BofA expects Apple's revenue for the quarter ending December 2026 to be significantly below market consensus, while rising memory costs will also compress gross margin; the bank lowered its full-year iPhone sales forecast but maintained its Buy rating.
Anthropic has secured commitments for five-year compute lease financing. In addition to equipment sales, Broadcom will receive fees but expects to assume 43 billion dollars in additional peak contingent support.
Weather and retail electricity consumption drove Entergy’s third-quarter earnings above expectations; the company slightly increased capital spending through 2030, with data-center demand remaining a potential source of additional growth.
Central bank and gold ETF buying recovered in the third quarter, but high gold prices depressed jewellery consumption. The US copper mine project pipeline expanded, with most new supply due after 2030; smelting capacity remains a bottleneck.
The report reviews market themes surrounding the US midterm elections, gold demand and AI content production, while tracking power semiconductor price increases and indium phosphide substrate orders.
On 4 November, the SSE STAR 50 Index rose nearly 10%, while turnover on the Shanghai and Shenzhen exchanges increased by 334.3 billion yuan from the previous trading day. Among stocks on the trading disclosure lists with institutional net purchases exceeding ten million yuan, Quectel and Piotech ranked near the top, while institutions were net sellers of some strong semiconductor stocks over the same period.
Suochen Technology has established two product lines, “Tiangong” industrial software and “Kaiwu” physical AI, and is participating in the joint development of an experimental base, providing simulation software and supporting toolchains.
Soochow Securities is optimistic about AI-driven demand for electronic measurement; Huaxi Securities expects Jingyi Equipment to benefit from memory capacity expansion, while its new vacuum pumps are undergoing production-line validation.
Qualcomm will publicly showcase a 6G terminal prototype, while China Securities expects large-scale network construction to begin as early as 2029; five government departments are advancing energy-saving infrastructure upgrades, and technology growth stocks led the A-share market higher on 4 November.
On 4 November, higher afternoon trading volumes in broad-market ETFs helped lift indices and technology stocks generally strengthened, but sentiment-driven stocks showed limited independent momentum. Cailian Press believes the style rotation still needs a transition period and is watching semiconductors, robotics and new energy.
Yahoo's morning show noted that AMD's 97% year-over-year growth in data center revenue should have been a headline, but was buried by election news. A week earlier, Intel's data center business had shown strength, yet its shares fell by roughly a quarter; the difference lay in forward guidance and order backlog.
Jeff Snider, founder of Eurodollar University, warns that the credit cycle has turned, private credit fraud and the energy shock are pushing concerns into public credit markets, and the AI boom is first and foremost a debt story.
Ramp Chief Economist Ara Kharazian cites data covering 80 thousand businesses and over 275 billion dollars in annual spending to show that 1% of businesses account for 80% of AI spending, while the heaviest adopters are slowing their spending.
Uber CEO Dara Khosrowshahi said gross bookings grew 20% year over year this quarter on a base of 60 billion dollars, with demand exceeding supply as the central challenge. Uber has committed approximately 10 billion dollars to autonomous driving, and more than 2000 autonomous vehicles will be on its platform next year.
Oaktree Capital’s David Rosenberg says voters do not want data centers in their backyards. Existing data center debt yields about 8%–9%, and new debt will probably need to yield above 10% to attract buyers. Now is the bond market’s time.
Ralph Schlosstein, chairman emeritus of Evercore, says the election was a vote for the political center and checks and balances, and that major strategic deals should be pursued within the regulatory window over the next two years. But the US fiscal trajectory is completely unsustainable, and the bond market will ultimately trigger an adjustment.
AMD Chair and CEO Lisa Su says third-quarter data center revenue grew more than 40% year over year, and demand exceeds supply. Next year, the company's overall business will grow more than 80% and its data center business more than 100%.
DoubleLine’s Tim Paulson reviews the Federal Reserve’s decision to hold rates: a rate hike in December has been floated, but it would not start a major tightening cycle. Interest rates at 5% are normal; what is abnormal is an annual deficit of 2 trillion dollars.
Goldman Sachs President John Waldron says U.S. nominal growth is expected to exceed 6%, with real growth around 2.5%. Corporate M&A is growing 30% to 35% this year, making it a record year.
Fundstrat’s Tom Lee says the autumn correction is nearing its end and the S&P could reach 8200 to 8400 by year-end; AI is not yet a bubble, and the real risk is innovation stagnating.
