--- title: "MRVL in talks to buy LITE; AAPL's first touchscreen Mac debuts | Daily News Recap" type: "Topics" locale: "en" url: "https://longbridge.com/en/dolphin/post/44621978.md" description: "Oct 29 | Dolphin Research Focus: Macro/Industry. The Fed kept the policy rate at 3.75%-4% in Oct. Chair Walsh said the number of policy meetings will be cut starting in 2027 and stressed that AI investment remains constrained by rates.Futures have priced in one hike in Dec and another in Mar. The 10Y UST yield rose to 5.03%. AI capex keeps climbing.Rising funding costs continue to compress tech valuations. The higher-for-longer rate backdrop has not eased. Tech will continue to face liquidity pressure..." datetime: "2026-10-29T08:48:06.000Z" locales: - [en](https://longbridge.com/en/dolphin/post/44621978.md) - [zh-CN](https://longbridge.com/zh-CN/dolphin/post/44621978.md) - [zh-HK](https://longbridge.com/zh-HK/dolphin/post/44621978.md) author: "[Dolphin Research](https://longbridge.com/en/dolphin.md)" generator: "portal-rs" --- # MRVL in talks to buy LITE; AAPL's first touchscreen Mac debuts | Daily News Recap ## 1029 | **Dolphin's Key Watchlist** ## 🐬 Macro/Industry **1.** The Fed kept rates at 3.75%-4% in Oct, and Chair Walsh said the number of FOMC meetings will be cut starting 2027 while stressing that AI capex is also constrained by rates. Futures now price one hike in Dec and another in Mar, and the 10Y UST yield rose to 5.03%. AI capex remains on a steep uptrend, while higher funding costs keep a lid on tech valuations. With 'higher for longer' intact, the tech sector continues to face liquidity pressure. **2.** Global bond issuance hit a record $6.61tn YTD, with AI/data center issuance at ~$368bn (about 6x last year). The new Bond King warned that AI credit risks resemble the eve of subprime, Bessent stepped in to calm nerves, and Pimco halved positions in META and ORCL. AI debt has shifted from a 'narrative risk' to a 'pricing risk'. Rising rates magnify refinancing fragility, so watch for valuation resets among highly levered compute vendors. ## 🐬 Single Stocks **1.** $Marvell Tech(MRVL.US) Media report Marvell Technology is in advanced talks to acquire Lumentum (LITE), with a deal possibly announced as soon as next week. A customer buying a supplier would secure critical optoelectronic interconnects for AI data centers and deepen vertical integration. With optical comms as a bottleneck in compute, supply-chain M&A could become a new theme. MRVL fell nearly 10% pre-mkt today, while Lumentum rose over 4%. **2.** $NVIDIA(NVDA.US) The DOJ launched an antitrust inquiry into NVDA's proposed $12.9bn acquisition of Hugging Face, covering M&A, sales strategy, and customer pressure, with work spanning two administrations. Regulators aim to prevent NVDA from controlling AI model distribution gateways. Approval uncertainty has risen sharply, and vertical ecosystem expansion could be constrained. Near term, this caps valuation elasticity. **3.** $Oracle(ORCL.US) At Investor Day, Oracle laid out a clear path to turning FCF positive: turning positive in H2 2028 and exceeding $30bn in FY2029, while capping AI financing at $20bn. The stock jumped over 10% in a day. Previously, the AI cloud cash-burn narrative weighed on sentiment, but a verifiable cash flow timeline materially improved it. Oracle is repositioning from 'under scrutiny' to an AI infra cash flow benchmark, marking a clear near-term sentiment inflection. **4.** $Coreweave(CRWV.US) Shares fell sharply earlier on AI financing concerns. They rebounded as Anthropic filed for an IPO and ORCL rallied, with an intraday pop of about 5%. CoreWeave is a highly levered compute lessor, and the stock is tightly linked to AI debt expectations. This looks like an oversold bounce, and durability depends on follow-on financing and customer performance. **5.** $Apple(AAPL.US) Apple unveiled its first touchscreen MacBook Pro (M5 Pro/Max + OLED + Dynamic Island), breaking nearly 20 years of product philosophy. Korea fined Google and Apple KRW 63.7bn and ordered them to open up payment 'walled gardens', and the China-market AI version has yet to roll out. Hardware strategy is making a major pivot, but regulatory penalties and softer-than-expected AI rollout add short-term noise. Whether this triggers a fresh replacement cycle will hinge on downstream sales data. **6\. Dolphin Research on earnings and calls** Google: '[Google: The 'money printer' ghost story returns — can selling shovels prop it up?](https://longbridge.cn/zh-CN/dolphin/post/44612483?channel=OWNN00030)', '[Google (Trans): AI mode drags search monetization; TPU external sales to scale next year](https://longbridge.cn/zh-CN/dolphin/post/44608789?channel=OWNN00030)' Microsoft: '[Microsoft: Heavy capex, high growth, and cash flow — is the lone cloud giant with 'discipline' worth a premium?](https://longbridge.cn/zh-CN/dolphin/post/44615103?channel=OWNN00030)', '[Microsoft (Trans): Azure guide implies up to 50%, demand still outstrips supply](https://longbridge.cn/zh-CN/dolphin/post/44608651?channel=OWNN00030)' ## 🐬 Top Gainers by Sector **A-Share:** Diversified financials, multi-line insurers, integrated oil & gas. **HK:** Stadiums and other leisure facilities, furniture/home/DIY retailers, insurance brokers. **US:** Seaport operators, electrical components & equipment, electronic components. ## 🐬 Watchlist for Tomorrow 1) SanDisk, Intel, Amazon, Coinbase, Reddit, Starbucks to report earnings. Risk disclosure and statement: [Dolphin Research disclaimer and general disclosures](https://support.longbridge.global/topics/misc/dolphin-disclaimer) ### Related Stocks - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [MRVL.US](https://longbridge.com/en/quote/MRVL.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [GOOGN.US](https://longbridge.com/en/quote/GOOGN.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [002245.CN](https://longbridge.com/en/quote/002245.CN.md) - [LITE.US](https://longbridge.com/en/quote/LITE.US.md) ## Comments (5) - **MaxSureWin · 2026-10-30T23:57:29.000Z**: so sad. sheng siong drop so much - ** 八方来财！ · 2026-10-30T21:25:22.000Z**: thanks - **JSY · 2026-10-29T20:38:25.000Z**: good - **Moomoocow73 · 2026-10-29T19:12:10.000Z**: Ok - **AaAv · 2026-10-29T09:29:55.000Z**: ok --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**