HK, US stocks top stories

Lucid beats delivery estimates even as EV sales lag production growth

Lucid Group reported a 55% increase in annual deliveries, with fourth-quarter deliveries slightly exceeding expectations at 5,345 vehicles. Production more than doubled to 8,412 vehicles, highlighting challenges in converting output to sales amid weakening EV demand post-U.S. tax credit expiration. The launch of the more affordable Gravity SUV helped offset demand issues. Despite the positive delivery figures, the overall EV market faces pressure, as competitors like Tesla and Rivian also reported declining sales. Lucid plans to release its fourth-quarter results on February 24.

Qualcomm releases a new, more affordable version of the X2 laptop processor

Qualcomm has released the new X2 Plus laptop processor, further expanding the personal computer processor market. The processor comes in two versions, equipped with 10 and 6 computing cores respectively, and features a powerful neural processing unit (NPU) designed to accelerate the operation of AI software. Its design aims to provide laptop users with faster response times and longer battery life, reducing reliance on charging power sources

Qualcomm launches a complete suite of robotic technology solutions to support embodied intelligence from household robots to full-sized humanoid robots

Qualcomm has launched a complete general-purpose robotics full-stack architecture based on a high-performance SoC platform with high security, integrating hardware, software, and AI capabilities. This architecture is industry-leading in energy efficiency and scalability, supporting everything from personal service robots and next-generation autonomous mobile robots (AMR) to full-sized humanoid robots with reasoning, adaptation, and decision-making capabilities. The new end-to-end architecture accelerates automation in industries such as retail, logistics, and manufacturing by empowering versatile, continuously learning robotic forms. As the core of this architecture, Qualcomm simultaneously introduced the Dragonwing™ IQ10 series, which is its latest flagship robot processor aimed at humanoid robots and advanced autonomous mobile robots

Almost No One is Buying Apple's Vision Pro Headset

Apple's Vision Pro headset, launched in early 2024, has seen disappointing sales, prompting the company to cut production and marketing efforts. IDC estimates only 45,000 units will be shipped in Q4 2025, making its revenue negligible for Apple. The company remains heavily reliant on iPhone sales, which accounted for over half of its revenue in fiscal 2025. Analysts express concerns about Apple's ability to innovate beyond the iPhone, as the Vision Pro's failure highlights its struggle to find a successor to its flagship product. With a high valuation, Apple stock may not be an attractive long-term investment.

Tesla's intraday increase exceeded 3%, with the Shanghai Gigafactory expected to contribute over half of its global delivery volume by 2025

Global news you need to know before Monday's U.S. stock market opens

U.S. pre-market oil stocks rose, London copper hit a new high, and gold and silver both increased amid turmoil in Venezuela. China's December services PMI was 52, maintaining expansion. Federal Reserve's Kashkari stated that the job market is cooling and interest rates are approaching neutral levels. Japan's 10-year government bond yield reached a new high since 1999. OPEC+ announced it will maintain stable oil production until the first quarter of 2026. Vietnam's GDP grew by 8.46% year-on-year in the fourth quarter. Goldman Sachs raised its target price for Taiwan Semiconductor, and Taiwan Semiconductor rose nearly 3% in U.S. pre-market trading. Hon Hai's Q4 sales exceeded expectations, growing by 22%. Samsung and SK Hynix plan to raise DRAM prices by 60%-70%

Federal Reserve's Kashkari: The job market is clearly cooling, and interest rates are approaching neutral levels

He also pointed out that the main risk facing inflation is its persistence—the impact of factors such as tariffs on prices may take years to fully transmit; in his view, the risk of the unemployment rate rising further from its current level cannot be ignored either

In the next two years, an average increase of 15% to 20%! Goldman Sachs shouts: Overweight Chinese stocks!

Goldman Sachs believes that the upward momentum of the Chinese stock market will mainly come from two aspects: first, benefiting from AI expansion and the "anti-involution" actions, corporate profits are expected to improve significantly, with profit growth rates projected to reach 14% and 12% in 2026 and 2027, respectively; second, the revaluation of the valuation system is expected to bring about a 10% increase in valuations, as Chinese stocks are currently still in a significantly undervalued state

2nm, Jensen Huang, and the Chinese robotics alliance going overseas, this is the story that will unfold at CES

From January 6 to 9, 2026, the Consumer Electronics Show (CES) will be held in Las Vegas, focusing on "AI Embodiment." This exhibition will showcase the transition of AI from the cloud to the physical world, covering technologies such as Intel's 2nm chips and Sony's True RGB. Intel will release its first consumer-grade processor based on 2nm technology, demonstrating a new era of AI computing power. This CES is not only a technology showcase but also a test of truly addressing pain points in daily life

Minneapolis Federal Reserve President Kashkari: I don't know if Powell will continue to serve after his term as chairman ends

Apple's "folding" saves the market, the rise of ASIC, and the trillion-dollar optical communication feast... Understand Goldman Sachs' top ten technology industry trend predictions for 2026 in one article

Goldman Sachs believes that the shipment volume of AI servers will experience explosive growth in 2026, with the penetration rate of ASIC chips expected to rise to 40%, driving a year-on-year surge of over two times in the shipment of 800G/1.6T optical modules. The upcoming foldable iPhone from Apple is expected to become a strong catalyst in the smartphone market. Meanwhile, AI-driven hardware upgrades, smart driving, satellite communication, and other fields will also welcome structural growth opportunities, reshaping the supply chain and investment landscape

AI boosts global stock markets, U.S. index futures rise collectively, gold and silver both increase amid turmoil in Venezuela, while crude oil unexpectedly declines

Boosted by optimistic sentiment towards artificial intelligence, U.S. stock index futures rose collectively, and Asian stock indices all increased, with the South Korea Composite Index closing up 3.43%, setting a new all-time high. Samsung Electronics surged 7%. The geopolitical situation in Venezuela has led to a rise in risk aversion, causing precious metals to rise across the board, with spot gold climbing above $4,400 and spot silver increasing nearly 4%. Crude oil fell due to record oversupply, with Brent crude oil dropping over 0.6%

Understanding the "14th Five-Year Plan": Chief Economist Xiong Yuan of GUOSHENG SECURITIES takes you to decode the underlying logic of macro policies, from the semantic logic of policies to the forward-looking trend inflection points

2026 will become an important turning point for the Chinese economy, marking the beginning of the 14th Five-Year Plan. With external frictions and the restructuring of global supply chains, the old logic of trade and growth has become ineffective. Historically, each Five-Year Plan has been accompanied by a reconstruction of wealth logic, and future policies will shift from "efficiency first" to "security first." Investors need to adapt to the new economic environment, as traditional GDP growth rates and interest rate cut strategies are no longer effective

Vietnam's GDP in the fourth quarter grew by 8.46% year-on-year, with rapid growth in the manufacturing sector

Despite facing tariff pressures from the United States, the Vietnamese economy has demonstrated strong resilience, with its GDP growth rate in the fourth quarter of 2025 significantly exceeding market expectations. The core drivers of growth stem from the rapid expansion of the manufacturing sector (quarterly growth exceeding 10%) and exports, confirming its position as a key beneficiary of the global supply chain shift. However, the rapid expansion of credit (annual growth of 17.9%) has raised liquidity risks, becoming a major concern for the future economy

How can Oracle reverse the market narrative? UBS: OpenAI faith restoration and debt pressure prove controllable

UBS believes that the market's reaction to the sharp decline in Oracle's stock price is excessive, based on two key expectations: first, the substantial financing of OpenAI and the release of GPT-6 will eliminate customer risks; second, Oracle can alleviate capital expenditure pressure through financial techniques such as "off-balance-sheet financing." The report points out that its data center construction is progressing as planned, and the current valuation is overly pessimistic, with room for recovery