---
title: "Breakfast | S&P 500 Nasdaq rise for the third consecutive day, Meta plunges 18% after hours due to revenue guidance"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/202743754.md"
description: "Several investment banks have lowered Tesla's target price, but Tesla's closing price surged by over 12%. Meta's potential market value has decreased by over $220 billion, and its revenue guidance has disappointed Wall Street. NVIDIA's H200 has started deliveries. Qualcomm has launched the Snapdragon X Plus platform. IBM is set to acquire the software company HashiCorp. President Biden signed a bill forcing ByteDance to divest its TikTok US business. Jia Shi, Huaxia, Boshi Bitcoin ETF, and Ethereum ETF have been approved in Hong Kong"
datetime: "2024-04-25T00:06:30.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/202743754.md)
  - [en](https://longbridge.com/en/news/202743754.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/202743754.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/202743754.md) | [繁體中文](https://longbridge.com/zh-HK/news/202743754.md)


# Breakfast | S&P 500 Nasdaq rise for the third consecutive day, Meta plunges 18% after hours due to revenue guidance

Good morning! A great day starts with making money.

### Overnight and This Morning Market Update

Overnight, the U.S. stock market showed mixed performance, with the S&P and Nasdaq rising for three consecutive days, while the Dow closed lower, ending its four-day winning streak. Tesla saw its largest two-year gain, while Chinese concept stocks outperformed the broader market for the third consecutive day.

Tesla surged over 12%, marking its largest closing gain since January 3, 2022, and closing at a high not seen since April 12. After Tesla discussed plans to build robot taxis, Uber fell over 2% and Lyft fell over 3%.

Meta fell by 0.5%, and its stock plummeted by 18% after announcing its financial report after hours; Netflix fell by 3.9%, Amazon fell by 1.6%, Apple rose by nearly 1.3%, Alphabet rose by over 0.7% for three consecutive days. Nvidia fell by 3.3%.

Popular Chinese concept stocks continued to rise overall. Nio and Xiaomi rose by over 3%, XPeng fell by over 1%, Li Auto fell by 3.8%. Bilibili rose by approximately 11% for three consecutive days, Tencent rose by over 3%, Alibaba rose by nearly 3%, JD.com rose by over 2%, Baidu and NetEase rose by approximately 1%, Pinduoduo fell by nearly 0.4%.

After hours, large-cap tech stocks generally fell, with Tesla down by 0.95%, Nvidia down by 1.6%, and Amazon down by 2.5%.

### Blue Chips and Hot Stocks

Meta plummeted by 18% after announcing its financial report after hours, with its potential market value decreasing by over $220 billion, as revenue guidance disappointed Wall Street. Meta raised its spending expectations for this year but forecasted second-quarter revenue to be between $36.5 billion and $39 billion, with the midpoint below analysts' expectations of $38.2 billion. The company raised its cost expectations for this year, expecting capital expenditures to reach $35 billion to $40 billion. Previously, expenses were expected to reach $30 billion to $37 billion.

IBM reported first-quarter revenue of $14.46 billion, slightly below the market's expectation of $14.55 billion, compared to $14.252 billion in the same period last year.

IBM will acquire software company HashiCorp for approximately $35 per share. The latter's stock surged triggering a circuit breaker, halting trading, and closing up nearly 7.8%.

Moody's downgraded Boeing's rating from Baa2 to Baa3, with a negative outlook.

The UK Competition and Markets Authority seeks opinions on Microsoft and Amazon's artificial intelligence collaboration.

Apple's Vision Pro head-mounted display marketing director, Frank Casanova, is retiring.

President Biden signed a $95 billion foreign aid package, which includes provisions for forcing ByteDance to divest its TikTok U.S. business within approximately nine months. In response, TikTok vows to fight back through legal means.

Huawei, together with car manufacturers, charging operators, and industry partners, established the Super Charging Alliance.

Huawei and FAW are cooperating to develop intelligent driving heavy trucks? FAW Liberation responds: Both parties are engaged in multi-level long-term cooperation.

Nio: The 2024 Nio ET7 will be officially launched on April 25.

Vanke plans to transfer more than 10 assets in Shenzhen with a total value of over 8.7 billion yuan? Vanke: Actively promoting asset transactions, but the rumored information is not true.

Several investment banks have lowered Tesla's target price.

1.  Mizuho lowered Tesla's target price from $195 to $180
    
2.  UBS lowers Tesla's target price from $160 to $147.
    
3.  HSBC lowers Tesla's target price from $138 to $120.
    
4.  Wedbush lowers Tesla's target price from $300 to $275.
    
5.  Citi raises Tesla's stock target price from $180 to $182.
    
6.  Royal Bank of Canada lowers Tesla's target price from $294 to $293.
    
7.  Barclays lowers Tesla's stock target price from $176 to $162.
    
8.  Truist Securities lowers Tesla's target price from $176 to $162.
    
9.  Canaccord Genuity lowers Tesla's target price from $234 to $222.
    

### Chips and Artificial Intelligence

Meta CEO Mark Zuckerberg: The main focus of artificial intelligence in the next two years is to increase product and user stickiness, followed by profitability.

Qualcomm launches the Snapdragon X Plus platform, which uses the new Qualcomm Oryon CPU, leading competitors by up to 37% in performance and consuming 54% less power.

Media: NVIDIA agrees to acquire Israeli AI startup Deci.

OpenAI: Receives the world's first DGX H200 product delivered by NVIDIA.

SoftBank plans to invest nearly $1 billion in AI computing power and will use NVIDIA chips.

Powerchip's net profit in the first quarter fell by 35.4%, warning that demand for automotive and industrial chips remains weak.

TSMC says its "A16" chip manufacturing technology will start production in the second half of 2026.

SenseTime releases the DayDayUp 5.0 large model: with an inference context window of 200K, claiming to be comparable to GPT-4 Turbo. Class B shares will resume trading on the 25th.

Tencent releases the "Full Domain Intelligence" solution for the automotive industry and partners with WenYuan ZhiXing to build intelligent driving.

### Virtual Currency

CSOP, Huaxia, Bosera Bitcoin ETF, and Ethereum ETF approved in Hong Kong.

### Macro: Take You to See the World

**JPMorgan trading department: The timing for further rise in US stocks is ripe**

The US tactical position indicator used to measure clients' exposure to US stock risks has reached a level indicating attractiveness of the S&P 500 index. After experiencing similar four-week position adjustments, the S&P 500 index typically rises by around 3% in the following 20 days.

Biden signs the Israel and Ukraine Aid Act, including providing over $60 billion in aid to Ukraine and around $26 billion in aid to Israel. It has already been passed by both houses of Congress.

Israel is preparing to immediately launch Operation Guardian of the Walls, with plans already submitted to the United States.

On the afternoon of April 24th, US Secretary of State Blinken arrived in Shanghai for his second visit to China during his tenure.

The EU conducts surprise inspections of Chinese companies' offices in Europe, China's Ministry of Commerce: China expresses strong concern and opposition to this.

The EU announces it is studying investigations into market access and government procurement of medical devices in China, with a response from the Chinese Ministry of Foreign Affairs Central Financial Office, Central Financial Work Commission: The tightening and loosening of financial policies should not be too hasty; financial innovation is necessary, but should not be reckless; optimize the structure of fund supply to avoid idle funds.

China Passenger Car Association: From April 1st to 21st, the retail sales of new energy vehicles reached 420,000 units, a year-on-year increase of 20%.

Will the mainland's new energy vehicle insurance premiums decrease? Industry insiders: Premiums are showing a downward trend.

Rumors circulating online about some areas in Shenzhen lifting purchase restrictions after May 1st, Shenzhen authorities responded that they have not received any relevant notifications

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