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Citi: Don't panic about the sharp decline in chip stocks, now is a good time to buy.
Citibank pointed out that although there has been a sharp decline in US chip stocks, this is mainly due to macroeconomic factors and high expectations. Semiconductors markets are still bullish, mainly because the demand for AI and storage markets remains strong. It is expected that DRAM prices will increase by 62% YoY in 2024, and Micron's performance guidance may be revised upward.
Palantir Co-Founder Joe Lonsdale Concurs On AI Not Driving Immediate Growth: 'We've Failed So Far Because It's Not Impacting The Entire Economy Right Away'
Apple will sell the smallest Mac computer ever this autumn - the new Mac Mini with M4 chip, welcoming AI features.
This is also the first major design change for the Mac Mini desktop computer since the era of Steve Jobs. Its appearance will be reduced to the size of an Apple TV set-top box, and developers have called it the "iPad Pro in a small box." Apple plans to replace all Mac computers with M4 chips by next year, and the introduction of AI functionality is a major selling point, hoping to revive sales.
S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
Amazon to Let TikTok Users Shop Select Products Without Leaving the Video App - Report
Apple has changed the terms of the App Store agreement, allowing European developers to promote their products outside the ecosystem.
To comply with the EU's Digital Markets Act, Apple has changed its App Store terms and conditions to allow European developers to promote and sell products outside its ecosystem, and these new rules will take effect this autumn.