Nvidia falls about 10% in the morning, revealing weaknesses in the financial results. The ISM Manufacturing Business Conditions Index falls short of expectations, causing new economic concerns.

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U.S. August ISM Manufacturing Index suggests accelerating stagflation.
The August ISM Manufacturing Purchasing Managers' Index (PMI) released by the Institute for Supply Management (ISM) improved from a record low of 46.8 in July to 47.2, falling below expectations. It marked the fifth consecutive month of contraction, with declines in key areas such as new orders and production leading to an overall decrease in the index.
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The US manufacturing PMI was 47.2 in August, marking the fifth consecutive month of contraction.

Nvidia's stock fell by approximately 10%, resulting in a loss of over 40 trillion yen in market capitalization. The company's weak points were revealed in its earnings report, leading to market opportunities for its competitors.
● Leading semiconductor companies $NVIDIA (NVDA.US)$On the 3rd, it fell by 9.5%, reaching the lowest level in the past 3 weeks. As a result, the market capitalization of $278.9 billion was wiped out, moving away from the $3 trillion mark.
●Nvidia received a document submission order from the US Department of Justice:The US Department of Justice sent a document submission order to the semiconductor giant Nvidia, intensifying its antitrust investigation into the company, as reported by Bloomberg. Nvidia's stock fell in after-hours trading following the report of the document submission order.
●Impact of Q3 earnings forecast on stock prices: The Q3 revenue forecast is $32.5 billion, but it has the lowest growth rate in the past 1.5 years, which has impacted the stock price.
●Blackwell product delays and their market impact: The release of Nvidia's Blackwell products was delayed by about 8-12 weeks, which affected the stock price. Concerns were raised especially about the impact on revenue due to the delay in product production. The current Hopper generation product is expected to maintain its market leadership in the coming quarters as well.
●Market Opportunities for Competing Companies:Due to delays in Blackwell, market share opportunities have arisen for competing companies such as AMD and Intel. In particular, AMD's MI300X product is receiving attention.
Nvidia receives a subpoena from the Department of Justice amid intensifying antitrust investigations.

Performance of Other Major Semiconductor Stocks
$Intel (INTC.US)$decreased by 9%, $Advanced Micro Devices (AMD.US)$decreased by 8%, $Taiwan Semiconductor (TSM.US)$decreased by 6.5%. $KLA Corp (KLAC.US)$etc $Applied Materials (AMAT.US)$Semiconductor equipment manufacturers

Super Micro Corp. disputes the short sell report as 'misleading' and the stock price rebounds.
Super Micro's stock price temporarily rose by 3% on Tuesday morning, becoming one of the best performing stocks in the S&P 500.
● $Super Micro Computer (SMCI.US)$Explains to customers and partners about the delay in submitting the 10-K report. It declares that the annual report is not significantly different from the performance of the latest fiscal year that has already been reported.
CEO Charles Liang stated that he has strong confidence in the financial team and internal team, aiming to provide reassurance to customers and partners.
Mr. Liang countered criticisms related to accounting from Hindenburg last week, stating that there is misinformation and misleading information. He mentioned that they will respond at the appropriate time.
Super Micro has established a financial management investigation committee. Mr. Ryan guaranteed that there would be no changes in customer experience or service quality, and stated that the company will continue to grow and expand.

Tom Lee predicts a maximum 10% decline in stock prices in 8 weeks - a good opportunity to buy on the dip.
Tom Lee from Fundstrat stated that there is a possibility of a maximum 10% decline in stock prices in the next 8 weeks.
Lee pointed out that the market has been very strong this year, but the September Fed rate cut and elections could be potential sources of uncertainty. He mentioned that investors should be cautious ahead of the Fed rate cut and elections.
Lee sees this decline as a great opportunity to buy on the dip.
Lee believes that the S&P 500 could reach 15,000 by 2030 and maintains an optimistic view on the long-term strength of the market.

Berkshire Hathaway, led by Warren Buffett, reaches record high stock price despite headwinds.
$Berkshire Hathaway-A (BRK.A.US)$The stock price of Berkshire Hathaway continues to rise despite market headwinds, with both Class A and Class B shares closing at all-time highs. The year-to-date increase exceeds 30%. Last week, the company's market capitalization surpassed $1 trillion for the first time, making it the seventh publicly listed company in the U.S. stock market to exceed a market capitalization of $1 trillion.

Boeing falls 7%, analysts lower target stock price to $119, lowest level on Wall Street = individual U.S. stocks
$Boeing (BA.US)$Declined. Analysts lowered their investment rating to "sell" and also lowered the target stock price from the previous $185 to $119. It is 31% lower than the closing price before the holiday, reaching the lowest level on Wall Street. They point out the risk of the company's cash loss. They presented a model indicating that the free cash flow per share will peak in 2027, and noted that development costs will offset production growth. They also mentioned the impact of further dilution through additional equity issuance.

Energy stocks stand out with a decline as oil prices briefly plummeted to around $70. Expectations for the resumption of oil production in Libya are impacting individual U.S. stocks.
Today, the decline in energy stocks is noticeable. In addition to risk aversion, the sharp drop in oil prices to around $70 has led to the decline in energy stocks. The power struggle in Libya, where the government is divided east and west, continues. It seems that an agreement that would resolve the issues and lead to the resumption of oil production is imminent. The western government of Libya decided to dismiss the central bank governor, Kabir, and the backlash from the eastern government, which resulted in a reduction in oil production.