Apple CEO Tim Cook confirmed that due to the surge in AI demand leading to a shortage of storage chips and rising costs, Apple plans to increase product prices. Although the company is trying to use its cash reserves to alleviate supply pressures, price increases are inevitable. Cook will hand over the CEO position in September and hinted that the industry needs to expand capacity to restore reasonable price levels

Apple CEO confirms price increase due to storage chip shortage

沃什首秀，多个强烈的信号预示着变革即将到来，包括声明篇幅大幅缩减以及新闻发布会时间缩短。沃什表示，委员会明确且一致地致力于实现物价稳定，实现 2% 的通胀目标。宣布成立特别工作组，其中包括审查美联储 6.7 万亿美元的资产负债表，研究货币政策是来自利率工具还是资产负债表工具。沃什未提交 “点阵图” 利率预测，其他官员均提交，其中一半预计今年至少会加息一次，一半则认为利率将维持不变或下降。在美联储发表声明及新闻发布会后，美股大跌，美国国债收益率飙升。

首秀！美联储主席沃什：坚守 2% 通胀目标，成立五个特别工作组，个人未提交点阵图

Elon Musk converted approximately 300 million Tesla options into restricted stock with voting rights, with an exercise cost of about $7.1 billion. This move increases his voting power in Tesla to around 20%, but the new shares cannot be sold until 2028

Elon Musk converts 300 million Tesla options into voting shares

美股三大指数均收跌逾 1%，VIX 恐慌指数重新升破 18。Meta 跌幅超 5%，领跌科技七巨头。SpaceX 收跌近 5%。对利率敏感的 2 年期美债收益率上涨 16 个基点。10 年期上行逾 8 基点。美元指数大涨 0.86%，触及两个月来高点。现货金价跌一度跌超 2.5%、抹去本周因和谈预期积累的全部涨幅。WTI 原油价格维持在每桶 76 美元附近。

美联储鹰派转向，美股债遭 “双杀”，SpaceX 首度收跌，芯片指数逆市收涨，黄金下挫

SpaceX's stock price has fallen about 5% for the first time since its IPO, ending a nearly 50% rally, and its market value has once again fallen behind Amazon. Market participants believe this is noise, and if there is a significant drop, it may present a buying opportunity. Due to the limited float and the overall weakness of U.S. stocks, the stock price has been highly volatile. In the coming weeks, SpaceX is expected to be included in the Nasdaq 100 Index, which may create buying pressure

SpaceX's stock price has fallen for the first time since its listing, trailing behind Amazon again. Market participants suggest it may be a good opportunity to buy on the dip

Latin American assets declined broadly on Wednesday, driven by the Federal Reserve's hint at a possible interest rate hike and a strengthening U.S. dollar index. Both Latin American currencies and stock markets fell, with the Mexican peso suffering the largest drop of 1.2%. Investors are assessing Fed policy signals and details of the U.S.-Iran ceasefire agreement

Fed Hints at Possible Rate Hike, Latin American Assets Decline Broadly

库克称，由于内存和闪存价格持续上涨，苹果已难以继续完全吸收成本，未来提高产品售价 “不可避免”。据报道，今秋苹果将仅发布 iPhone 18 Pro 和 Pro Max、首款折叠屏 iPhone，明年春季发布标准版 iPhone 18 及第二代 iPhone Air。

库克终于放风：苹果也要涨价了

The fifth listing standard of the STAR Market has been expanded to include artificial intelligence large model companies, providing institutional certainty for KNOWLEDGE ATLAS and MINIMAX-W as they prepare to 'return to A-shares.' Industry experts believe that if these two companies list on the STAR Market, it will enable domestic investors to directly price core assets of large models, accelerate the concentration of industrial resources among leading players, and foster resonance between the local capital chain and supply chain of domestic large models

Scope of STAR Market's Fifth Listing Standard Expanded to Include Large Model Companies, Accelerating Potential 'Return to A-Shares' for KNOWLEDGE ATLAS and MINIMAX-W

特朗普称，加息太不寻常，它会拖累经济增长，让国家停滞不前；联储维持利率不变也是可以的，无所谓；沃什非常优秀，所以听取他的意愿。

特朗普：美联储按兵不动也还行，加息难以置信但可能发生，相信沃什

Apple's stock price rose 0.5% after hours, after the iPhone manufacturer announced in an interview plans to raise product prices to offset the costs of memory and storage chips. Apple CEO Tim Cook stated in the interview that Apple is ready to tap into its cash reserves to increase memory supply

Apple's stock price rose slightly after hours as Cook announced plans to increase product prices

At the New York close on June 17, U.S. Treasury yields fluctuated significantly amid the Federal Reserve's decision to hold rates steady and Chair Walsh's press conference. The 10-Year Treasury Yield rose 4.74 basis points to 4.4869%, dipping first before rallying during the session. The two-year U.S. Treasury yield climbed 13.28 basis points to 4.1843%, hitting a new high since February 2025. Traders are continuing to digest the outlook for Fed rate hikes

Based on the latest Federal Reserve projections, Citibank has pushed back its expectation for an interest rate cut from September to October. Chief Economist Andrew Hollenhorst noted that while weak employment data and cooling inflation still support a rate cut within the year, divergences within the Federal Reserve Board require more time to reach consensus, leading to an adjustment in policy expectations

Citi: Pushes Back Expected Timing of Fed Rate Hike by One Month to October

6 月声明全文仅剩 132 字，彻底删除了所有降息暗示和政策前瞻指引，就业表述更加强劲，使美联储立场从 4 月的 “偏鸽式观望” 转向 “偏鹰派”。“新美联储通讯社” 指出，政策声明进行了全面修订，文本长度明显缩短。沟通框架发生显著变化，市场对利率路径的预期或将重新调整。

仅 132 字！沃什大幅调整美联储利率声明，全文对比美联储 6 月会议声明有何变化

利率决议九个月来首次获 FOMC 票委全票支持。点阵图中九人预计今年加息、其中六人预计至少加两次，19 人中一人未提供利率预测、可能是沃什，引发点阵图将被废除猜测。决议声明删除利率指引，称致力于实现价格稳定。联储下调今年 GDP 增长和失业率预期，今年 PCE 与核心 PCE 通胀预期分别上调至 3.6% 和 3.3%。购债实施声明中，新增 “适当时” 增购短债。“新美联储通讯社”：点阵图 “非常鹰派”，联储暗示今年加息可能性已超降息，更多官员预计下一步是加息。

美联储继续按兵不动但暗示鹰派倾向，强调通胀承诺，半数决策者料年内加息

On June 18th, among the top trading volumes in the US stock market, Micron Technology rose against the trend by 2.2%, with Deutsche Bank significantly raising its target price to $1500 and maintaining a buy rating. SpaceX experienced its first decline since going public, dropping 4.95%. Stocks of major companies such as NVIDIA, Sandisk, Tesla, Microsoft, Apple, and Alphabet all saw varying degrees of decline

On June 18th, the top 20 trading volumes in the US stock market: Micron Technology rose against the trend by 2.2%, and Deutsche Bank significantly raised its target price

美联储维持利率不变，但季度点阵图显示半数官员倾向年内加息。市场迅速反应，交易员将 10 月前加息预期完全计入定价，美元大涨，两年期美债收益率上行。摩根大通高管视此为警示信号，认为美联储正为加息做准备。

美联储半数官员想加息！交易员全面定价 10 月前将加息，预计明年一季度前加息两次

On June 17, the Magnificent 7 Index fell 2.38% to 210.21 points, while the Mega-Cap Tech Index dropped 1.56% to 432.59 points. Both indices experienced significant declines or failed rallies amid the Federal Reserve's decision to hold rates steady and Chair Kevin Warsh's press conference

The NASDAQ Golden Dragon China Index initially closed down 1.1%. Among popular Chinese stocks, Li Auto fell 3.4%, Alibaba dropped 3.1%, NIO Inc rose 0.2%, and Advanced Semiconductor Engineering gained 2%

Federal Reserve Chair Warsh: Has had breakfast with U.S. Treasury Secretary Bessent three times so far

摩根大通 2026 年中期展望认为，受 AI 投资浪潮、高收入消费支撑及企业利润改善推动，美股牛市下半年有望再创新高。尽管通胀和地缘政治存在不确定性，但 AI 驱动的资本开支周期成为经济重要引擎。同时警告，若市场逆转，估值最高的 AI 板块可能率先遭遇抛售。

摩根大通：AI 牛市远未结束，美股下半年或再创新高

Wall Street analyst Trip Chowdhry predicts Intel could reach a $5 trillion market cap, driven by AI inference and application growth. While Intel's stock has surged 483% in 2026 due to strategic turnaround efforts under CEO Lip-Bu Tan, including new foundry deals with Apple and Alphabet, the prediction remains highly speculative. Current consensus estimates suggest much lower EPS figures for 2026-2027, making the $1,100 share price target ambitious given the current valuation.

1 Unstoppable Stock to Buy Before it Soars 848% to Join Nvidia in the $5 Trillion Club, According to 1 Wall Street Analyst

After the Federal Reserve released its policy statement, US stocks edged lower, with the S&P 500 falling over 0.3% and the Nasdaq Composite Index dropping more than 0.2%. The US Dollar Index quickly climbed to 99.9866, while spot gold prices tumbled $28.59 per ounce to $4,352.16 per ounce

Following the release of the Fed's decision statement, the S&P fell over 0.3% and the Nasdaq dropped more than 0.2%. The US Dollar Index rose 0.3327 within five minutes to 99.9866. Spot gold declined $28.59 per ounce in five minutes to $4,352.16 per ounce

决议声明公布后，美债收益率跃升，美元指数重上 100，黄金转跌。沃什发布会期间，美债收益率和美元进一步上行，美股和黄金跌幅扩大。发布会后，两年期美债收益率升超 10 个基点，美股指跌逾 1%、黄金跌超 2%。

沃什 “首秀” 美联储放鹰，三大美股指转跌，美元拉升，美债黄金跳水

Federal Reserve Summary of Economic Projections (SEP): U.S. Real GDP is projected to grow by 2.2% in 2026, down from the 2.4% forecast in March

Federal Reserve Summary of Economic Projections (SEP): The U.S. Unemployment Rate is projected to be 4.3% in 2026, compared to the 4.4% projected in March

Federal Reserve Summary of Economic Projections (SEP): US core PCE inflation is projected at 3.3% for 2026, compared to the March projection of 2.7%. US PCE inflation is projected at 3.6% for 2026, compared to the March projection of 2.7%

Ahead of the Federal Reserve's rate decision statement, major U.S. stock indices edged higher, with the semiconductor and banking sectors outperforming. In the foreign exchange market, the U.S. Dollar Index inched up while non-U.S. currencies generally declined. Precious metals prices rose, with gold and silver gaining 1.1% and 1.8%, respectively. U.S. Treasury yields mostly fell, with the 10-Year Yield dropping 1.38 basis points to 4.4256%, and the gain in the two-year yield narrowing

At the VivaTech conference, ASML CEO Christophe Fouquet stated that the company is participating in Musk's Terafab project but must ensure there are no supply chain bottlenecks to support the construction of this large-scale wafer fab. He emphasized the massive demand for AI infrastructure and mentioned the possibility of space-based data centers. Influenced by this, ASML's stock price rose 6% on Wednesday, bringing its monthly gain to 30%

ASML CEO: Musk's Terafab Project May Face Supply Chain Bottlenecks

The Italian antitrust regulator has launched an investigation into Apple for potentially violating the interoperability obligations of the European Digital Markets Act. The regulator believes that third-party cloud services do not have equal access to iCloud, while Apple claims it has fulfilled its obligations and is prepared to address the concerns. This is the first investigation initiated by Italy under this act, and the results will be submitted to the European Commission

Italy's antitrust regulator launches investigation into Apple's cloud services

Amazon's Chief AI Executive Peter DeSantis predicts that the first small-scale quantum computers with commercial practical value will emerge in the next 5 to 7 years. He noted that thereafter, quantum computing will follow a development trajectory similar to Moore's Law, with scale expanding year by year. This statement provides Amazon's first timeline regarding the technology, positioned in the middle of industry predictions

Amazon AI executives predict that the first "commercially valuable" quantum computers will emerge within 5 to 7 years

J.P. Morgan Asset Management urges investors to continue holding high-risk assets such as equities in the second half of 2026. Despite inflationary pressures and the Federal Reserve keeping interest rates unchanged, the firm believes that the AI investment boom and consumer resilience will support continued expansion of the US economy, driving further gains in US stocks

J.P. Morgan Asset Management: AI Boom Expected to Drive Further Gains in US Stocks; Hold High-Risk Assets in Second Half of Year

美国股票 ETF 单月资金净流入突破 1500 亿美元，创历史次高纪录，散户全面入场引发市场警惕。历史经验表明，散户大举介入往往是牛市见顶的前兆，聪明钱可能已离场。尽管 AAII 情绪比值低位显示口头谨慎，但实际持仓上升。宏观层面，股票供给过剩、流动性收紧及美联储政策预期变化等结构性风险正在积聚，市场或正从认知阶段向狂热阶段过渡。

牛市终章序幕已启？美股散户重返股市，ETF 资金流入逼近历史峰值

Google announced that the first Google Home speaker equipped with the Gemini AI model will be launched next week, priced at $99.99. The device features a voice assistant with advanced natural language understanding and reasoning capabilities, supporting multi-command reception, complex question handling, and multi-turn conversation memory. In addition, the new speaker has a completely new design and supports a microphone mute function

Google starts selling Google Home speakers equipped with Gemini

This article focuses on four key aspects of the Federal Reserve's June decision statement and press conference: first, whether the target range for the federal funds rate will remain unchanged; second, whether there will be any changes to the officials' interest rate projections in the Dot Plot; third, the Fed's view on the U.S. economic situation, including inflation and employment; and fourth, the signals conveyed by Chair Kevin Warsh during the press conference

Key Focus Areas of the Fed's June Decision Statement and Press Conference

According to data from the Federal Reserve Bank of New York, the Secured Overnight Financing Rate (SOFR) was reported at 3.63% on the previous trading day (June 16, the opening day of the Federal Reserve's policy meeting), compared to 3.69% the day before. The effective federal funds rate on the previous trading day was reported at 3.63%, unchanged from 3.63% the day before

The U.S. Pending Home Sales Index rose 2.1% year-on-year in May, compared to the previous value of 3.3%

The U.S. Pending Home Sales Index rose by 3.8% month-on-month in May, exceeding the expected 1% and the previous value of 1.4%

Oracle's fiscal 2026 results highlight robust GPU demand, with data center utilization at 97.5%, benefiting Nvidia, which holds 80-90% of the AI accelerator market. Oracle plans to increase capital expenditure to $90-$95 billion in fiscal 2027, signaling sustained investment in AI infrastructure. This growth supports Nvidia's projected earnings surge and potential stock appreciation, as global AI spending rises significantly.

Oracle Has Fantastic News for Nvidia Stock Investors

Enron redux! Muddy Waters for clicks, or is SOFI just bad?

FSMOne's General Manager in Hong Kong, Chen Jialang, pointed out that the current cycle of interest rate cuts by the Federal Reserve has ended. Based on a target price-to-earnings ratio of 11 times, the target prices for the Hang Seng Index at the end of the year, 2027, and 2028 are approximately 25,000, 27,000, and 29,000 points, respectively. Analyst Li Xu is optimistic about Hong Kong stocks being supported by the inclusion of AI models in the index, the IPO market conditions, and the inflow of northbound capital. Chen Jialang believes that inflationary pressures will keep long-term bond yields high and recommends that investors prioritize short-term bonds and 5 to 10-year U.S. Treasury bonds, while being optimistic about investment-grade corporate bonds

FSMOne: The Federal Reserve's current interest rate cut cycle has ended, with a target price of approximately 27,000 points for the Hang Seng Index next year

美国 5 月零售销售环比增长 0.9%，远超预期，同比增速升至 6.9%，创近三年半新高。油价飙升带动加油站收入大涨，但剔除能源因素后消费仍保持韧性，控制组数据亦明显超预期，为 GDP 增长提供支撑。不过，实际工资下滑、储蓄率走低以及低收入群体承压，显示美国消费正呈现愈发明显的 “K 型分化”。

美国 5 月零售销售环比 0.9%，创逾三年新高，加油站消费大幅增加

宝马发布盈利预警，将 2026 年汽车业务 EBIT 利润率目标大幅下调至 1%-3%，预计全年税前利润下降超 15%。主因为中国及亚太市场销量持续下滑及伊朗战争推高能源成本。受此影响，宝马股价重挫创逾五年新低，欧洲汽车板块集体走弱。分析师指出这是行业结构性困境的体现，中国市场疲软成为最大业绩拖累。

中国市场失守，宝马业绩指引暴雷，股价重挫至逾五年新低！

本周全球要闻涵盖宏观、政策及科技领域。国内方面，沪深交易所出台主动 ETF 指引，潘功胜提出完善利率调控机制，国务院推进 “人工智能 +” 行动，市监总局整治外卖平台补贴内卷。国际方面，美国 5 月零售销售超预期增长，英国通胀持稳；韩国央行警告 AI 奖金加剧通胀；IEA 下调石油需求预期；特朗普否认伊朗重建基金报道；英伟达 B200 租赁价翻倍，博通反驳 TPU 延期传闻；SpaceX 上市获散户热捧。

周三美股盘前你需要了解的全球要闻

U.S. retail sales rose 0.9% month-over-month in May, exceeding expectations. Although rising gasoline prices driven by the Iran conflict boosted gas station revenues, retail sales still grew 0.7% after excluding this factor, indicating resilient consumer demand

Quick Take on U.S. May Retail Sales

Following the release of U.S. retail sales data for May, the U.S. Dollar Index saw a slight short-term surge to 99.64. U.S. stock futures showed little volatility, with Nasdaq-100 futures rising approximately 0.6%. The yield on the 10-year U.S. Treasury note stood at 4.440%, while spot gold edged up in the short term to $4,327.37 per ounce

The overall funding situation in the Hong Kong stock market is weak. Semiconductor stocks strengthened due to foreign capital raising storage prosperity expectations; HSBC reached a new high in stock price due to interest margin logic, while the domestic banking sector performed poorly due to weak macro data and profit-taking. Resource stocks, especially in the oil sector, weakened, while gold is expected to rebound. Xiaomi's stock price is under pressure from consumer electronics and automotive delivery targets, but AI layout and repurchase plans provide support. The market is focused on the FOMC meeting and subsequent structural opportunities

Hong Kong Stock Review: Still Relatively Weak

The chairman of the China Securities Regulatory Commission, Wu Qing, expressed support for the launch of active ETFs on the Shanghai and Shenzhen stock exchanges to enrich investment products and tools. At the same time, the State Administration for Market Regulation is soliciting opinions on new regulations for food delivery platforms, prohibiting long-term large subsidies that disrupt market order. In addition, a Saudi mining company is inspecting CIDI to promote unmanned transportation cooperation in mining areas. As a result of this news, CIDI's stock price surged over 35%

Zhitong Hong Kong Stock Analysis | Active ETFs Stimulate Technology Strength Again, Observing the Federal Reserve's Operations in the Era of Wosh

国投证券林荣雄团队认为市场转入宽幅震荡，AI 与新能源组成的 “新宁组合” 将引领结构调整。针对 AI 科技是否见顶的争议，团队澄清并未看空，但基于实战角度前瞻性地探讨科技卖点，旨在引发市场对科技板块高位风险的关注与讨论。

黄金和 AI：谁在见顶？

The UK's Competition and Markets Authority (CMA) has introduced new regulations requiring Google to enhance the transparency and fairness of its search rankings, and to allow users to transfer their search data to third-party platforms. This move aims to promote market competition and improve service quality, as the CMA has previously determined that Google holds a strategic market position

The UK regulator has introduced new rules for Google Search aimed at promoting market competition

The State Administration for Market Regulation released the "Ten Guidelines for Regulating Subsidy Practices on Food Delivery Platforms (Draft for Comments)," aiming to curb irrational subsidy competition and maintain market order. Meituan, Taobao Instant Shopping, and JD.com Food Delivery all issued statements expressing firm support for the guidelines, promising to actively cooperate with regulators, fulfill their primary responsibilities, and promote a shift in the industry from price wars to healthy competition based on quality and service, thereby fostering high-quality development