---
title: "☕️ [Task Coins Giveaway] Daily Market Talk — Apple Reclaims Top Spot Before Earnings Tonight"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000964692.md"
description: "Chipmakers crashed on Friday, led by Intel's record drop, but a smaller fall lifted Apple past Nvidia as the world's most valuable company before its results tonight. At home, the STI is sliding this ..."
datetime: "2026-11-02T02:42:19.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000964692.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000964692.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000964692.md)
author: "[Captain's Watch](https://longbridge.com/en/profiles/24747427.md)"
generator: "portal-rs"
---

# ☕️ [Task Coins Giveaway] Daily Market Talk — Apple Reclaims Top Spot Before Earnings Tonight

Chipmakers crashed on Friday, led by Intel's record drop, but a smaller fall lifted Apple past Nvidia as the world's most valuable company before its results tonight. At home, the STI is sliding this morning as the banks lead losses. Let's dig in 👇

**💬 Apple is winning by spending less on AI. Buy before its results, or wait for the chipmakers to report?**

## 📊 Quick Recap — What Moved & Why

### 🇺🇸 US — Apple Back on Top

**🔑 Key Event:** $Apple(AAPL.US) closed **-1.23%** but overtook $NVIDIA(NVDA.US), down **-4.22%**, as the world's most valuable company at about $5 trillion. **It reports tonight, at 5am Tuesday SGT, having spent far less on AI.**

**👀 Other to Watch**

-   $Dow Jones Industrial Average(.DJI.US) **-1.09%**, $S&P 500(.SPX.US) **-1.82%**, $NASDAQ Composite Index(.IXIC.US) **-2.86%**, ending its worst month in a year.
-   **Chips** → $Intel(INTC.US) **-28.58%**, its worst day on record, and $AMD(AMD.US) **-10.88%** as chips lost about $1 trillion.
-   **Crypto** → $Coinbase(COIN.US) **-10.62%** and $Strategy(MSTR.US) **-7.84%** after a record $6.3 billion hack at Binance.
-   **Midterms** → Americans vote on Tuesday, with Democrats widely favoured to retake the House; AI regulation and data-centre policy are at stake.
-   $Eli Lilly(LLY.US) → **+3.19%** to a second straight record close, defying the selloff.

> @NewUser\_oPJWOU : I'm looking forward to Apple and Palantir earnings, hoping for positive news after major tech misses.

> @WH the rooster : I continue to hold Intel and buy in tranches, believing in its long-term turnaround.

> @dhighstakes : Be patient while hyperscalers complete their capex cycle. The future is chips.

### 🇸🇬 Singapore — The Haven Cracks

**🔑 Key Event:** The $FTSE Straits Times Index(STI.SG) is down about **-1.3%** near 5,305 this morning after Friday's **-0.36%** close at 5,376.74, $OCBC Bank(O39.SG) **fell as much as 3.9% after its insurer Great Eastern's profit dropped 72%.**

**👀 Other to Watch**

-   **Banks** → $DBS(D05.SG) reports third-quarter results on 5 Nov, with $UOB(U11.SG) and OCBC following on 6 Nov.
-   **Chips** → $AEM SGD(AWX.SG) **-8.59%** and $UMS(558.SG) **-7.80%** on Friday as the US chip rout spread.
-   $Grab(GRAB.US) → **-1.81%** on Friday as tech slid; it reports alongside Apple tonight.
-   **Plantations** → $Wilmar(F34.SG) **-3.22%** on Friday as haze scrutiny grew, then admitted ties to six NEA-named firms.

> @PSChua : The AI story is intact, so it's time to deploy some dry powder into Singapore chip stocks.

### 🇭🇰 HK/China — Asia's Lone Gainer

**🔑 Key Event:** The $Hang Seng Index(00HSI.HK) is up about **+0.2%** near 23,350 this morning, Asia's only gainer, after Friday's **+1.46%** close at 23,294.42. $BABA-W(09988.HK) **is up about 1%, with Qwen joining Apple Intelligence in China.**

### 🌎 Other to Watch

-   **🛢️ Oil** → Brent eased this morning as Iran talks continue, after hitting a six-month high on Friday on Hormuz attacks.
-   **🪙 Gold** → broke below $4,000 to a one-year low, falling even as oil rose, an unusual split between havens.

> @Fattycat : Gold broke the US$4,000 support, triggering stop-loss selling down to US$3,875.

## 📅 Upcoming Key Events

| When (SGT) | What |
| ---------- | ---- |

👇 Drop your take (20+ words) & click "Repost" to earn 288 Task Coins ✨  
🚫 No duplicates · ⏰ Deadline: Nov 2, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏

### Related Stocks

- [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md)
- [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md)
- [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md)
- [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md)
- [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md)
- [INTC.US](https://longbridge.com/en/quote/INTC.US.md)
- [AMD.US](https://longbridge.com/en/quote/AMD.US.md)
- [COIN.US](https://longbridge.com/en/quote/COIN.US.md)
- [MSTR.US](https://longbridge.com/en/quote/MSTR.US.md)
- [LLY.US](https://longbridge.com/en/quote/LLY.US.md)

## Comments (48)

- **NMKoh · 2026-11-02T16:15:11.000Z**: earnings will decide the outcome.
- **PSChua · 2026-11-02T15:43:16.000Z**: The elephant in the room is the US mid-term elections on 3 Nov. As the Red party is still reeling from inflation-related voter disgruntlement and other personality-related issues, the Blue party might wrestle one or both chambers from the Red. How would that impact the US market?
- **NewUser_oPJWOU · 2026-11-02T15:19:56.000Z**: SG banks fell by as much as 2% to 3% today as lower expected wealth management fees could lower banks' profits in the upcoming months. However, I personally think the drop is an overreaction
- **NewUser_zS0M8w  · 2026-11-02T15:08:49.000Z**: Most chips companies are slightly up today but I think the short term volatility and selling pressure still lingers. Let's see how the market reacts after more earnings and Midterms
- **dingdongbell · 2026-11-02T14:57:02.000Z**: The week is packed with important events such as the midterm elections and more earnings results. It’s time to get past Intel which IMO has joined Nokia in the ‘has beens’ category.
- **Heroic Lifesaver · 2026-11-02T14:55:03.000Z**: The midterm elections will be something the market will want to get out of the way. Seasonally, it has been good for the markets.
- **Vt3 · 2026-11-02T12:35:31.000Z**: 🇺🇸📌 I think later will be little bull after last Friday bear calling me buyer’s market; but don’t be too happy cos tomorrow will again be falling down liked I said that London bridge is falling down till let sat mid term election; to gauge to see its stability if not mean worst cos heavy debt issues
- **Wisely9 · 2026-11-02T12:19:16.000Z**: Aapl is a defensive stock and in a risk off environment, money rotates to defensive stocks. If amd announce good earnings in next 2 days and once the us mid term ends also by this week, I think the stock rally should come when everyone goes risk on again.
- **koolgal · 2026-11-02T11:09:48.000Z**: US Midterm Elections🌟🌟🌟On Tuesday 3 November 2026, American voters will decide all 435 seats in the House of Representatives and 35 Senate seats.  The big question is whether Democrats can wrest congressional control away from President Donald Trump's Republican party.Gridlock vs Sweep:  Markets
- **The · 2026-11-02T10:27:45.000Z**: Eli Lilly rises out of many US stocks.Local Straits Times Index and other Singapore stocks show negative. Hong Kong stocks increase for Hang Seng Index and Baba-W companies. Oil price eases this morning and gold is below its usual price.Suddenly feel sad for US stocks and wish them to improve. But s
- **NewUser_CkrdqW  · 2026-11-02T09:10:48.000Z**: Midterms probably the next closest watch for AI and semiconductor stocks. Tough drop to close out Friday, can they turn this around quickly? Or will the drop sustain?
- **WH the rooster · 2026-11-02T09:08:36.000Z · 👍 1**: Yes Tech segment there was a slight pullback last week, but I remain strongly bullish through year end with a positive outlook. I’m particularly looking forward to Apple’s upcoming earnings report for further momentum. $Apple(AAPL.US) ☺️
- **JPJP · 2026-11-02T07:55:24.000Z**: This week, US market performance may face some volatility and uncertainty due to the upcoming US midterm elections on Tuesday and the unpredictable outcome of the Iran conflict. With the Fear & Greed Index hovering near "extreme fear," a market rebound could be on the horizon, particular
  - **Captain Leo** (2026-11-02T12:20:42.000Z): Lining up the midterms, Iran and a Fear & Greed reading near extreme fear in one place makes the week easy to scan😊
- **Ally · 2026-11-02T07:41:55.000Z**: Looking forward to Apple and Palantirs results tonight. Also surprised to see the chip stocks share price that drastically.
- **melph · 2026-11-02T07:27:50.000Z**: $AMD(AMD.US) fell nearly 11% on Friday after Intel's weak PC outlook hit chip stocks, just days after a Meta partnership lifted it. I think the selloff is more about PC demand than AI so Tuesday's earnings matter especially data center growth. That should be the number to watch?
  - **Captain Leo** (2026-11-02T11:19:23.000Z): The way you separate a PC-side scare from the bigger growth story, then pick one figure to judge Tuesday by, is a structure most people could reuse before any big print👍
- **Valenxis · 2026-11-02T07:14:40.000Z**: SG banks falling prior to earning reports release. The sort of defensive stock Sheng Siong also fell quite a bit. STI dropping daily. on US side, volatile week ahead cos 3nov US Mid term election and ER from major chip firms. Shall see where this is going forward. Buy the dip? if market always go hi
- **swq-HengOngHuat · 2026-11-02T06:44:42.000Z**: Apple reclaiming the $5T spot while spending less on AI is the story here. Market is rewarding efficiency over brute-force capex. I'll wait for tonight's guidance before buying — if iPhone + Services hold, the chip selloff might be overdone.
- **CoinYeye · 2026-11-02T06:18:31.000Z**: Great insights! 📈 The market always presents opportunities for those who stay disciplined, patient, and focused on the fundamentals. Smart analysis and proper risk management are key to long-term success. Keep sharing valuable perspectives! 🚀
- **NewUser_ThinkSwim · 2026-11-02T05:39:41.000Z**: See how the overnight market reacted most likely the market will be trading in range and choppy for the week. Slowly DCA into stocks you like to own for the long term 5 to 10 years.
- **relf · 2026-11-02T05:39:11.000Z**: Huge volatilty in the markets. A great test of conviction in the stock one owns. Lots of look forward to for earnings this week.


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**