Real Estate Services

Opendoor Tech

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Conference Minutes

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Below is Dolphin Research's full earnings call Trans for $Costco Wholesale(COST.US) FY26 Q1. For our First Take, see 'US Gov. shutdown victim? Is Costco's last leg down?'1) Key metrics recap. Headline results: net income of $2.001bn and diluted EPS of $4.50.Excluding tax benefits related to SBC, net income and EPS rose 13.6% YoY. Sales: net sales were $65.98bn (+8.2% YoY), with comps up 6.4%...

Costco Wholesale

Doordash

Costain Group PLC

Uber Tech

Ameriprise Financial

Signet

Opendoor Tech Series A - CW26

Opendoor Tech Series K - CW26

Opendoor Tech Series Z - CW26

COST (Trans): Confident on inflation; plans to open 30 warehouses annually.

DELL

Financial Analysis

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Dell Technologies (DELL.N) released its financial report for the third quarter of fiscal year 2026 (ending October 2025) after the U.S. stock market closed on November 26, Beijing time: 1. Core performance: $Dell Tech(DELL.US) reported revenue of $27 billion for the quarter, an increase of 10.8% year-on-year, close to market expectations ($27.3 billion). The company's revenue growth of nearly $2.7 billion this quarter was primarily driven by contributions from AI server shipments. The company's gross margin for the quarter was 20.7%, down 1.1 percentage points year-on-year, slightly better than market expectations (20%). Compared to service revenue...

NVIDIA

Dell Tech

SMIC

Alphabet - C

Alphabet

Broadcom

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Long NVIDIA Daily Target ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

Direxion Daily Googl Bear 1x Shares

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SMIC HK SDR 5to1

Dell DELL: Storage Price Increase Adds to Troubles? AI Guidance Provides Support

Today’s Key News Recap

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1120 | Dolphin Research Focus: 🐬 Macro/Industry 1. The U.S. September non-farm payrolls are set to be released tonight. This is the first monthly employment report issued by the U.S. Bureau of Labor Statistics since the release of August data in September, filling the gap in official employment data caused by the previous government shutdown. The market generally expects an increase of 54,000 in non-farm payrolls for September, with the unemployment rate remaining at 4.3%. However, this data is significantly lagging, and the U.S. Bureau of Labor Statistics has clearly stated that it will not release the October non-farm report. 2. According to foreign media reports, &#34;China is considering introducing new real estate stimulus policies,&#34; leading to intraday fluctuations in real estate stocks today...

Banco Santander SA-Spon

CATL

Direxion Semicon Bear 3X

Direxion Semicon Bull 3X

iShares Semiconductor ETF

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Cisco

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CATL HK SDR 30to1

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US Sep. Payroll to Due Tonight, Property “Rumors” Spark Rally | Daily News Recap

ORCL

OpenAI

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The following are the minutes of AMD's Q3 2025 earnings call, compiled by Dolphin Research. For an interpretation of the earnings report, please refer to the article titled 'AMD: Partnering with Open AI? Not a 'Spare Tire' Lifesaver'.1. Review of AMD's Core Financial DataOverall performance for the third quarter: Revenue increased by 36% year-over-year to $9.2 billion, excluding revenue from MI308 sales to China; net profit increased by 31%; free cash flow grew more than threefold; diluted earnings per share were $1.20, up 30% from $0.92 in the same period last year...

Oracle

Destiny Tech100

Digitalocean

GraniteShares 2x Long AMD Daily ETF

Crane

AMD (Minutes): No new orders disclosed, MI450 focuses on rack-level solutions

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AMD (AMD.O) released its financial results for the third quarter of 2025 (ending September 2025) after the U.S. stock market closed on the morning of November 5, 2025, Beijing time. Key points are as follows: 1. Overall Performance: AMD achieved a revenue of $9.25 billion in the third quarter of 2025, a year-on-year increase of 35.6%, exceeding market expectations ($8.74 billion). The year-on-year growth in revenue was mainly driven by the client and gaming business, as well as the data center business. The company's gross margin (GAAP) for this quarter was 51.7%, an increase of 1.6 percentage points year-on-year...

Ategrity Specialty Holdings LLC

Meta Platforms

Microsoft

Intel

Amazon

INTEL-T

AMD: 'Tied to' Open AI? Not a 'Backup' Lifesaver

AMD Quick Interpretation: The company's revenue and gross margin for this quarter exceeded previous guidance expectations, primarily driven by growth in the data center, client, and gaming businesses.With the recovery of the PC market, the company's client business reached a new high, and the gaming business has clearly rebounded from the bottom.The most watched data center business achieved revenue of $4.34 billion this quarter, an increase of $1.1 billion quarter-on-quarter, better than market expectations ($4.14 billion). This was mainly driven by the increased production of the MI355 series, with Dolphin Research estimating that AI GPUs contributed approximately $800 million of the incremental revenue.Regarding the company's guidance, it expects next quarter's revenue to be between $9.3 billion and $9.9 billion, with the midpoint ($9.6 billion) representing a 3.8% quarter-on-quarter growth, still mainly driven by the MI355. The company's non-GAAP gross margin for the next quarter is expected to be around 54.5%.As Open AI signed a major contract with the company, market focus has completely shifted from gaining CPU market share to the data center field.Meanwhile, the company's stock price has surged from around $150 to over $200, primarily catalyzed by Open AI.Open AI's 6GW major contract is expected to bring the company approximately $100 billion in revenue, providing support for the company's sustained growth in the future.On the other hand, with the help of Open AI, the market is also looking forward to the subsequent MI450 series products and the enhancement of competitiveness in the AI chip market, and the current high valuation has already factored in the expectation of high growth over the next 2-3 years.For this earnings report, the market is more focused on progress in the data center field, such as the status of new orders and the progress of the MI450, which are more attractive than the next quarter's guidance. For more information, please follow Dolphin Research's subsequent detailed commentary and management minutes. $AMD(AMD.US)

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1. Key Points of the GTC Conference 1. NVIDIA has established a strategic partnership with Nokia, investing $1 billion in Nokia's equity. They released a new product series called 'NVIDIA ARC,' which Nokia will use for future base stations to upgrade 6G and AI capabilities; 2. They released the NVQLink interconnect architecture and the CUDAQ platform, which directly connects GPU supercomputers with QPUs (quantum processors), laying the groundwork for quantum computing processors; 3. $NVIDIA(NVDA.US) is collaborating with the U.S. Department of Energy to build the largest AI supercomputer in the United States...

Nokia Oyj

Nokia

Bluebird Bio

HeartBeam

HEARTBEAM INC C/WTS 31/10/2026 (TO PUR COM)

 GTC Conference: Next Year's Shipment 'Blockbuster', is NVIDIA‘s Limit Really “Sky”？

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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%...

Qualcomm

Taiwan Semiconductor

Apple

GraniteShares 2x Long AAPL Daily ETF

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T-Rex 2X Long Apple Daily Target ETF

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

APLY

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

OPEN Options Volume and Open Interest with Recent News

Opendoor Tech's Stock Rises Sharply and Attracts Retail Investors as a Meme Stock

Opendoor Technologies Receives Neutral Rating from TipRanks

Analyst Maintains Hold Rating on Opendoor Technologies

Opendoor Technologies Interim CFO Sells Company Shares

Morgan Stanley Maintains Hold Rating on Opendoor Technologies

Opendoor CEO Pledges to Buy $1M in Company Shares

Opendoor Technologies' stock price rises by 15.6%

KBW Analyst Maintains Opendoor's Sell Rating, Raises Price Target

Roam Collaborates with Opendoor to Integrate Mortgage Tools

Opendoor Tech released FY2025 Q3 earnings on November 6 After-Market EST, actual revenue USD 915 M (forecast USD 882.31 M), actual EPS USD -0.1213 (forecast USD -0.0712)

Opendoor Tech released FY2025 9 Months earnings on November 6 After-Market (EST), actual revenue USD 3.635 B, actual EPS USD -0.2813

Opendoor Tech to Release FY2025 Q3 Earnings on November 6 After-Market EST, Forecast Revenue USD 882.31 M, EPS USD -0.0712

Opendoor Technologies Inc. Shares Surge 13.37% on Rate Cut Expectations

Morgan Stanley Raises Opendoor's Target Price to $6

Opendoor Technologies Inc. Reports Q3 2025 Financial Results

Roundhill Investments Relaunches MEME ETF

Opendoor Technologies Accepts Bitcoin and Other Cryptocurrencies for Home Purchases

Opendoor Technologies Receives Preliminary Approval for Settlement Agreement

Opendoor Technologies Inc. Director Eric Chung-Wei Wu Reports Acquisition of Common Stock