HK, US stocks top stories

Prediction: This Company Is All Set to Hit a $5 Trillion Market Cap in 2026 (Hint: It's Not Nvidia)

An analyst predicts Microsoft could reach a $5 trillion market cap by 2026, driven by its AI advancements and strategic investments, including a 27% stake in OpenAI. Microsoft's AI tools, like Copilot, are gaining traction, with 90% of Fortune 500 companies using them. The company's commercial remaining performance obligations (RPO) indicate strong future growth, potentially outpacing current revenue expectations. Microsoft's current market cap is $3.6 trillion, needing a 41% increase to hit the $5 trillion milestone.

Morgan Asset Management China Equity Team Outlook 2026: Anchoring on the Global Competitiveness of High-Quality Chinese Companies

The Morgan Asset Management China Equity Team shared their assessment of market opportunities for 2026 at a strategy meeting. Deputy General Manager Du Meng pointed out that as China's global industrial competitiveness improves, international investors are re-evaluating the allocation value of Chinese assets. Du Meng emphasized that the judgment of high-quality assets should break through traditional frameworks, focusing on stable growth in industrial demand and the sustainability of cash flow

Market Predictions Bet on "Global Market Value Leader": Next Year, Google Will Challenge NVIDIA and Apple Head-On with AI Chips

According to market predictions from Polymarket, the probability of Alphabet, Google's parent company, becoming the world's largest company by market capitalization before December 2026 is 33%, second only to NVIDIA's 37%. The company currently has a market capitalization of $3.7 trillion, ranking third globally, behind NVIDIA and Apple. Analysts believe that Google, with the strong performance of its large language model Gemini and custom AI chip TPU, is expected to challenge the market positions of NVIDIA and Apple

Zhejiang Merchants Futures Chief Strategist and General Manager of Investment Consulting Department Xu Tao: The biggest risk point in the commodity market next year is the U.S. stock market, but a "big pit" is a better buying opportunity

Zhejiang Merchants Futures Chief Strategist Xu Tao stated at the Alpha Summit that the biggest risk to the commodities market next year comes from the U.S. market, rather than the supply and demand of the commodities themselves. Political polarization in the U.S., AI investments squeezing traditional industries, and the Federal Reserve's loose policies could lead to volatility in the U.S. stock market, which in turn may affect the commodities market. However, this volatility could also present a buying opportunity

Scaling Law is not dead! Core executives of Gemini reveal that Google already has a disruptive key

Sebastian Borgeaud, the head of pre-training for Google's DeepMind's Gemini, revealed that significant technological innovations in long context processing efficiency and context length expansion will occur within the next year. He also mentioned interesting discoveries in attention mechanisms that could reshape research directions. Borgeaud emphasized that the Scaling Law has not disappeared but is evolving

Altman faces $1.4 trillion skepticism: As long as computing power is still in short supply, OpenAI must continue to burn cash

Altman acknowledged that the company's current training cost growth still exceeds revenue growth. However, he emphasized that OpenAI is always in a "computing power deficit" state, which precisely proves strong demand. Altman stated that the current severe shortage of computing power significantly limits the company's revenue growth potential, which is the core reason for continuing large-scale investments

Zhang Bin from the Chinese Academy of Social Sciences: In the short term, the most important thing for consumption growth is to enlarge the nominal GDP cake

Zhang Bin, deputy director of the Chinese Academy of Social Sciences, believes that the key to consumption growth in the short term is to expand nominal GDP. The growth of nominal GDP will promote residents' income, government tax revenue, and corporate profits, thereby naturally driving consumption growth. Zhang Bin suggests using counter-cyclical fiscal and monetary policies to raise the price level, aiming for a GDP deflator index of 2%, thus achieving nominal GDP growth

Dialogue with Pony AI's Wang Haojun: Robotaxi is entering the stage from 1 to 1000

Gradually profitable

Sell all Nvidia, mortgage Arm to leverage! SoftBank bets everything on OpenAI, striving to secure funding by the end of the year

According to reports, SoftBank is aggressively raising funds to fulfill its $30 billion investment commitment to OpenAI, aiming to complete the remaining $22.5 billion injection by the end of the year. Masayoshi Son has fully liquidated $5.8 billion worth of Nvidia shares, reduced his stake in T-Mobile by $4.8 billion, and plans to mortgage Arm shares to obtain a $11.5 billion margin loan

GAC "tightens its belt"

Fight for Revival

Clocktower Chief Strategist Kevin Wang: The macro focus in 2026 is on inflation, beware of the risk of a shift in monetary policy expectations

Clocktower Chief Strategist Kevin Wang stated at the Alpha Summit that the global macro focus in 2026 is on inflation. Currently, U.S. inflation is above the policy target, and the market expects multiple rate cuts. He warned investors to prepare for the possibility that the Federal Reserve may cut rates fewer times than expected and emphasized that if inflation rises above 3.5%, the Federal Reserve may shift to raising rates

Clocktower Chief Strategist Kevin Wang: Global allocation imbalance is significant, and Chinese assets may become the biggest "short squeeze" opportunity in the next decade

Clocktower Chief Strategist Kevin Wang pointed out at the Alpha Summit that global capital allocation is severely unbalanced, with international institutional investors averaging less than 2% allocation to China, far below China's approximately 20% share of global GDP. He believes that this allocation gap, along with expectations of a long-term weakening of the dollar, could make Chinese assets one of the most promising "short squeeze" opportunities in the next decade

U.S. Treasury Secretary Janet Yellen: Inflation is moving towards the Federal Reserve's 2% target

Federal Reserve: U.S. bank deposits last week were $18.519 trillion, up from $18.484 trillion the previous week