Semiconductor

Today’s Key News Recap

QCOM

HOOD

ABNB

09868

600519

XPEV

SOXS

SOXL

SOXX

CP00062

300024

000876

1106 | Dolphin Research Focus: 🐬 Stocks 1. $XPeng(XPEV.US) On November 5th, XPeng Technology Day, the new generation humanoid robot IRON was officially unveiled and topped the trending searches, even sparking discussions suggesting it was &#34;a real person in disguise.&#34; It features a bionic design, with 82 degrees of freedom throughout the body and 22 degrees of freedom in the hands, equipped with 3 Turing AI chips and a physical world large model, with a total computing power of 2250 TOPS, and debuts solid-state battery technology. The robot is planned for mass production by the end of 2026...

Qualcomm

Robinhood

Airbnb

XPENG-W

Block

Moutai

XPeng

Direxion Semicon Bear 3X

Direxion Semicon Bull 3X

iShares Semiconductor ETF

SIASUN

New Hope

Alaska Air

XPeng humanoid robot's catwalk amazed the audience; Moutai announced repurchase + dividend｜Today's Important News Review

GOOG

GOOGL

09901

01797

HMTD

03690

MPNGY

83690

GGLS

GGLL

KONG

RISE

NWSA

1027 | Dolphin Research Focus: 🐬 Macro/Industry 1. On October 25-26 local time, China and the United States held economic and trade consultations in Kuala Lumpur. The two sides reached a preliminary consensus on properly addressing several important economic and trade issues of mutual concern, and the next step will be to go through their respective domestic approval procedures. The easing signals in China-US economic and trade relations help to restore market risk appetite, coupled with positive signals from macroeconomic data, leading to a collective surge in Hong Kong and A-shares today...

Alphabet - C

Alphabet

NEW ORIENTAL-S

EAST BUY

Meituan HK SDR 5to1

MEITUAN

New Oriental EDU & Tech

Meituan

MEITUAN-WR

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

Formidable Fortress ETF

Rise Oil & Gas, Inc.

News

Both Hong Kong and A-shares Rise; Meituan Officially Releases and Opens Source Its Video Generation Model | Today's Important News Recap

TSMC

Financial Analysis

AVGO

INTC

OPEN

AAPL

NVDA

ASIC

AMDL

AAPB

AAPD

AAPU

AAPX

AAPY

04335

TSMC released its Q3 2025 financial report (ending September 2025) before the U.S. stock market opened on the afternoon of October 16, 2025, Beijing time. Key points are as follows: 1. Revenue: TSMC's revenue for this quarter was $33.1 billion, a quarter-on-quarter increase of 10.1%, mainly driven by the stocking of electronic products such as iPhones and the growing demand for AI chips. The company's revenue for this quarter exceeded the upper limit of the guidance range ($31.8-33.0 billion), partly due to the depreciation of the U.S. dollar. In terms of New Taiwan dollars, the company's quarterly revenue increased by about 6%...

Broadcom

Intel

Opendoor Tech

Taiwan Semiconductor

Apple

NVIDIA

Ategrity Specialty Holdings LLC

GraniteShares 2x Long AMD Daily ETF

GraniteShares 2x Long AAPL Daily ETF

Direxion Daily AAPL Bear 1x Shares

Direxion Daily AAPL Bull 2X Shares

T-Rex 2X Long Apple Daily Target ETF

Kurv Yield Premium Strategy Apple Aapl ETF

INTEL-T

"Dominant" TSMC, is it the strongest king in the AI era?

APLY

NVDL

07788

07388

NVDY

TSMC Quick Interpretation of Financial Report: The company's quarterly financial report performed well, with revenue and gross margin exceeding the revised expectations of buyers. Specifically for this quarter's financial report:1) Revenue: Quarterly growth of 10%, mainly driven by shipment volume. Entering the third quarter, electronic products such as iPhones began the stocking phase, directly driving the seasonal increase in shipment volume. It is noteworthy that part of this quarter's quarterly growth was contributed by the depreciation of the US dollar. From the perspective of the New Taiwan dollar, the company's quarterly revenue grew by 6%, basically in line with expectations.2) Gross Margin: The company's gross margin for this quarter reached 59.5%, significantly better than market expectations (57.3%). With average prices remaining relatively stable, the growth in gross margin was mainly due to the decline in unit fixed costs (depreciation and amortization). The substantial increase in shipment volume this quarter diluted the fixed cost per wafer under the scale effect.Compared to this quarter's data, the market is more concerned about the company's capital expenditures and future operational guidance.① Capital expenditure range increased to $40-42 billion, with speculation that fourth-quarter capital expenditure will reach $10.6-12.6 billion; ② The company expects next quarter's revenue to be $32.2-33.4 billion, which is close to buyer expectations. The biggest surprise is that the company provided a gross margin close to 60%, far exceeding market expectations (57.3%).TSMC itself is the absolute leader in the wafer manufacturing industry, and with the mass production of 2nm, the company will further widen the gap with competitors. With its leading manufacturing capabilities, AI chips from manufacturers like NVIDIA and Broadcom require TSMC for production. Therefore, in this round of AI Capex boom, TSMC is the most important link in the AI semiconductor industry chain.If major cloud service providers and companies like OpenAI significantly increase capital investment again, it will provide strong support for TSMC's performance growth and valuation. For more detailed content, please follow Dolphin Research's subsequent specific commentary and management Minutes. $Taiwan Semiconductor(TSM.US)

YieldMax AAPL Option Income Strategy ETF

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

DJTWW

PHUN

TSLA

.IXIC

“Elected” Trump? This wave of American citizens is the first to be sacrificed, used for federal deleveraging and industrial return. $Tesla(TSLA.US) $NASDAQ Composite Index(.IXIC.US) $iShares Semiconductor ETF(SOXX.US)Dolphin Research mentioned earlier that Trump's economic governance philosophy (see the link below).But the order of this philosophy is very important.And Trump, in practice, is clearly not about cutting taxes first and then raising tariffs. This is actually the familiar concept of &#34;breaking before establishing&#34; from the past two years domestically. In this process of &#34;breaking before establishing,&#34; the interests of ordinary citizens are the first to be sacrificed.Raising tariffs is indeed a way to protect domestic vulnerable industries, aimed at promoting industrial return. However, in reality, the cost of raising tariffs is not only borne by exporters; in the case where the U.S. cannot quickly replace domestic production capacity and user demand still exists, the end consumers need to bear part of the product premium brought by tariffs.Moreover, from the perspective of Trump's first month in office, the so-called government cost reduction and efficiency improvement, and expenditure reduction, have not been reflected in the federal deficit for February—In January, the U.S. fiscal deficit, including interest costs, was nearly $130 billion, while excluding interest payments, it still stood at a deficit of $49 billion. (PS Currently, there are only some signs of a slowdown in federal hiring in the new employment structure for February.)Additionally, as it aims to make tax cuts permanent, the places where fiscal revenue can increase are very limited, while fiscal expenditure is very necessary; thus, the U.S. debt balance can only control the slope of its increase, and the upward trend is absolutely certain. Historically, during peacetime in the U.S., there has been basically no reduction in the absolute value of fiscal expenditure.From the current results, in the detailed expenditure structure of the budget, Trump has chosen interest payments (which account for 13% of total federal expenditures) as the main operational target.The newly appointed Treasury Secretary does not agree with Yellen's approach of issuing short-term debt as a stopgap, and currently, the proportion of short-term debt in the U.S. is too high; after maturity, if it is replaced with long-term debt to extend its life, the yield on long-term debt will become very important.Raising tariffs may fuel short-term inflation, but after long-term growth becomes uncertain, the yield on long-term debt can drop, even leading to an inverted yield curve.In this process, ordinary American citizens will bear part of the cost of raising tariffs, leading to a relative decline in purchasing power, but once the yield on long-term debt decreases, the government's cost of borrowing long-term funds will also decrease.To some extent, this can be understood as a reversal of the helicopter money during the pandemic, where the government concentrated on absorbing private leverage; now it is doing the opposite: residents are starting to become the force-bearing units for government deleveraging, and what was originally absorbed must be partially expelled.Throughout the process, there is also an effort to maintain the relative bargaining power of enterprises compared to residents, or to protect the main body of employment.But the key issue here is that expectation management is a super significant behavioral economics concept; it is hard to say that once residents' expectations worsen, they will directly enter a state of precautionary savings.However, with such a significant policy shift, from the perspective of the stock market, facing this level of uncertainty in policy upheaval, the only thing funds can do is to run away first; after all, valuations were too high to begin with, and once they start running, there is no hesitation, just swift action.Therefore, this wave of decline in the U.S. stock market can initially look favorably at previously unattainable high-quality companies, but there is no need to rush to bottom-fish; it is better to first observe the changes in the rhetoric of Trump and the Treasury Secretary. <figure class="image"></figure><a href="https://longportapp.cn/zh-CN/topics/27779831">https://longportapp.cn/zh-CN/topics/27779831</a>

如何理解这轮川普关税大锤？ - LongPort

Trump Media & Tech

Trump Media & Tech - CW28

Phunware

Tesla

NASDAQ Composite Index

688981

00981

ASML

Consumption has declined, and the semiconductor sector immediately rallied.This basically confirms what I mentioned in last week's short review (https://longportapp.com/zh-CN/topics/25164480): funds are gradually moving out of dividend stocks, and the market rotation will shift between consumption and tech sectors.A key reason for the tech rally is a piece of news over the weekend: the U.S. Congress is stirring up trouble again, asking semiconductor equipment manufacturers like Lam Research, Applied Materials, Tokyo Electron, and ASML to provide sales data related to Chinese clients.Will a new round of confrontation begin? But the momentum of China's semiconductor equipment sector must rise first!$SMIC(00981.HK) $ICBCCS Guozheng Semiconductor Chip ETF(159665.SZ) $Semiconductors(20245.HK)

川大回归，国内的政策选择，退路基本打没了，剩下的就是华山天险一条路——再通胀，这里包含了资产的再通胀 - LongPort

SMIC

Acquisition for revenue growth without profit growth

Broadcom "soaring"? AI cannot support the collapse of traditional semiconductors

US Tech Stocks Experience Major Pullback This Week, AI-Related Companies Lose Nearly $1 Trillion in Market Cap

AMD acknowledges that the Intel-NVIDIA partnership will create significant competitive pressure

TSMC will hold the 2025 China OIP Ecosystem Forum in Nanjing

AMD to Host 2025 Financial Analyst Day on November 11

AMD to Host Investor Day on November 11, 2025

A new glasses-free 3D handheld powered by Intel's Lunar Lake chip is announced.

Market Focuses on AMD's Analyst Day Next Week, with Expectations of Potentially Significant Positive Announcements

AMD to Attend Barclays Global Technology Conference

AMD to participate in Microsoft's annual tech conference, Microsoft Ignite

China Eases Export Controls on Key Semiconductor Materials Gallium and Germanium to the US

Indian Ambassador Discusses Intel's Semiconductor and AI Plans in India with Intel CEO

AMD to Participate in Supercomputing Conference 2025 (SC25)

Musk Considers Building a Wafer Fab, NVIDIA CEO Jensen Huang Comments on the Idea

Competitor AMD feels pressure and cuts prices due to NVIDIA's collaboration with Intel

Taipei City government clears the way for construction of NVIDIA's Taiwan headquarters

Analyst Expresses Doubts About Musk's Proposal for Joint Wafer Fab with Intel

Tech media analysis points out that the 800V data center architecture promoted by NVIDIA has become a new trend

Analyst notes AI stocks have not yet peaked, mentioning Jensen Huang's recent visit to South Korea

A laid-off Intel engineer is accused of stealing confidential company data after termination

A Brokerage Raises NVIDIA's Stock Price Target to $350

Motorsport Gaming US

Bio-Key

Gulf Island Fabrication

WINTERGREEN ACQUISITION CORP. COM USD0.0001(S/R)

Organogenesis

Rubico

Check Cap

Globus Medical Inc 

Eastman Kodak

Femasys