Market Snapshot
Before the market opened on Friday, the three major U.S. stock index futures rebounded after a decline, with Nasdaq futures turning positive. As of the time of writing, $E-mini Dow Futures (JUN6) (YMmain.US)$ down 0.37%, $E-mini NASDAQ 100 Futures (JUN6) (NQmain.US)$ up 0.05%, $E-mini S&P 500 Futures (JUN6) (ESmain.US)$ down 0.12%.
According to Fars News Agency of Iran, today (May 4), two Iranian missiles 'hit a U.S. warship.' The report stated that this U.S. vessel was 'violating traffic and shipping safety regulations, intending to pass through the Strait of Hormuz,' and 'was hit by missiles after ignoring warnings from the Iranian Navy.' The report claimed that due to the attack, the U.S. warship could not continue its voyage, forcing it to retreat and leave the area. However, U.S. Central Command issued a statement on social media on May 4, denying that any U.S. Navy ships were struck by Iranian missiles.
$Data storage stock (LIST23925.US)$ continued to rise before the market open, $Seagate Technology (STX.US)$ with an increase of over 4%. $Micron Technology (MU.US)$ rose nearly 3%, $SanDisk (SNDK.US)$ Rising more than 2%.
$Optical Communication (LIST23979.US)$ sectors generally rose before the market open, $Lumentum (LITE.US)$ 、 $Coherent (COHR.US)$ Increasing over 3%, $Applied Optoelectronics (AAOI.US)$ Rising more than 2%.
$Bitcoin (BTC.CC)$ once reached above $80,000, $Crypto (LIST20010.US)$ showed strong performance before the market open, $Circle (CRCL.US)$ Up nearly 6%, $Coinbase (COIN.US)$ rose nearly 3%, $Strategy (MSTR.US)$ Rising more than 2%.
Individual Stock News
GameStop proposed to acquire eBay at $125 per share, or approximately $56 billion.
The Wall Street Journal reported that, $GameStop (GME.US)$ Chief Executive Officer Ryan Cohen stated that he is actively proposing to acquire $eBay (EBAY.US)$ The offer, and believes there is a way to make this e-commerce company a stronger competitor to Amazon.com. As of press time, eBay's pre-market rose over 8%.
Norwegian Cruise lowers full-year profit guidance due to rising fuel costs amid Middle East conflict
$Norwegian Cruise (NCLH.US)$ Revised its annual profit guidance downward as the uncertainty surrounding US-Iran negotiations has increased the likelihood of prolonged supply disruptions in the Middle East, driving up oil prices. Cruise operators are under pressure from continuously rising fuel costs. Norwegian Cruise noted that unrest in the Middle East has raised its fuel expenses while also prompting consumers to reassess travel plans, particularly trips to Europe. As of press time, Norwegian Cruise's pre-market fell over 6%.
Micron CEO: AI is still in its early stages, but memory supply is already insufficient. This year's DRAM and NAND demand could consume over half of the market.
$Micron Technology (MU.US)$ The CEO stated that as inference scales expand, token demand will continue to rise, with token generation speed relying on faster and higher-capacity memory - 'Memory has become a strategic asset for customers.' He emphasized that the core issue at present is not demand or pricing but rather the extreme tightness of supply itself, which cannot be quickly expanded.
The demand for DRAM and NAND driven by AI is expanding at a rate that exceeds the industry's supply capacity. According to current trends, this portion of demand is expected to surpass 50% of the memory industry's total addressable market (TAM) this year—while analysts believe that supply bottlenecks are unlikely to see substantial relief before 2028.
Will Google's new TPU orders go to Intel? Ming-Chi Kuo: Google wants to save even on MediaTek’s profits, and Taiwan Semiconductor has a significant yield advantage.
Guo Mingqi pointed out that $Intel (INTC.US)$ The current validation yield for EMIB-T advanced packaging is approximately 90%, but it remains significantly below the 98% required for mass production, becoming a key risk factor. Meanwhile, $Alphabet-C (GOOG.US)$ In an effort to reduce AI chip costs and compete with $NVIDIA (NVDA.US)$ , is attempting to bypass MediaTek and directly purchase wafers from Taiwan Semiconductor, promoting a restructuring of the supply chain. $Taiwan Semiconductor (TSM.US)$ On the other hand, it carefully balances the interests of multiple parties in terms of capacity allocation and cooperation pathways. Overall, packaging yield and cost control are jointly determining the success or failure of Google’s AI chip strategy.
For the first time in a decade, Apple is reportedly considering a price increase, with the iPhone 18 potentially set to become more expensive.
Over the past ten years,$Apple (AAPL.US)$For the first time in a decade, Apple mentioned 'price increases' as an option to address cost pressures in its quarterly report. Based on this, Morgan Stanley predicts that the entire iPhone 18 lineup, set to be released in September this year, may see price hikes of over $100 for the same configurations to offset the surging costs of NAND flash memory and DRAM. This marks the first time in ten years that Apple has proactively included product pricing as a tool for profit management in its public disclosures, signaling a move with significant implications.
Global Macro
U.S. media: Trump is 'tired' of the deadlock on Iran issues and wants to reach a deal.
Axios, a U.S.-based news website, reported on the 4th, citing a senior U.S. official, that President Trump is tired of the stalemate on Iran characterized by 'no deal, no war.' The senior official said, 'President Trump wants action; he does not want to sit and wait. He wants to exert pressure, and he wants to strike a deal.'
Corporate earnings resilience outweighs war concerns! Under the AI bull market narrative, US stocks may break the 'May curse'.
Morgan Stanley strategists noted that robust earnings from U.S. companies, led by a thriving technology sector, are overshadowing concerns that Middle East conflicts could weigh on the stock market. In a report, the team of strategists led by Michael Wilson wrote that the first-quarter earnings season delivered strong results, with the median earnings per share (EPS) of S&P 500 companies exceeding market expectations by 6%, marking the strongest performance in four years. Meanwhile, over the past month, earnings forecasts for the S&P 500 across various time horizons have been revised upwards—expectations for Q2 rose by 2%, while projections for full-year 2026 and the next 12 months increased by 3% and 4%, respectively.
Unshackling quota constraints! After leaving OPEC, the UAE accelerates oil investments with a $55 billion expansion plan.
The Organization of the Petroleum Exporting Countries (OPEC) issued a statement on May 3 confirming that the United Arab Emirates (UAE) had officially exited the organization. The head of the UAE's national oil company stated on Monday that this allows the UAE to accelerate investments and expand its operations. Sultan Al Jaber, CEO of Abu Dhabi National Oil Company (Adnoc), said in a speech on Monday, 'This decision aligns with our national interests and long-term strategic goals, fits our industrial, economic, and developmental vision, and enhances our ability to accelerate investments, expand operations, and create value.'
The yen broke through 156. Will Japan intervene again? Goldman Sachs: Authorities have the capacity to intervene 30 more times.
The Japanese yen surged sharply during Asian trading hours on Monday, keeping markets highly alert to whether Japanese authorities might intervene again. Goldman Sachs pointed out that with $1.2 trillion in foreign exchange reserves, Japan theoretically has the capacity to intervene 30 more times at the same scale of 5 trillion yen. However, authorities are expected to use their resources prudently, intervening selectively during rapid yen depreciation to maximize the impact of interventions.
Top 20 pre-market trading volume stocks in the U.S.
Reminder of the US stock market macroeconomic calendar
(The following times are in Beijing Time)
22:00 U.S. March factory orders month-over-month rate
At 00:50 the following day, Williams, the permanent voting member of the FOMC and president of the Federal Reserve Bank of New York, will deliver a speech.
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