Photolithography giant explodes! The index fell sharply

Stock speculation depends Jin Qilin analyst research report , authoritative, professional, timely and comprehensive, to help you tap potential theme opportunities!

April 17 local time. The three major stock indexes of the US stock market closed lower, and the Nasdaq fell more than 1%. By the end of the day, the Dow had fallen 0.12%, the S&P 500 had fallen 0.58%, and the Nasdaq had fallen 1.15%.

　　 Chip manufacturers were the first to bear the brunt of the sell-off after Asma's orders plummeted. On Wednesday local time, Nvidia led the decline among large technology stocks.

As part of the global layoff plan, Tesla plans to lay off 300 temporary workers in its German factory near Berlin. In addition, according to a mandatory notice issued by the U.S. Department of Labor, Tesla has launched a new layoff plan in Buffalo, New York, which plans to lay off 285 employees. At the same time, Tesla is also asking shareholders to approve CEO Mask's $56 billion compensation bill, which was canceled by the judge.

US stocks closed lower

On April 17 local time, the three major stock indexes of the US stock market closed down on the whole line, and all fell back after failing to rise in the opening. By the end of the day, the Dow had dropped 45.66 points, or 0.12%, to 37753.31; The Nasdaq Composite Index fell 181.88 points, or 1.15%, to 15683.37; The S&P 500 index fell 29.20 points, or 0.58%, to 5022.21.

　　 In the new week, the NASDAQ and the S&P 500 index fell continuously. Chip manufacturers were the first to bear the brunt of the sell-off after Asma's orders plummeted. Nvidia led the decline in large technology stocks. With the expiration of the VIX option, there was a seesaw battle between the long and the short, and the volatility index that Wall Street liked most also fluctuated violently.

After the stock market rose by 10% in the first quarter (which is the strongest start of the year since 2019), even considering the continuous strengthening of the economy, American stock investors increasingly doubt how far the market can go in the short term.

Mark Hackett of Nationwide said: "The combination of geopolitical uncertainty, rising interest rates, the Federal Reserve's tough attitude and inflation frustration has made short sellers temporarily dominate."

Powell said this week that after a series of surprising high inflation data, policymakers will cut interest rates longer than previously expected. Federal Reserve officials lowered their forecasts three times by a narrow margin last month, but the futures market shows that investors have only lowered their bets once or twice this year.

"Federal Reserve Chairman Powell is a complete hawk," said Wen Xin and Elias Haddad of Brown Brothers Harriman Bank. "The Federal Reserve wants the market to implement tightening policies for them. The financial situation is still too loose, so it needs to combine higher yields, wider interest margins, a stronger dollar and a lower stock market to tighten the situation."

UBS strategist led by Andrew Garthwaite said: "Although the global stock market faces tactical resistance, this is only a consolidation stage, and it is expected that the stock market will continue to rise this year."

　　 HSBC strategists led by MaxKettner said that the fundamentals and technical trends of the stock market were still supportive, indicating that the recent correction should be temporary. They used the stock market decline to strengthen their bullish stance. "Although real capital investors have recently begun to expand their constructive stance on the stock market, market sentiment and positions have not sent a warning signal."

Morgan Stanley strategists said that in 2024, U.S. corporate profits will be on a "healthier track", and investors are increasingly confident that enterprises can meet expectations.

Asma's performance is far lower than expected

Large technology stocks generally fell. Asmart fell more than 7%, Micron Technology fell more than 4%, Nvidia and Broadcom fell more than 3%, Qualcomm fell more than 2%, Chaowei Computer, Intel, Texas Instruments, Meta, Amazon and Tesla fell more than 1%, Microsoft, Netflix, TSMC and Cisco fell slightly, Lilly and Google A rose slightly.

Tesla fell 1.06%. Since Reuters exclusively reported on April 5 that Tesla had canceled the $25000 Model2 electric vehicle plan, Elon Musk has published some ambiguous posts on social media, claiming that "Reuters is lying", but did not indicate the inaccuracy of the report. In the next two weeks, Musk did not have specific updates, which made Tesla investors feel anxious. Recently, some investors have asked for a clear answer to the Model 2 project and how Musk plans to deal with the decline in global demand for electric vehicles. In addition, Tesla announced on Monday that it would cut more than 10% of its staff, including some senior executives, which further increased shareholders' anxiety. After the announcement of layoffs, Wedbush analysts pointed out that the market urgently needed answers, and said that Tesla's bad news in recent months was like a "horror film", emphasizing that Model2 was a key part of the company's strategic vision. Ross Geber, President and CEO of Gebo Kawasaki Wealth and Investment Management Co., Ltd. and Tesla investor, was more straightforward. He said: "If Tesla does not launch this car, it will be meaningless to invest in Tesla."

　　 In addition, according to insiders quoted on Wednesday, Tesla plans to lay off 300 temporary workers in its German factory near Berlin as part of the global layoff plan. It is understood that the factory has about 12500 employees. In addition, according to a mandatory legal notice from the U.S. Department of Labor, Tesla has launched a new layoff plan in Buffalo, New York, with 285 employees planned to be laid off. Tesla has 2032 employees in the affected locations in Buffalo.

Earlier local time, Tesla said in the latest document submitted to the Securities and Exchange Commission that it requested shareholders to approve CEO Musk's $56 billion compensation bill, which was canceled by the judge. Previously, the US Delaware court announced in January this year that the $56 billion bonus arranged by Tesla for Musk in 2018 was invalid. The document also includes a voting initiative to approve the move of Tesla's registered location from Delaware to Texas.

Google rose 0.69%. Google spokesman said on Wednesday that the company is laying off staff, and the exact number is unknown. This is the latest layoff of the technology giant to control costs. Google spokesman said that layoffs were not company wide and affected employees would be able to apply for internal positions, but did not specify the number of affected employees or the team involved. A small number of affected positions will be transferred to the centers where the company is investing, including India, Chicago, Atlanta and Dublin.

The spokesman added: "From the second half of 2023 to 2024, many of our teams have made changes to improve efficiency, work better, eliminate hierarchy and adjust resources to the most important product issues." According to a business insider report on Wednesday, employees of multiple teams in Google's real estate and finance departments have been affected, The affected financial teams include Google's financial, commercial services and revenue cash businesses. As the company increased investment and built AI products, Google fired hundreds of employees from multiple teams in January, including engineering, hardware and assistant teams. It is reported that Sandal Pichai, CEO of the company, told employees at the beginning of the year that more layoffs are expected.

　　 Microsoft fell 0.66%. According to Reuters, EU antitrust regulators believe that Microsoft's $13 billion investment in OpenAI is not an acquisition, so it will not trigger a formal European merger review. The decision means that the deal will avoid European censorship that may have a significant impact on the US technology giants. Previously, the EU said in January that this transaction might be subject to the consolidation rules in the region. Nevertheless, Microsoft has no voting rights on the OpenAI board of directors, and said at the end of last year that it did not own any shares of ChatGPT.

In addition, on Tuesday, April 16 local time, Microsoft decided to invest $1.5 billion in Abu Dhabi's artificial intelligence group G42, which is its latest major investment in the field of technology. This investment not only strengthens Abu Dhabi's position as an AI center, but also marks the deepening of technical cooperation between the United States and the United Arab Emirates. According to the agreement, Microsoft will get a minority stake in G42, and Brad Smith, vice chairman and president of Microsoft, will join its board of directors. G42 will use Microsoft's cloud computing platform Azure to develop and deploy the AI services it provides to all customers. It is understood that the two companies plan to build data centers in other countries in the future and support an AI developer fund worth 1 billion dollars.

　　 Asma fell 7.09%. Although the results of the first quarter disappointed investors, the company predicted that the semiconductor industry would recover in the second half of this year. According to the financial report, the net bookings of Asmar fell to 3.6 billion euros in the first quarter, far lower than 9.2 billion euros in the fourth quarter of last year and more than 5 billion euros expected by analysts.

According to public data, Asme, headquartered in the Netherlands, is the world's largest photolithograph manufacturer, accounting for up to 80% of the high-end photolithograph market share. All the EUV lithography equipment required by the most advanced process chips of global chip manufacturers are from Asmar.

Apple fell 0.81%. Apple is considering producing some products in Indonesia, which is part of the company's plan to reduce its dependence on China's production base. On Wednesday local time, Apple CEO Tim Cook said after meeting with Indonesian President Joko Widodo that he would assess the feasibility of manufacturing in the local market. The meeting took place after Cook's visit to Vietnam, which has become a growing production base for Apple devices such as AirPods.

It is understood that Apple is diversifying its manufacturing locations to reduce geopolitical risks. The company has also increased production in India and Vietnam, and production in Indonesia may help to better develop the Southeast Asian market. In addition, Cook also opened the fourth Apple Developer College during his visit to Bali to meet the requirements of locally produced components and software in smartphones and other products.

Large bank stocks generally rose

Citigroup rose more than 2%, Goldman Sachs, Bank of America, Wells Fargo and Morgan Stanley rose more than 1%, BlackRock and UBS rose slightly, and JPMorgan Chase fell slightly.

　　 Morgan Stanley rose 1.05%. Morgan Stanley sold US $8 billion of bonds on Wednesday local time after announcing quarterly revenue that exceeded expectations, becoming another bank that entered the US investment grade market this week after JPMorgan Chase and Wells Fargo Bank. Among the four bonds issued this time, the yield of the longest dated 11 year bond was 1.25 percentage points higher than that of the national debt. The initial discussion was about 1.45 percentage points. According to foreign media citing insiders, the funds raised will be used for general corporate purposes. According to market estimates, the six largest banks in the United States will issue up to $33 billion of corporate bonds this month. In addition, the income of Morgan Stanley's trading and wealth management departments also exceeded analysts' expectations.

Analysts said: "We think the valuation of some monetary center banks is higher, especially Citigroup and Bank of America. But considering the recent similar level of interest margin, Morgan Stanley's valuation is higher than Goldman Sachs."

Citigroup rose 2.02%. On Tuesday local time, foreign media reported that Citigroup was continuing to lay off employees. Major banks in the United States continued to lay off staff in the first quarter of this year to reduce costs, with Citigroup laying off the most. After Citigroup completed a comprehensive layoff, the total number of employees decreased by 2000. In addition, Bank of America, Wells Fargo and PNC Finance have about 2000 chief executives. Mark Mason, chief financial officer of Citi, said: "This is part of Citi's plan to reduce 20000 employees in the next two years. ” At the same time, Morgan Stanley and Goldman Sachs reduced the number of employees by 396 and 900 respectively. Nevertheless, Sharon Yeshaya, the chief financial officer of Morgan Stanley, pointed out that investment banks were still engaged in "opportunistic recruitment". In contrast, JPMorgan Chase, the largest bank in the United States, added nearly 2000 employees in the first quarter. The challenges facing the banking industry include rising capital costs, narrowing net interest margin and uneven trading results.

Energy stocks were mixed. Petrobras, Shell and Chevron rose slightly, ExxonMobil, BP, American Energy and ConocoPhillips declined slightly, while Western Oil and Murphy fell by more than 1%. It is reported that Ken Paxton, the attorney general of Texas, is investigating the bank's energy policy for several months. The Auditor General of Texas released a list of companies he believes are boycotting the energy industry. He said at the meeting on Tuesday that he hopes banks can conduct business there to support the state economy.

China concept stocks were mixed. The Nasdaq China Golden Dragon Index fell 0.29%. Xiaopeng Auto rose by more than 3%, Weilai by more than 2%, Aiqiyi and Ideals by more than 1%, Weibo, Bilibili and Tencent Music rose slightly, Pinduoduo, Netease and Futu Holdings fell slightly, and Alibaba and Baidu fell by more than 1%.

When the stock market recovers, open an account first! Intelligent fixed investment, condition sheet, individual stock radar... for you>>

Massive information, accurate interpretation, all in Sina Finance APP

Editor in charge: Hao Xinyu