标普 500 再创新高，有望创出 1964 年以来最佳单周表现，芯片股、AI 概念股、减肥概念股延续涨势。特斯拉德国工厂停产时间长于预期。苹果开发 iPhone 到安卓换机方案。美国 SEC 推迟决定是否批准现货比特币 ETF 期权交易。机构预测，到 2027 年电动汽车生产成本将低于燃油车。Rivian 宣布暂停规模为 50 亿美元乔治亚州建厂计划，并扩大伊利诺伊州工厂产能。Reddit 本月为 IPO 定价。

早餐 | 英伟达六连涨苹果七连跌 ，瑞穗称 AI 芯片股疯涨彷佛互联网泡沫

Lanvin(LANV) rose 20.69%, with a trading turnover 1.2 Million USD, and a year-to-date fell 16.9%. Opera(OPRA) rose 12.35%, with a trading turnover 32.1 Million USD, and a year-to-date rose 12.7%. BeyondSpring(BYSI) fell 13.16%, with a trading turnover 2.2 Million USD, and a year-to-date rose 230%. Quantasing(QSG) fell 7.89%, with a trading turnover 4.2 Million USD, and a year-to-date rose 79.5%.

Top 5 CDRs Gainers/Losers (>100M) (3.7)

Victorias Secret(VSCO) fell 29.7%, with a trading turnover 467.8 Million USD, and a year-to-date fell 32.1%. Viking Therap(VKTX) fell 18.84%, with a trading turnover 1.3 Billion USD, and a year-to-date rose 297.6%. Ciena(CIEN) fell 14.72%, with a trading turnover 726.1 Million USD, and a year-to-date rose 17.4%.

Top 10 US Stock Losers (3.7)

Novo Nordisk AS(NVO) rose 8.95%, with a trading turnover 2.6 Billion USD, and a year-to-date rose 31.4%. Taiwan Semiconductor(TSM) rose 5.39%, with a trading turnover 5.1 Billion USD, and a year-to-date rose 43.5%. T-Mobile US(TMUS) fell 1.81%, with a trading turnover 982.2 Million USD, and a year-to-date rose 2.9%. Toyota Motor(TM) fell 1.77%, with a trading turnover 88.3 Million USD, and a year-to-date rose 35.2%.

Top 5 US Stock Gainers/Losers (>100B) (3.7)

MoneyLion(ML) rose 28.18%, with a trading turnover 50.8 Million USD, and a year-to-date rose 7.4%. Rentokil Initial(RTO) rose 18.05%, with a trading turnover 65.2 Million USD, and a year-to-date rose 14.1%. Chemours(CC) rose 15.12%, with a trading turnover 157.9 Million USD, and a year-to-date fell 19%.

Top 10 US Stock Gainers (3.7)

关于是否批准直接投资于比特币的交易所交易基金期权交易，美国证券交易委员会推迟了做出最终决定的时间。根据 SEC 官网周三发布的文件，该证券监管机构推迟了就芝加哥期权交易所提交的一份文件做出决定。该文件提出交易与持有比特币的 ETF 挂钩的期权。SEC 还推迟就纳斯达克的一份文件做出决定。该提案关乎上市并交易贝莱德。

美国证券交易委员会推迟决定是否批准现货比特币 ETF 期权交易

比特币向上触及 68000 美元/枚，日内涨 2.16%。

With the EU regulatory authorities focusing on Apple's commission fees, Apple may face more fines.

More fines on the way? The EU is investigating Apple's decision to close Epic developer accounts.

2024 年摩根士丹利 TMT 大会合集来了！AWS 认为，AI 带来的需求足够大，所有加速芯片都会增长，无论是 Inferentia，还是 Trainium，无论是英特尔的 Hababa，还是英伟达，所有这些芯片都会有用武之地。Meta: GenAI 如何提升推荐系统，微软：copilot 渗透低估，Google：GenAI 不会影响搜索广告，Databricks：超越 Snowflake，ARM：推理会提升 ARM 价值量占比，JPM：Intel 成为台积电 N3 第二大客户，Intel：UBS 提升目标价和 EPS 预测，Meta 推出新的 AI 系统提供 Reels 推荐服务，正在开发 AI 助手。GenAI 可以帮助人们更容易地创建内容和广告，Meta 将从用户 time spent、货币化率两方面获益。微软 Office36...

2024 年摩根士丹利 TMT 大会合集来了！

英伟达将于 3 月 18-21 日举行 GTC 大会，有望推出新一代旗舰级 AI 处理器 B100、全新推理平台和与联发科合作的汽车芯片。此外，英伟达还将加强在汽车和边缘 AI 等新兴领域的发展。目前，英伟达股价已经涨到了快 900 美元，市值超过 2.2 万亿，取代苹果成为全球市值第二大企业。

英伟达 GTC 大会：AI 巅峰时刻

已有银行正式发通知，购房者自有住房用于长租或挂牌出售，可核减 “限贷” 套数。在广州，如果已有两套房，两套全部放盘租或者放售备案，可首付三成，按首套利率贷款。如果把广州有贷款的房子放租或者放售备案，也可首付三成，按首套利率贷款。

银行发文明确：在广州放售/放租两套买第三套房可按首套房执行

宏观经济层面有四大新增亮点，包括生产和出口增长偏强，货币政策仍有降准空间，设备升级涵盖面广且力度值得关注，以及家电和汽车换新政策空间较大。金价上涨与宏观基本面变化方向一致，但幅度超出宏观变量解释范围。另外，外部因素如美国大选和资金流入另类资产也推动了金价上涨，维持中长期对金价乐观预期。日本宏微观基本面强劲，改革提振风险偏好，叠加外资加仓，推动日股上涨。印度股市繁荣，但面临投资不足、政治大选和外资流入减少的风险。

宏观经济层面亮点多多，维持中长期对金价乐观预期，日股印股表现靓丽---0307 宏观脱水

The preliminary trial results of the new GLP-1 oral drug are optimistic, leading to a 6% surge in the stock price of Novo Nordisk AS, reaching a historic high.

Novo Nordisk AS's stock price hits a new high as the company releases the latest data on the next-generation weight-loss drug.

JPMorgan Chase pointed out that thanks to tightly integrated packaging technology, leading process technology, and the most extensive customer ecosystem, Taiwan Semiconductor's moat in the field of Al semiconductors seems wider than in previous product cycles.

Taiwan Semiconductor's market share exceeds 90%! Its dominance in the AI era has become even stronger.

大通胀导致黄金进入 20 年的熊市，金价下滑 70%。上世纪 70 年代，美国财政赤字增加，黄金储备减少，导致美元信誉受损，黄金价格上涨。同时，中东战争、石油禁运等事件加剧了通胀和避险情绪，使黄金价格再次上涨。然而，80 年代初期黄金牛市转为熊市，具体原因不明。当前金价破新高，可参考历史教训。黄金市场受多种因素影响，需密切关注宏观经济形势。

大通胀，把黄金拖入逝去二十年！

BYD introduces a luxury car priced at 1.68 million.

贝莱德 IBIT 比特币持仓市值突破 120 亿美元，达到 12,591,273,312.25 美元，续创持仓市值新高。

贝莱德 IBIT 比特币持仓市值突破 120 亿美元

AMD believes that the market size of AI chips will reach $400 billion in 2027, calculated based on customers' long-term demand. More and more users are writing models on open-source ecosystems, narrowing the gap with Nvidia.

AMD: The future lies in AI moving towards the edge, with MI300 expected to generate revenue of $3.5 billion by 2024.

As various new tea beverage companies are approaching IPO, how should we tell the growth story of lower-tier cities?

Auntie in Shanghai is using "Mister Price" to impact the sinking market | Insights from JIANZHI Research

Morgan Stanley stated in a report on Tuesday that Marvell Technology (MRVL) may make "sufficient progress" in custom AI chips to address cyclical issues. The company is set to announce its fourth-quarter financial results after the U.S. stock market today (March 7). Morgan Stanley expects earnings per share to be $0.45, with revenue down 0.1% YoY to $1.42 billion. The market consensus is for earnings per share of $0.46 and revenue of $1.42 billion. Morgan Stanley noted, "As expected, strong demand for AI in its optical business supported most of Marvell's growth last quarter." However, they anticipate continued weakness in other markets, largely offsetting this strength. Morgan Stanley raised the target price for Marvell stock from $63 to $84 and maintained an equal-weight rating. They added, "We expect slight consecutive declines in April, but believe custom silicon will have enough positive news to sustain the stock's performance."

Earnings Report Preview | MRVL shows "significant progress" in custom AI chip development.

比特币价格的剧烈波动引发了现货 ETF 投资者的关注。自 1 月 11 日上线以来，美国现货比特币 ETF 已吸引了 89 亿美元的资金净流入，并催化了比特币价格飙升至历史高点。然而，比特币价格的大幅波动让部分 ETF 投资者感到焦虑不安。尽管出现了波动，九种现货比特币 ETF 仍在周二吸引了近 10 亿美元的创纪录净流入量，显示比特币 ETF 投资者对这种资产的坚定支持。比特币的波动性可能会对加密货币市场产生更加猛烈的影响。

比特币坐上 “过山车” 现货 ETF 需求面临严峻考验

After the recent release of the earnings report, Bilibili surged nearly 8% pre-earnings, but then dropped by almost 6% post-earnings; XPENG-W fell over 4%, Li Auto dropped over 3%, JD.com dropped over 2%, Alibaba, BIDU-SW, NIO-SW fell over 1%, Pinduoduo dropped by nearly 1%, with only NetEase rising by 1%. OneSpan soared by 64% at one point, with Q4 performance exceeding expectations across the board.

Pre-market trading in the US: Bilibili's stock fell more than 5% after its earnings report! Chinese concept stocks are almost all down.

蔚来董事长李斌公布了公司 2023 年财报，全年营收为 556.2 亿元，创下新高，但亏损也扩大至 207.2 亿元。蔚来计划推出面向家庭市场的新品牌 “阿尔卑斯”，首款车型将挑战特斯拉的 Model Y。投资者对蔚来发力的方向持乐观态度，但蔚来仍面临困难。

李斌的关键一跃

哔哩哔哩第四季度净收入 63 亿元人民币，同比增长 3.4%，预估 63.2 亿元。2023 全年度净收 225 亿元。2023 年第四季度及 2023 年的净亏损分别为 13 亿元及 48 亿元，分别同比收窄 13% 及 36%。

哔哩哔哩第四季度净收入 63 亿元，预估 63.2 亿元

人一到群体中，智商就严重降低，为了获得认同，个体愿意抛弃是非，用智商去换取那份让人倍感安全的归属感……

百年神作！《乌合之众：大众心理学研究》

Hedge funds have increased their purchases of global equities at the fastest pace in 11 months, according to Goldman Sachs. This surge in net inflow into global stocks is driven by a bullish outlook on markets, particularly in the US and Japan. Hedge funds are also showing a growing risk appetite, with record-high leverage levels. Interest in smaller tech companies and Japanese stocks is particularly strong. Meanwhile, Chinese equities have attracted net buying for three consecutive months, and net allocation to Europe and emerging markets ex-China is at five-year highs.

HEDGE FLOW -Hedge funds snap up stocks at fastest pace in 11 months, Goldman says

Two highly watched semiconductor companies, Broadcom and Marvell Tech, released their earnings reports after the market closed on March 7th; PLTR surged nearly 10% overnight due to securing an official AI order.

Hot discussion on WSB | Can't stop at all, Taiwan Semiconductor breaks through the top again.

Morgan Stanley has raised JD's target price from HKD 92 to HKD 105, believing that JD's increase in shareholder returns through dividends and buybacks has surprised the market. It is expected that JD's retail revenue will increase by 7% this year, reflecting a roughly corresponding growth in GMV, with stable core business. The adjusted operating profit margin is estimated to be maintained at 3.8%.

Rating Quick Look: JD's target price significantly raised after earnings report! AMD's rating downgraded, NIO-SW facing price cuts.

UBS pointed out that the market sentiment towards gold is bullish, with net long positions in gold only about half of the 12-month high, indicating an overall upward trend in gold prices.

UBS: Gold has risen too quickly, a healthy correction is needed, and silver is catching up.

Taiwan Semiconductor's stock price has surged, reaching the most severe overbought level in three years. Analysts point out that Taiwan Semiconductor's crucial role in the field of artificial intelligence indicates that it may be too early to give up on the upward trend. With a 14-day relative strength index exceeding 82, Taiwan Semiconductor has become one of the most severely overbought stocks in Asia. JPMorgan Chase has raised Taiwan Semiconductor's target price to NT$850, citing its role as a driver in data centers and artificial intelligence processing. Taiwan Semiconductor has risen by nearly 30% this year.

Taiwan Semiconductor is significantly overbought, but analysts are still shouting: it can still rise.

IMMUNEONCO-B(01541) rose 48.96%, with a trading turnover 31.3 Million HKD, and a year-to-date fell 28.3%. FOURTH PARADIGM(06682) rose 27.97%, with a trading turnover 363.8 Million HKD, and a year-to-date rose 50.4%. MMG(01208) rose 14.67%, with a trading turnover 233.2 Million HKD, and a year-to-date rose 11.7%.

Top 10 HK Stock Gainers (3.7)

WUXI BIO(02269) fell 21.47%, with a trading turnover 3.0 Billion HKD, and a year-to-date fell 42.3%. WUXI APPTEC(02359) fell 20.56%, with a trading turnover 1.1 Billion HKD, and a year-to-date fell 43.4%. PHARMARON(03759) fell 15.95%, with a trading turnover 176.6 Million HKD, and a year-to-date fell 40.7%.

Top 10 HK Stock Losers (3.7)

JD(09618) rose 6%, with a trading turnover 2.8 Billion HKD, and a year-to-date fell 16%. CMOC(03993) rose 4.09%, with a trading turnover 166.0 Million HKD, and a year-to-date rose 25.3%. WUXI APPTEC(02359) fell 20.56%, with a trading turnover 1.1 Billion HKD, and a year-to-date fell 43.4%. LI AUTO(02015) fell 5.75%, with a trading turnover 1.8 Billion HKD, and a year-to-date fell 2%.

Top 5 HK Stock Gainers/Losers (>100B) (3.7)

The hottest contracts overnight: Tesla with a March 8 expiration date and a strike price of $175, with a trading volume of 145,000 contracts! Palantir options surged to 1.52 million contracts, with 82.5% being call options; JD options surged to 310,000 contracts, with 76% being call options.

US Stock Options | JD, CRWD, Palantir Tech trading volume surges! Tesla, Apple put options are hot.

三星计划参加 MemCon 2024 全球半导体会议，将在会议上分享 CXL 技术和愿景。CXL 是一种高速、大容量的开放标准，专为高性能数据中心计算机而设计。三星于 2021 年推出了支持 CXL 互连标准的内存模块，并在 CXL 上持续投入。CXL 技术有望解锁内存性能潜力，满足日益增长的人工智能和机器学习应用对快速接口和易扩展性的需求。

继 HBM 之后，这一技术或成 AI 存储 “新宠”，三星重磅新品也将来袭

Tech stocks are seeing a surge in bullish bets, reaching the highest levels in three years, according to Citigroup analysts. This trend is more pronounced in the US but is also evident in the global market, particularly in European equities. However, there is a risk of a sudden market pullback if investors decide to cash in their profits. The bullishness in the tech sector comes amid a cautious shift in sentiment on Wall Street, despite record highs in the Nasdaq and S&P 500.

Tech Stocks See Highest Bullish Bets In 3 Years, Citi Analysts Highlight 'Increasingly One-Sided' Market

The market is expecting Broadcom's earnings report to once again stimulate AI concept stocks.

Looking ahead | Will Broadcom ignite the AI frenzy? The AI market is about to boom!

德国中央合作银行将 AMD 公司评级下调至持有，目标价 200 美元。

京东在过去一年坚持低价策略，尽管股价下跌 50%，但财报数据显示，京东实现了 3.6% 的收入增长和优于预期的经营利润。CEO 许冉表示，京东将继续坚持低价策略。此外，京东还宣布了 30 亿美元的股票回购和 12 亿美元的股息分红，市场对此表现出极大热情，京东美股股价大涨超 16%。不过，京东的平台及广告服务收入出现了下滑。

焦点分析｜京东做 “低价” 这一年：增长不够，利润来凑

When compared with domestic counterparts, Apple still seems a bit inadequate.

Track Hyper | 2025: Apple's Rare "Major" Upgrade

高盛预计中国电信、中国联通和中国移动在 2024-2025 年有望进一步提高派息比率，并将派息政策成为市场焦点。高盛还预测三大电信公司 2024 年的云收入增长率为 20% 至 25%。此外，这些公司的 AI 业务增长潜力可能对其云业务产生重大影响。高盛将中国移动的目标价上调至 82.4 港元，中国电信的目标价上调至 5 美元，中国联通的目标价上调至 6.5 港元，并给予它们 “买入” 评级。

高盛：上调三大中资电信股目标价 聚焦派息政策、云增长及 AI 机遇

BOCOM INTL expects Bilibili's fourth-quarter traffic to increase by 10%, with revenue increasing by 3% year-on-year, in line with market expectations. The gross profit margin is expected to expand by 6 percentage points to 26% year-on-year, with adjusted net loss attributable to the parent company at 580 million yuan, continuing the trend of narrowing on a year-on-year and quarter-on-quarter basis.

Preview | What to look for in Bilibili's quarterly report: Will the net loss continue to narrow?

港股 “人形机器人” 第一股优必选是这两日最火的股票！分析认为，此次异常波动是由于短期情绪叠加的释放，并非公司真实可产的生利润和现金流得到了验证——公司实际市场份额仅为 2.8%，并无优势。

理解市场 | 优必选为何两天暴涨 200%？

抖音生活服务部门与字节商业化销售部门的组织架构将发生大调整，两块业务的部分中层也将双向流动轮岗。其中，抖音生活服务原先按照行业划分的到店餐饮、到店综合、酒旅三个平行部门，将按地域被重组为北、中、南三个大区，以及服务全国连锁大商户的 NKA 部门。字节商业化销售部门的核心骨干会被调至生活服务业务，接管上述新成立的部门；剩余未外调的管理者也将内部轮岗。

抖音生活服务大变阵：成立三个大区、多位广告销售团队管理者加入

公司公告再次重申，药明康德既没有人类基因组学业务，本公司现有各类业务也不会收集人类基因组数据。

药明康德午后跌幅扩大至 20%

港股汽车股持续走低，理想汽车、小鹏汽车均跌超 5%，零跑汽车跌近 2%，比亚迪股份跌 1.8%

Guo Mingchi stated that his latest research shows that Apple's only foldable product with a clear development schedule is the one with a approximately 20.3" display, expected to be mass-produced by Apple in 2027. At the same time, Apple's shipment expectations have been lowered due to intense market competition, especially from Huawei, leading to a decline in iPhone sales. Additionally, Apple's progress in AI is slow, which may further drive down its stock price. Goldman Sachs has removed Apple from its "best buy list," with concerns about Apple's long-term sales slump being the main reason for the adjustment. In summary, Apple is facing challenges in the development of foldable products, market competition, and progress in AI.

Ming-Chi Kuo: Apple's only foldable product in development is expected to be mass-produced by Apple in 2027.

印度经济增势强劲，海外投资者瞄准中小盘股，寻求超额收益。小票通常盈利增长高，成交活跃，不过印度证监会已敦促机构防范小盘股过度泡沫化风险。

外资猛冲印度小盘股

人工智能概念港股延续强势，第四范式午后一度大涨近 90%。截止发稿，第四范式涨 81%，优必选涨 40%。

人工智能概念港股延续强势 第四范式一度涨近 90%

小米汽车即将推出首款车型 SU7，在发布前就受到了市场的关注和竞争。比亚迪等多个品牌纷纷推出优惠活动，展开价格战。尽管小米汽车仅发布了技术发布会，但其在市场上仍具有巨大的吸引力和潜力。小米的精髓是性价比，在手机领域取得了成功。公众期待小米能在汽车领域延续这一策略，成为年轻人的首选。