report.
• The drop follows chip stock declines after China restricted Apple devices.

Seeking Alpha reported that PDD($PDD Holdings (PDD.US)$) faced a decline after a short report pointed fingers at the Chinese-based shopping app Temu. The report claimed the app collects unneeded data and obfuscates app store protocols. In the report, Grizzly notes the practices are similar to Amazon and eBay data collection, two giant American e-commerce sites.

The report rallies on recent China-US tech tension, but the fears are not confirmed. The Wall Street Journal also reported the recent trend of sagging share prices for market leaders extends into Thursday morning, and it’s not just Apple($Apple (AAPL.US)$).

The PHLX Semiconductor Sector index dropped 3% shortly after the opening bell, while individual chip stocks are prominent among S&P 500 laggards. Qualcomm and Monolithic Power Systems each fell nearly 5%.

The chip index is up about 40% so far this year. But fortunes have turned lately: the index is down more than 5% over the past month. Nvidia($NVIDIA (NVDA.US)$) recently fell 3.3%.

As the stock climbed after earnings, investors in Nvidia were worried that the AI boom may be oversold, and would not be able to reach its projected revenue guidance for the next quarter.

🎙️Q:
1. Is the PDD dip a buy?
2. How has the Apple and chip stock decline affected your portfolio?

View disclosures here.

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battle512

Sep 12, 2023 10:44

way undervalued

PDD Holdings drops, chip stocks down

Mars Mooo

Sep 10, 2023 01:42

Good Vibes Snapshot Series: Pinduoduo

Bonjour Mooers!
Here are 3 reasons why Pinduoduo ( $PDD Holdings (PDD.US)$ ) remains attractive.
1. PDD revenue has been growing since 2018, from 13.12 billion in 2018 to 130.56 billion in 2022.
2. The founder and former CEO of the e-commerce company continue to stay committed by being the largest individual shareholders.
3. Thirteen analysts gave it a 'Strong Buy' rating as of 31 August 2023.
Hmm... I wonder Mooers are bullish or bearish on PDD?...

PDD Holdings drops, chip stocks down

Xamun Ya

Sep 7, 2023 22:41

WTF

yo landline

PDD Holdings drops, chip stocks down

101721316

Sep 7, 2023 15:11

$Apple (AAPL.US)$ use to be a great investment but now hahaha

PDD Holdings drops, chip stocks down

JjSs

Sep 7, 2023 15:06

PDD iphone13 $2 a piece!

$Apple (AAPL.US)$

PDD Holdings drops, chip stocks down

MonkeyGee

Sep 7, 2023 14:51

China bands apple for government use. Is Tesla next?

$Apple (AAPL.US)$ $Tesla (TSLA.US)$

PDD Holdings drops, chip stocks down

luckyg74

Sep 7, 2023 14:18

$Apple (AAPL.US)$ I might just be paranoid but it just seems kinda odd that China was buying more iPhones than Americans were until like 24% of apples iphone business was coming from China in Q2 but now the Chinese government don't want an iPhone even in there building like they're trying to make it look like iPhone (an American product) are listening to there conversations and at the same time like magic this new phone the mate 60 (a Chinese product) just so happens to have some kinda satelli...

PDD Holdings drops, chip stocks down

Stocksgoup : It's pretty normal for trade war, we banned alot of China stuff as well. We banned Huawei ourselves not too long ago lol.
I just hope US and China will just stop this and finally get along..

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luckyg74 OP : ya but the US ban Huawei an said it was for national security reasons even put em on the black list so they couldn't buy the newest tech, you see what they did there new phone don't even have 5g so they had to improvise maybe the US government won't use these phones but the rest of the world will. China is smart they made a phone that is competing with the iPhone and they don't even have the tech and the day there phone comes out China bans iphones in there government not even in the whole country and Apple stock drops 4% and the black list phone sales out in stores the same day somethings up with that it would be different if they didn't already have a phone with satellite capabilitys that was ban by the US government for national security and put on the black list, ready to go the same day they ban iPhone idk that just seems like to much of a coincidence to be just 2 businesses going to war it sounds more like 2 countries that do business with each other are getting pissed of at each other like lil kids, one poked the other one then the other one poked back, so the one shuves the other one and the other one shoves back, next the ones gonna punch the other one in the face an the other ones gonna punch back then they'll be fighting lol

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luckyg74 OP : I'm still betting on the iPhone 15 to come out on top its still got the latest technology so no matter what it still will be more advanced wich puts the odds in its favor but if it does do better then china's phone china's gonna get pissed off an ban something else or do something ether to hinder apple or ban something completely different that's why I say it's more like county's pissed off at each other rather then 2 businesses competing to see witch product will be better idk it just seems deeper to me then that

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293818732 Stocksgoup : Yes, the trade war has a certain impact on the economy, and the most direct economic impact is mine

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