以下文章来源于金十财经 ，作者金十小金 金十财经 . 每日8点，为您呈上金融投资行业的国际动态、财经数据和市场观察。 来源 | 金十财经 在当天另一篇社交媒体帖文中，特朗普表示，鲍威尔及其在美联储理事会的同僚们 "应该为让美 国陷入这种境地感到羞耻"。"如果他们尽职尽责，我国本可节省数万亿美元利息支出，" 特朗普 写道， "但理事会只会坐视不管，他们同样难辞其咎。" 特朗普称："我们的利率应该只有1%，甚至更好！" 特 朗 普 扩 大 施 压 范 围 ： 利 率 应 降 至 1 % 鲍 威 尔 及 其 委 员 会 都 难 辞 其 咎 这是特朗普数月来对鲍威尔系列攻击的最新动作。他不仅多次直接羞辱这位美联储主席，甚至威 胁要撤销其职务。上周五，特朗普还敦促鲍威尔在明年五月任期结束前主动辞职。不过根据规 定，鲍威尔若愿意，可继续担任理事至2028年。 周一，美国总统特朗普通过手写便条向美联储施压，要求其降息。 他指责美联储主席鲍威尔让美 国损失了"巨额财富"，并强硬要求"大幅"降息。 尽管去年已降息1个百分点，面对特朗普关税等政策的经济影响不确定性，美联储近期坚持"观 望"策略。这位总统最不满的是，当其他国家持续 ...

作 者丨Bay Area Ideas 编译 | 华尔街大事件 英伟达公司 ( NASDAQ: NVDA )股价自4月初的低点以来，出现了令人瞩目的反弹。在4月7日触 及86.62美元的低点后，该股已飙升约80%，创下历史新高。 尽管增长略有放缓，但英伟达的基本面依然强劲。由于增长基数持续增长，增长放缓并不意外。 目前的市销率略低于历史平均水平，这表明其估值被低估，因为 Sovereign AI 在未来几年内很 有可能重新加速增长。 英伟达公布的 2026 财年第一季度 总收入为 440.62 亿美元，同比增长 69%。收入继续创下历史 新高。收入增长继续有所降温，与上一季度相比略有放缓。尽管如此，近 70% 的增长率也无可 厚非。 英伟达 的表现继续超出 预期 ，超出预期 8.1347 亿美元。他们的调整后毛利率环比下降 12.5 个百分点，同比下降 17.9 个百分点，至 61%。虽然这可能令人吃惊，但请注意，他们将此 归因于美国新的出口管制导致的 45 亿美元 H20 费用，因此在这种背景下，下降幅度并不太大。 在每股收益（EPS）方面，英伟达公布的调整后数据为0.81美元，同比增长33%。这一表现超出 ...

整理 | 美股研究社 在这个快速变化的时代，人工智能技术正以前所未有的速度发展，带来了广泛的机会 。 《AI日 报 》致力于挖掘和分析最新的AI概念股公司和市场趋势，为您提供深度的行 业 洞察和价 值 分 析。 A I 快 报 值得一提的是，越来越多公司正在开发推理芯片以减少对英伟达的依赖并长期降低成本。亚马逊 和微软，以及OpenAI和Meta等大型AI推理芯片都已启动自主研发推理芯片的计划，见闻此前文 章提及，微软造芯计划受挫，Maia 100目前仅用于内部测试，Braga的AI 芯片面临至少六个月 的延迟，且预计其性能将远低于英伟达Blackwell芯片。 5.马斯克在自家社交媒体平台表示，特斯拉Model Y首次实现全自动驾驶，从工厂到客户家中， 包括高速公路，比计划提前一天完成！祝贺@Tesla_AI软件和 AI 芯片设计团队！ 随后，他补充称，"这是首次在公共高速公路上进行的完全自动驾驶，车内无人，也没有远程操 控汽车的情况。"特斯拉人工智能副总裁阿肖克・埃卢斯瓦米（Ashok Elluswamy）在评论区回 应称："是的！最高速度是 72 英里/小时。"马斯克回复："飞速！" 6.扎克伯格旗下M ...

Core Viewpoint - The ultra-luxury car market in China is experiencing a significant downturn, with a 53% year-on-year drop in sales of vehicles priced over one million yuan in Q1 2025, indicating a faster contraction than the overall industry [1] Group 1: Market Performance - In Q1 2025, sales of million-level luxury cars fell to 21,000 units, a stark contrast to the stable annual sales of around 200,000 units from 2021 to 2023 [1][2] - Lotus Technology reported a 46% decline in revenue year-on-year, but also showed signs of recovery with a 56% reduction in operating losses and an increase in gross margin from 3% in 2024 to 12% in Q1 2025 [2][4] Group 2: Financial Metrics - Lotus's operating loss decreased from $233 million in the previous year to $103 million, while adjusted EBITDA improved from -$200 million to -$136 million, reflecting a 33% reduction [4] - The gross margin increased from 7% to 12% in Q1 2025, indicating a strong recovery despite still being lower than the previous year [5][6] Group 3: Market Strategy - Lotus is focusing on cost control and efficiency improvements, with a continuous decline in operating expenses over six quarters [4] - The company is also diversifying its market presence, achieving a balanced distribution of sales across Europe, China, and North America, each accounting for 32% of total sales [8] Group 4: Future Outlook - The ultra-luxury car market in China is expected to have a long-term demand ceiling, despite current challenges, as the economic level continues to rise [11] - Lotus aims to leverage its historical brand value and technological advancements to differentiate itself in a competitive market, focusing on electric and hybrid models [13][14]

Core Viewpoint - The article highlights a significant surge in market optimism, driven by a broad-based buying spree across various asset classes, despite underlying economic uncertainties and risks [1][4][20]. Group 1: Market Performance - The S&P 500 index reached a historical high for the first time since February, reflecting a strong recovery in investor sentiment [2][9]. - The index surged by 3.4% in the week, with major tech stocks (referred to as Mag7) leading the price movements [9]. - Junk bonds have risen for the fifth consecutive week, while the 10-year U.S. Treasury yield decreased by approximately 10 basis points [12]. Group 2: Economic Indicators - Despite rising unemployment claims and a sluggish real estate market, bullish investors are focusing on signs of cooling inflation and improving consumer confidence [4][21]. - June consumer confidence in the U.S. reached a four-month high, although other economic data painted a less optimistic picture, including a significant drop in new home sales and consumer spending [21][23]. Group 3: Investor Sentiment - There is a notable return of retail investors and an increase in risk exposure among systematic investors, indicating a shift towards riskier assets [8]. - Market participants appear to be pricing in optimistic outcomes despite ongoing geopolitical tensions and economic slowdowns [6][18]. Group 4: Cautionary Signals - Some market analysts express concerns about the sustainability of the current rally, citing potential risks if profit margins or employment data worsen [25][27]. - The options market is pricing in significant downside risks for popular funds, suggesting a cautious outlook among investors despite the recent market gains [27]. Group 5: Valuation Concerns - Some investment strategists, like Brent Schutte, are wary of the high valuations in the S&P 500 and prefer cheaper small and mid-cap stocks, indicating a potential shift in investment strategy [28].

Core Viewpoint - The recent surge in the Nasdaq China Golden Dragon Index, driven by the inclusion of Pony.ai, highlights a renewed global capital interest in China's hard technology, particularly in the autonomous driving sector [1][3]. Group 1: Company Performance and Market Position - Pony.ai's stock price soared by 16.73% after being added to the Nasdaq China Golden Dragon Index, marking the fastest record for a Chinese company from IPO to index inclusion in just 7 months [1][3]. - The company has accumulated over 45 million kilometers in autonomous driving testing, with over 8 million kilometers in fully driverless testing [3][4]. - Pony.ai's seventh-generation autonomous driving system has reduced hardware costs by 70%, with the cost of a single Robotaxi now under $30,000, approaching the breakeven point for traditional ride-hailing services [4][5]. Group 2: Competitive Advantages - Pony.ai's unique advantages include full-stack self-research capabilities, a closed-loop data processing toolchain, and significant cost reductions in hardware components [3][4]. - The company has achieved a user repurchase rate of 73% for its Robotaxi services in Sydney, significantly outperforming competitors like Waymo [8]. Group 3: Strategic Partnerships and Expansion - Pony.ai is collaborating with major automotive manufacturers like Toyota and BAIC to develop its seventh-generation Robotaxi, set to launch in major Chinese cities in 2025 [7][8]. - The company is also expanding internationally, with plans to operate Robotaxi fleets in Dubai and Australia, leveraging favorable policies and capital support in the Middle East [11][12][13]. Group 4: Market Trends and Future Outlook - The global Robotaxi market is projected to grow at a compound annual growth rate of 64.1% from 2025 to 2032, with the Middle East leading the growth at 83% [12]. - The combination of technology validation, capital leverage, and market replication is driving a global expansion strategy for Chinese autonomous driving companies [9][14].

Core Viewpoint - Google is entering a new phase of sustainable high-profit growth by migrating AI computing power from remote data centers to its own edge devices, leveraging its dominance in search, digital advertising, and cloud services [1][2]. Group 1: AI and Technology Integration - The integration of Gemini AI technology into a vertically integrated ecosystem, including custom Tensor Processing Units (TPUs), software environments, and autonomous devices, is transforming every machine into a revenue-generating channel [1]. - The Gemini Robotics SDK allows developers to test and deploy locally, breaking the previous cycle of dependency on costly public cloud services, thus democratizing access to AI technology [2]. - The shift of intelligence from remote servers to edge devices enables low-latency, high-profit revenue nodes, with Gemini Robotics On-Device capable of operating offline with near-cloud performance [1][2]. Group 2: Financial Performance - Google Cloud revenue grew by 28% to $12.3 billion, with operating profit reaching $4.6 billion, nearly double from the previous year, largely due to high-margin AI workloads [5]. - Capital expenditures increased to $17.2 billion in the same period, expected to reach $75 billion for the year, while net income rose by 46% to $34.5 billion, indicating a strong commitment to AI investments [5]. - The services segment, including YouTube and Google One, contributed $77.3 billion, growing by 10%, with YouTube Premium and Google One increasing by 19%, providing a buffer for the company's ambitious plans [5]. Group 3: Market Position and Competitive Landscape - Google is leveraging its TPU technology, which has shown significant performance improvements, to gain an edge over competitors who are increasingly reliant on Google's technology [4]. - The company is expected to maintain a competitive advantage as it integrates AI into various sectors, including defense and healthcare, while managing regulatory scrutiny [7][10]. - Despite the challenges, Google's robust balance sheet and ongoing investments in AI and robotics are expected to create a high-margin, defensive growth model that the market has yet to fully appreciate [18]. Group 4: User Engagement and Adoption - Gemini's usage metrics show 35 million daily active users, which is modest compared to competitors like ChatGPT, highlighting the need for a growing developer community to enhance the platform's appeal [11]. - The integration of Gemini into consumer touchpoints is expected to enhance model performance through user feedback, creating a symbiotic relationship that fuels further development [6]. Group 5: Valuation and Future Outlook - The stock's price-to-earnings ratio is currently at 20.21, with an intrinsic value model suggesting a price closer to $132, indicating a potential downside of about 25% from the current price of $178 [13][15]. - Analysts expect earnings growth to drive a decline in the P/E ratio from 22.17 in 2024 to 13.16 by 2028, reflecting strong profit engines but also a potential slowdown in growth [15]. - Despite mixed signals in cash flow growth, the company's strong balance sheet and ongoing investments in AI and robotics position it well for future cash flow generation [18].

以下文章来源于金十财经 ，作者金十小金 金十财经 . 每日8点，为您呈上金融投资行业的国际动态、财经数据和市场观察。 来源 | 金十财经 由于投资者美联储独立性受损的新信号感到不安， 美元指数 被迅速推至三年多来最低水平。 周三，美国总统特朗普称美联储主席鲍威尔"糟糕透顶"，这是他对美联储主席的最新抨击，并表 示已考虑三到四人作为美联储主席职位的候选人。 周四，美元兑一篮子主要货币重返多年低点，抹去了本周早些时候因中东紧张局势引发的避险资 金流带来的短暂喘息。 美元指数今年迄今已下跌10%，有望创下2003年以来最差年度表现。随着 市场对美联储独立性的担忧加剧，加之降息预期升温及7月9日贸易谈判截止日临近，美元指数料 将进一步走弱。 加拿大皇家银行蓝湾资产管理高级投资组合经理卡斯帕·亨泽（Kaspar Hense）表示： "在机构公 信力受损的环境下，我们做空美元。" 他补充称，若哈塞特或贝森特这类人物上任并"无视基本面风险而降息，市场仍会剧烈波动"。据 报道，下一任美联储主席的主要候选人包括前美联储理事沃什、国家经济委员会主任哈塞特、现 任美联储理事沃勒和财政部长贝森特。 法国兴业银行首席外汇策略师基特·朱 ...

Core Viewpoint - Tesla is evolving into a full-stack infrastructure company encompassing energy, autonomous driving, and computing, which will enable it to reduce vehicle costs while expanding its autonomous taxi service and launching the Optimus unit [1][2][3] Group 1: Autonomous Taxi Service Launch - Tesla recently launched its highly anticipated autonomous taxi service in Austin, marking a significant milestone towards its vision of autonomous mobility, although it is not yet available to the public [1][2] - Initial feedback from invited users indicates a "smooth ride" and a "game changer" sentiment, with optimistic projections suggesting the autonomous taxi service could represent the beginning of a $1 trillion autonomous driving journey [2][3] Group 2: Market and Regulatory Challenges - Reports of Tesla's autonomous taxis frequently driving into wrong lanes or exceeding speed limits have drawn the attention of the National Highway Traffic Safety Administration (NHTSA), raising investor concerns about potential delays in the service's full rollout in Austin [1][3] - The recent public dispute between Elon Musk and former President Trump has raised concerns about possible regulatory hurdles that could impact Tesla's autonomous driving future [4][5] Group 3: Cost and Competitive Advantage - Tesla's vertical integration allows it to produce vehicles at approximately 25% of the cost of Waymo, enabling faster scaling of its fleet and operations compared to competitors [5][6] - The company is leveraging its data advantage to enhance its Full Self-Driving (FSD) capabilities, with a goal of launching fully autonomous vehicles by the end of 2026 [6] Group 4: Financial Performance and Projections - Tesla's total revenue for the last quarter was $19.93 billion, reflecting a 9% year-over-year decline and a 24% quarter-over-quarter decline, primarily due to reduced vehicle deliveries and average selling prices [8] - Analysts predict a 0.35% year-over-year revenue decline for the current fiscal year, with a recovery expected starting in fiscal year 2026, driven by the increasing contribution of the autonomous taxi service to total revenue [9][11] Group 5: Future Outlook - Analysts maintain a "buy" rating for Tesla, with a target price of $418 per share, as the operational leverage from the autonomous taxi fleet increases and the business model shifts towards recurring software revenue [2][13] - The autonomous taxi service is expected to account for 90% of Tesla's enterprise value by 2029, benefiting from its vertical integration and cost advantages [7][13]

Core Viewpoint - Lululemon's recent financial performance indicates a slowdown in growth, with a significant drop in stock price following disappointing earnings guidance and increased inventory levels, raising concerns about the brand's high-end positioning and market strategy [3][5][8]. Financial Performance - For Q1 of fiscal year 2025, Lululemon reported revenue of $2.371 billion, a year-over-year increase of 7.32%, while net profit decreased by 2.13% to $310 million [3][5]. - The company has lowered its revenue guidance for Q2 and the full fiscal year, expecting a revenue increase of approximately 5% to 7% for the year, with total revenue projected between $11.15 billion and $11.3 billion [4][5]. - Following the earnings report, Lululemon's stock price fell by 19.8%, reaching a five-year low, with a year-to-date decline exceeding 39% and a market cap loss of over $17.1 billion [5][7]. Market Dynamics - Lululemon's inventory surged by 22.81% in Q1, contrasting with a revenue growth of only 7.32%, suggesting potential future discounting to manage excess inventory, which could harm brand perception [8][16]. - The company’s revenue breakdown shows that the Americas accounted for 57.47% of total revenue, while China contributed 17.39%, indicating a growing reliance on the Chinese market for growth [18][20]. Strategic Adjustments - Under CEO Calvin McDonald, Lululemon shifted its strategy towards a more inclusive market approach, increasing the proportion of men's products and expanding into new categories [11][12]. - The company plans to open 40 to 45 new stores in 2025, primarily in international markets, with a focus on second and third-tier cities in China [27][30]. Challenges Ahead - The brand faces a dilemma between maintaining its high-end image and expanding into lower-tier markets, which could dilute its brand equity [16][32]. - Analysts express concerns that Lululemon's growth quality is diverging from its premium positioning, likening its strategy to that of Coach rather than Hermes [35][36].