According to the media, Apple's previous target time for launching its self-developed baseband chip has been postponed to next year, and later extended to spring 2025. Now it seems that this goal may not be achievable, and it may take at least until the end of 2025 or the beginning of 2026. Currently, Apple's baseband chip is still in the early stages of development, and researchers believe that the initial version may lag behind competitors by several years.

Apple's "Chip Swap" plan for 2025 may fall short as the company has invested billions of dollars but still lags far behind its competitors.

Alibaba's management team announced during the second quarter earnings conference call that Alibaba Cloud will no longer pursue a complete spin-off, and the listing of Hema will be temporarily suspended. At the same time, Alibaba will implement an AI-driven strategy prioritizing public cloud, increase investment in AI-related hardware and software, especially in the Taobao and Tmall businesses. In the future, Alibaba will leverage the Choice business to drive platform growth and has announced the first batch of strategic innovative businesses.

Alibaba conference call: Strategic considerations do not involve the separation of Alibaba Cloud. Instead, an AI-driven approach and a priority strategy for public cloud will be adopted. The first batch of strategic innovative businesses has been announced.

Alibaba's spin-off listing faces obstacles.

Alibaba has disclosed on the official website of the U.S. Securities and Exchange Commission (SEC) a notice of proposed securities sale, document number 144, which shows that JC Properties Limited and JSP Investment Limited, companies under the Ma Yun family trust, plan to convert their respective holdings of 5 million Alibaba ADS into freely tradable shares and plan to sell them next Tuesday (the 21st), involving a market value of approximately 8 million dollars.

Ma Yun's family trust holding company announces plans to reduce its stake in Alibaba by 10 million ADS shares.

阿里巴巴：董事会批准 2023 年年度现金股息每 ADS 1 美元。

36 氪获悉，11 月 16 日，阿里巴巴集团财报披露，鉴于多方面不确定性因素，不再推进云智能集团的完全分拆。同时，阿里巴巴将坚决加大对阿里云的持续战略投入，确保阿里云专注于 “AI+ 云计算” 发展战略，打造 AI 时代技术领先的云计算服务。

阿里巴巴：坚决加大对阿里云战略投入，不再推进完全分拆

Nov 16 (Reuters) - China’s Alibaba Group Holdingreported second-quarter revenue on Thursday that was in line with analysts’ estimates as the country’s retail sector recovers from the effects of pandemic-fueled lockdowns.
The Chinese e-commerce giant posted revenue of 224.79 billion yuan ($31.01 billion) in the quarter, compared with analysts’ average estimate of 224.32 billion yuan, according to LSEG data.
($1 = 7.2481 Chinese yuan renminbi)

Alibaba quarterly revenue in line with expectations

阿里巴巴美股盘前跌超 5%，公司第二季度营收 2,247.9 亿元。

阿里巴巴：盒马鲜生的首次公开募股计划已暂停，我们正在评估市场情况。

国泰君安表示，造车初期流量 + 生态 + 渠道协同是小米汽车的优势所在，作为具备强大流量群体的消费电子龙头，小米客户基础叠加智能生态和渠道优势令小米汽车表现值得期待。

小米造车版图有多大？多家公司回应合作关系，券商看好车机生态协同

In the third quarter, net revenue from gaming and related value-added services reached RMB 21.8 billion, representing a YoY growth of 16.5%.

CLOUD MUSIC's Q3 revenue growth of 11.6% met expectations, with a steady performance in the gaming business. Although CLOUD MUSIC's revenue declined, gross profit improved. | Earnings Report

据 144 文件显示，马云家族信托 JC Properties Limited(一家英属维尔京群岛公司) 和 JSP Investment Limited(一家英属维尔京群岛公司) 拟于 11 月 21 日分别减持 5,000,000 股阿里巴巴创始人股份。共涉及股票市值 8.707 亿美元。

马云减持阿里巴巴？

美方应该意识到重蹈覆辙的危害；美方参会人员凸显对华认知新变化；美方打 “台湾牌” 的空间越来越小；元首会晤同步驱动多领域合作；呼吁合作的声音越来越多。

热解读：中美元首会晤需要关注的 5 个信号

金十数据 11 月 16 日讯，11 月 16 日，支付宝客服官博发文称，今天下午，少量用户访问支付宝会员频道不太顺畅，情况很快已修复。

支付宝回应会员服务 “崩了”：情况很快已修复

OpenAI is not the kind of place where there are still a bunch of people working at 2 a.m.

Learning Management with OpenAI: How was the strongest product of 2023 created?

港股收盘，恒指收跌 1.36%，科指收跌 1.85%；石药集团、小米集团均跌超 5%，药明生物、李宁、蒙牛乳业、华虹半导体均跌超 4%。

11 月 16 日，理想汽车官微发布消息称，理想 MEGA 将于 2023 年 11 月 17 日 9:40 开启预订。理想 MEGA Max 预计售价 60 万元以内，正式售价将于 2023 年 12 月发布会上公布。理想 MEGA 交付将于 2024 年 2 月下旬开启。

理想汽车：理想 MEGA Max 预计售价 60 万元以内

According to the disclosure from the U.S. Securities and Exchange Commission, Morgan Stanley has submitted its third-quarter holdings report as of September 30, 2023.

Morgan Stanley reduces holdings in Microsoft and NVIDIA, while increasing holdings in Meta and Eli Lilly in Q3.

当地时间 11 月 15 日晚，美国特斯拉公司首席执行官、太空探索技术公司首席执行官埃隆·马斯克在接受新华社记者采访时说：“我对中美关系未来发展满怀希望，希望中美携手促进地区繁荣。

马斯克：期待中美携手促进地区繁荣

据外媒报道，苹果 CEO 库克表示，越南市场是公司战略的一部分。

陈志立表示，明年 MSCI 香港指数目标定为 9500 点，恒生指数定为 20600 点，明年看好基建及澳门博彩股，预计后者能受惠于旅游复苏。

瑞银：明年恒指目标升至 20600 点 看好基建及澳门博彩股

美国银行首席投资策略师 Michael Hartnett 认为，有充分的理由对近期前景保持乐观。

美股年底反弹预期升温 美银推荐这两只油气股

路透香港 11 月 16 日 - 投行瑞银周四称，在弱美元和降息环境下，预计资金在明年将重返香港市场，以 MSCI 香港或恒生指数 (.HSI) 计的潜在回报达中双位数。

香港股市明年有望迎来资金回流，并带来中双位数回报 -- 瑞银

高盛图表显示了 “壮丽七巨头” 在 2023 年是如何主导美国股市的。

高盛：“壮丽七姊妹” 2023 年撑起美股，2024 年有望继续领跑

* 中金下调京东目标价至 40 美元 第四季收入利润仍有压力

* 中金下调京东目标价至 40 美元  第四季收入利润仍有压力

习近平：我相信，中美关系的大门一旦打开，就不会再被关上。两国人民友好事业一经开启，就不会半途而废。人民友谊之树已经长大，一定能经风历雨。（央视新闻）

习近平：中美关系的大门一旦打开，就不会再被关上

摩根士丹利经济学家对美元在明年的前景进行了评估之后表示，预计美元的强势还将持续一段时间。

大摩经济学家：美元将在 2024 年初保持强势 美联储将于明年年中开始降息

11 月 16 日，一个月及以下各期港元拆息全线下跌，其中，隔夜息连跌四天，报 4.32464%，续创近三周新低，而与楼按相关的一个月拆息亦中止两连升，报 4.97345%。

一个月以下港元拆息全线下跌 隔夜息连跌四天报 4.32%

金十数据 11 月 16 日讯，习近平：我今天同拜登总统达成重要共识，两国将推出更多便利人员往来、促进人文交流的措施，包括增加中美客运直航航班，举办中美旅游高层对话，优化签证申请流程等。我们期待着两国人民多走动、多来往、多交流，共同续写新时代两国人民友好的故事！

中美将优化签证申请流程

当地时间 11 月 15 日晚，习近平主席出席美国友好团体联合举办的欢迎宴会并发表演讲。习近平强调，我一直在思考，如何让中美关系这艘巨轮避开暗礁浅滩、穿越狂风飞浪，不偏航、不失速、不相撞？首先要回答的是，中美到底是对手，还是伙伴。这是根本的、也是管总的问题。习近平指出，道理很简单，如果把对方视为最主要竞争对手、最重大地缘政治挑战和步步紧逼的威胁，必然导致错误的政策、采取错误的行动、产生错误的结果。中国愿意同美国做伙伴、做朋友。我们处理中美关系的根本遵循是相互尊重、和平共处、合作共赢。

习近平：首先要回答的是，中美到底是对手，还是伙伴

王毅就中美元首旧金山会晤向媒体介绍情况并答问：会晤持续 4 个小时，全程使用同传。两国元首面对面深度交流，就树立彼此正确认知、妥善管控分歧、推进对话合作等最突出问题提出指导性意见，就应对巴以冲突、乌克兰危机以及气候变化、人工智能等全球性挑战进行全方位沟通，进一步探讨了中美两个大国的正确相处之道，进一步明确了中美共同肩负的大国责任，形成了面向未来的 “旧金山愿景”，为实现中美关系的健康、稳定、可持续发展指明了方向，规划了蓝图。（央视新闻）

王毅：这次会晤形成了面向未来的 “旧金山愿景”

王毅就中美元首旧金山会晤向媒体介绍情况并答问。

23 年美股 IPO 募资额相比 2021 年下跌 92%。

美国 IPO 市场持续疲软，华尔街 “一切都看 2024 年了”

美国总统拜登与中国国家主席习近平周三进行了一年来的首次面对面会晤，时间约达四小时。他们就台湾问题进行了 “实质” 交流，并一致认为 AI 用于军事或核子行动会产生真正的风险。

习拜会谈了什么？重点总结来了！

摩根士丹利策略师表示:“在能够产生正回报的市场中寻找机会需要技巧。”

大摩展望 2024 年：投资机会遍布全球 投资者仍需精挑细选

杰富瑞发表报告，上调腾讯目标价 1.27%，由 472 港元升至 478 港元，评级买入。杰富瑞认为，腾讯第三季经调整盈利 449 亿元人民币，同比升 39%，好过市场预期的 400 亿元人民币及富瑞的 410 亿元人民币，主要受惠迷你游戏、视频账户广告和电子商务服务费等高利润领域的组合转变，同时管理层并指，高品质收入增长战略成为运营标杆的重点。杰富瑞预计腾讯将有稳固的游戏产品线。基础模式适用于不同情况。杰富瑞对今明两年收入预测维持不变，但上调腾讯 2023 年经调整盈利预测 4% 至约 1532 亿元人民币及 1736 亿元人民币。同时预计腾讯将持续控制成本。

杰富瑞上调腾讯目标价至 478 港元 评级买入

港股半导体股持续下挫，华虹半导体跌近 5%，中芯国际、上海复旦、中电华大科技均跌超 3%，晶门半导体跌 2.8%。

特斯拉 CEO 马斯克：CyberTruck 的交付将于 11 月 30 日在得州超级工厂进行。

新加坡金管局局长：新加坡金管局将与地区银行合作，试点推出批发型央行数字货币。

恒指跌超 1%。李宁、石药集团、小米集团跌超 3%。

中国华融盘初涨幅一度扩大至 30%，目前涨幅收窄至 16%。

小米汽车真容曝光

深蹲两季度的小鹏，终迎起跳时刻 | 见智研究

* 花旗：腾讯追求可持续高质素成长 目标价轻微上调

* 花旗：腾讯追求可持续高质素成长  目标价轻微上调

* 美银证券上调腾讯目标价至 472 元 上季业绩胜预期

* 美银证券上调腾讯目标价至 472 元  上季业绩胜预期

其中很多仓位已经在巴菲特的投资组合中存在了近二十年，包括通用汽车、宝洁和强生公司。

清仓通用汽车、宝洁、强生，股神大幅减持美国蓝筹股，还做了一个 “神秘投资”

元大京华证券：将腾讯评级上调至买进，目标价 430 港元。

美股科技七巨头今年迄今累计回报率高达 71%！高盛指出，英伟达们明年将继续跑赢标普 500 指数的其他成分股，但 “鉴于预期上调，这种交易的风险/回报状况并不是特别有吸引力”。

英伟达、特斯拉们明年为何仍有望跑赢大市？

In October, the US PPI cooled more than expected, with the MoM decline reaching its deepest level in three and a half years. Retail sales also fell less than expected. Traders increased their bearish bets after a rebound in global bond markets, causing US bond yields to rise sharply during the session, leading to a temporary decline in the NASDAQ Composite Index and the S&P 500. However, with expectations of a soft landing, US stocks rose across the board, with the Dow Jones Industrial Average rising for four consecutive days and both the Dow and the NASDAQ Composite Index hitting a three-month high. Microsoft, which released its AI chip, hovered near its historical high, while Nvidia continued its ten-day rally. After market close, Cisco fell by 14%. The China concept stock index reached a five-week high, with JD-SWR rising by 7%, Tencent ADR up more than 5%, and XPENG-W up more than 2%. The US dollar strengthened and stabilized at 104, the pound fell nearly 100 points, the yen fell below 151, offshore RMB hovered around 7.26 yuan, and Bitcoin rose by 5%, reaching its highest level since April last year. Oil prices fell 2% during the session, erasing the gains for the week, while spot gold fell below $1960. However, London metals rose for three consecutive days, with copper reaching a six-week high and zinc rising for two consecutive days by 2%.

PPI cooling boosts US stocks, Chinese concept index rises strongly by about 3%, US bond yields rise more than 10 basis points intraday.

Cisco's performance guidance has intensified concerns in the market about weak corporate technology spending. Updated.

Cisco's guidance for this quarter is far below expectations, and it has lowered its full-year guidance. After the market closed, its stock fell more than 10%. | Earnings Report