Semiconductors

Micron Tech

Today’s Key News Recap

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1204 | Dolphin Research Focus: 🐬 Macro/Industry 1. The Beijing Consumer Association, in collaboration with eight major e-commerce platforms including JD.com, Meituan, Pinduoduo, Vipshop, Douyin, Kuaishou, Xiaohongshu, and WeChat Live, signed the nation's first 'Commitment to Promote the Standardized Application of AI Technology.' Addressing issues such as AI digital human live streaming and virtual scene marketing, the core measures include 'transparent labeling, strict review, and traceable responsibility.' It clearly stipulates that AI-generated content must be prominently marked, and there will be a crackdown on fake labels among six major initiatives. The Beijing Consumer Association will track the implementation through volunteer experiences...

NVIDIA

LI AUTO-W

Vipshops

JD-SW

MEITUAN

Salesforce

ByteDance

KUAISHOU-W

Li Auto

JD.com

JD-SWR

Meituan

MEITUAN-WR

KUAISHOU-WR

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

JD HK SDR 10to1

Meituan HK SDR 5to1

Li Auto releases AI glasses Livis; Micron exits retail storage business to focus on AI | Today's Important News Recap

DELL

Conference Minutes

MSFT

MSFL

MSFO

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COMP

The following are the minutes of Dell's FY2026 Q3 earnings call organized by Dolphin Research. For earnings interpretation, please refer to &#34;Dell DELL: Storage Price Hike Adds Pressure? AI Guidance Provides Support Again.&#34; 1. $Dell Tech(DELL.US) Key Financial Information Review 1. Cash Flow and Capital Return a. Cash Flow: Operating cash flow of $1.2 billion, with an ending cash and investment balance of $11.3 billion (an increase of $1.6 billion quarter-over-quarter). b. Shareholder Return: $1.6 billion returned this quarter (repurchase of 8.9 million shares + dividend distribution)...

Dell Tech

Microsoft

C3.AI

GraniteShares 2x Long MSFT Daily ETF

YieldMax MSFT Option Income Strategy ETF

Direxion Daily MSFT Bear 1x Shares

Direxion Daily MSFT Bull 2X Shares

T-Rex 2X Long Microsoft Daily Target ETF

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Compass

Dell (Minutes): The company's value lies in the overall solutions at level L11 and above.

应用材料AMAT

AMAT

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The following are the minutes of the AMAT FY2025 Q4 earnings call organized by Dolphin Research. For an interpretation of the earnings report, please refer to the article titled 'Storage is 'Red Hot', Can Applied Materials (AMAT) Benefit?' 1. $Applied Materials(AMAT.US) Key Financial Data Review Revenue: FY2025 revenue grew by 4% to $28.4 billion; Q4 revenue exceeded the midpoint of expectations. Revenue by business segment: Semiconductor Systems revenue grew by 4%. Applied Global Services (AGS) revenue grew by 3% to $6.4 billion...

Applied Materials

PlayAGS

Direxion Semicon Bear 3X

Direxion Semicon Bull 3X

iShares Semiconductor ETF

Semiconductor

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

Westrock Coffee

NextDecade

Ameriprise Financial

Applied Materials AMAT (Minutes): Stable in the first half of next year, growth concentrated in the second half.

Financial Analysis

SSNGY

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04335

Applied Materials (AMAT.O) released its financial report for the fourth quarter of fiscal year 2025 (ending October 2025) after the U.S. stock market closed on the morning of November 14, 2025, Beijing time. The key points are as follows: 1. Core Data: Applied Materials AMAT's revenue for this quarter was $6.8 billion, a year-on-year decrease of 3.5%, slightly better than market expectations ($6.68 billion). This was mainly due to the decline in the semiconductor equipment business, especially the increased proportion of restricted demand for logic-related products in regions such as China. $Applied Materials(AMAT.US) had a gross margin of 48% this quarter, an increase of 0.7 percentage points year-on-year...

Samsung Electronics 

Taiwan Semiconductor

Intel

INTEL-T

Storage is 'red-hot', can Applied Materials (AMAT) still 'benefit'?

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1017 | Dolphin Research Focus: 🐬 Macro/Industry 1. Shares of two U.S. regional banks plummeted due to loan fraud and bad debt issues, with the regional bank index posting its worst performance since April. Risk aversion sentiment pushed up U.S. Treasury and gold prices. The event highlights potential risks in the credit market, and concerns about 'more risk points' will suppress sentiment in financial stocks, while reinforcing expectations for the Federal Reserve to maintain an accommodative stance. 🐬 Individual Stocks 1. $Micron Tech(MU.US) Micron Technology's U.S. stock fell in after-hours trading. According to reports, Micron will stop selling server chips to Chinese data centers...

Morgan Stanley

CHINA MOBILE

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CTG DUTY-FREE

Charles Schwab

Pro Ultr Silver

iShares Silver Tr

Meta Platforms

Financial Select Sector SPDR Fund

LENOVO GROUP

China Mobile

CHINA MOBILE-R

LENOVO GROUP-R

Lenovo Group

CATL HK SDR 30to1

SCHWAB(CHARLES)CORP 5.95% DEP SHS REP 1/40 NON CUM PERP PF D

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

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SCHWAB(CHARLES)CORP 4.450% DEP SHS REP 1/40TH N-CUM PFD SERJ

Micron to Stop Selling Server Chips to Chinese Data Centers; Meta Plans to Raise $30 Billion to Build Data Centers | Today's Important News Recap

ASML

HIGH

BASE

BUFF

The following are the Minutes of ASML's Q3 2025 earnings call. For an interpretation of the financial report, please refer to &#34;ASML: AI Capex Adds Buff, The Worst Period is Over!&#34; 1. $ASML(ASML.US) Review of Core Financial Information 1. Shareholder Returns Dividends: The first interim dividend for 2025 has been paid, at EUR 1.60 per share. The second interim dividend, also EUR 1.60 per share, will be paid (Payment Date: November 6, 2025). Stock Repurchase: Approximately EUR 148 million worth of shares were repurchased in the third quarter...

iShares Exponential Tech

Simplify Enhanced Income ETF

Lowes

Couchbase

Innovator Laddered Allocation Power Buffer ETF

ASML (Minutes): Maintain 2030 target, next year's expectations will be updated in the next quarter

AAPL

QCOM

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ASML released its Q3 2025 financial report (up to September 2025) before the U.S. stock market opened on the afternoon of October 15, 2025, Beijing time. The key points are as follows: 1. Revenue &amp; Gross Margin: a) $ASML(ASML.US) reported a revenue of 7.5 billion euros this quarter, a year-on-year increase of 0.7%, compared to the market expectation of 7.7 billion euros. The company's revenue this quarter mainly came from contributions by TSMC and customers in mainland China. b) The gross margin for this quarter was 51.6%, close to the upper end of the company's guidance range (50-52%), mainly due to an increase in the proportion of service-related revenue...

Apple

Qualcomm

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ASML: AI Capex adds a buff, the worst period is over!

Micron

The following is the earnings call minutes for Micron MU's Q4 FY2025, organized by Dolphin Research. For earnings interpretation, please refer to the article &#34;Micron: AI Capex Frenzy Continues, Is the Memory Super Cycle Finally Here?&#34;. I. $Micron Tech(MU.US) Key Financial Information Review 1. Q1 Guidance non-GAAP: a. Revenue: Expected to be a record $12.5 billion (±$300 million). b. Gross Margin: Expected to be 51.5% (±100 basis points). c. Operating Expenses: Expected to be approximately $1.34 billion (±$20 million)...

Micron (Minutes): Broad Guidance Lifts, Is AI Finally Boosting Traditional Semiconductors?

Micron (MU.O) released its financial report for the fourth quarter of fiscal year 2025 (ending August 2025) after the U.S. stock market closed on September 24, 2025, Beijing time. Key points are as follows: 1. Overall performance: Micron's revenue for this quarter was $11.3 billion, a quarter-on-quarter increase of 22%, in line with market expectations ($11.2 billion). The revenue growth this quarter was mainly driven by the growth of the DRAM business. $Micron Tech(MU.US) achieved a gross margin of 44.7% this quarter, better than the sell-side expectations (42.4%) and also reached the revised buy-side expectations (44%)...

Micron: AI Capex spending spree continues, is the memory supercycle finally about to start?

Micron 4Q FY25 Quick Interpretation: The company's revenue and gross margin for this quarter met market expectations, primarily driven by growth in the DRAM business.The company's operating expenses remained relatively stable, with profit release mainly driven by revenue growth and gross margin improvement.The company's specific business is divided into three parts:① HBM business revenue for this quarter was nearly $2 billion, an increase of approximately $500 million quarter-on-quarter, mainly benefiting from the increased mass production of NVIDIA's GB series;② Traditional DRAM business revenue for this quarter reached $6.9 billion, showing significant year-on-year and quarter-on-quarter growth, driven by both volume and price increases;③ NAND business revenue for this quarter was $2.25 billion, although shipment volume declined quarter-on-quarter, prices have started to rebound.Based on the company's guidance, Micron expects next quarter's revenue to be $12.5 billion (±$300 million), a quarter-on-quarter increase of $1.2 billion; gross margin is expected to reach 50.5% (±1%).Both guidance figures are significantly better than market expectations, indicating that the company's storage products will continue to improve. As storage product prices rise, capacity utilization and gross margin will see significant improvements.Driven by the substantial increase in capital expenditure by major cloud service providers, the supply and demand market for storage products has undergone significant changes, especially extending from the HBM field to traditional DRAM and NAND fields. As long as downstream AI Capex maintains high growth, Micron will continue to benefit from the current upward cycle in the storage industry.For more detailed information, please follow Dolphin Research's subsequent specific commentary and management communication minutes. $Micron Tech(MU.US)

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TrendForce:变动 in International DRAM Spot Prices

Amazon Unveils AI Chip to Challenge Nvidia and Google

Mizuho Raises Micron Technology Target Price

Trump Administration Shifts Focus to Robotics

Goldman Sachs Analyst Raises Micron Target Price to $205

Micron Announces Exit from Consumer Business

International DRAM Spot Prices Fluctuate

NAND Flash Market Grows Strongly Due to AI Demand, Major Suppliers See Revenue Growth

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SEMI Reports Growth in Global Semiconductor Equipment Market

River Road Asset Management LLC Increases Holdings in Micron Technology

Micron to Start DRAM Plant Expansion in Hiroshima, Japan in 2026

Micron to Invest $9.7 Billion in Japan for AI Memory Chip Facility