Reddit - Reddit reported a significant quarterly performance with sales increasing by 68% year-over-year, reaching $585 million [1][2] - Adjusted profit per share was $0.80, surpassing the expected $0.51, compared to a profit of $29.9 million a year ago, totaling over $162 million [2] - Advertising sales surged by 74%, with broad-based demand across nine out of fifteen industry categories, including retail, finance, and pharmaceuticals [3] Revenue Guidance - For Q4, Reddit is guiding revenue between $655 million and $665 million, indicating strong confidence in continued double-digit growth [3][4] User Engagement - Daily active users increased by 19% year-over-year, aided by a partnership with Alphabet (Google) that enhances visibility in search results [4] Western Digital - Western Digital also reported strong earnings, with adjusted EPS of $1.78, beating the expected $1.59, and revenue of $2.82 billion, exceeding the forecast of $2.72 billion [6] - Growth is driven by demand in AI and cloud services, with strong commitments from top customers extending orders through at least mid-2026 [7] Coinbase - Coinbase had a positive quarter with adjusted EPS of $1.44 and revenue of $1.87 billion, both exceeding expectations [8][9] - Transaction revenue surged by 37% from the previous quarter, indicating a revival in trading activity among both retail and institutional investors [9][10]

Group 1 - Amazon shares increased by 13.2% following earnings report, with multiple investment banks raising their target prices [1] - Apple shares rose by 2.1%, reaching an all-time high, with the current quarter's revenue guidance showing the highest growth rate in four years [1] - Getty Images surged by 54.2% after announcing a partnership with Perplexity [1] Group 2 - Western Digital shares climbed by 12.4% due to strong market demand leading to better-than-expected performance in the first fiscal quarter [1] - Pony.ai shares increased by 4.3% after receiving the first commercial autonomous taxi operating license in Shenzhen [1]

Market Overview - US stock index futures are all up ahead of the market opening, with Dow futures rising by 0.24%, S&P 500 futures up by 0.87%, and Nasdaq futures increasing by 1.43% [1] - European indices are down, with Germany's DAX down by 0.47%, UK's FTSE 100 down by 0.32%, France's CAC40 down by 0.26%, and the Euro Stoxx 50 down by 0.34% [2][3] - WTI crude oil prices fell by 0.38% to $60.34 per barrel, while Brent crude oil dropped by 0.40% to $64.11 per barrel [4] Economic Events - The US stock market will enter winter time next week, adjusting trading hours, with pre-market trading from 5:00 PM to 10:30 PM Beijing time and regular trading from 10:30 PM to 5:00 AM Beijing time [4] Trade Relations - US Treasury Secretary stated that the US-China trade agreement could be signed as early as next week, with both sides agreeing to enhance economic cooperation [5] Corporate Earnings - ExxonMobil reported Q3 adjusted profits of $8.1 billion, exceeding analyst expectations, driven by increased production in Guyana and the Permian Basin [7] - Chevron's Q3 net profit was approximately $3.6 billion, a 20% year-over-year decline, but adjusted earnings per share surpassed expectations at $1.85 [8] - Apple reported Q4 earnings of $102.5 billion, a 7.9% year-over-year increase, with earnings per share of $1.85, exceeding analyst forecasts [9] - Western Digital's Q3 revenue grew by 27.4% to $2.82 billion, surpassing expectations, with adjusted earnings per share of $1.78 [10] - Amazon's Q3 net sales increased by 13% to $180.2 billion, with AWS sales growing by 20%, marking the fastest growth in three years [11] - Vale's Q3 revenue rose by 9% to $10.42 billion, with net profit increasing by 78% to $2.744 billion, exceeding analyst expectations [12] Strategic Partnerships - NVIDIA announced collaborations with Samsung, SK Group, and Hyundai to build AI factories in South Korea, supplying over 260,000 accelerator chips [13] - Nokia's stock surged after NVIDIA agreed to invest $1 billion, positioning Nokia as a key player in the European AI sector [14]

Core Insights - Western Digital Corp. reported better-than-expected first-quarter financial results with earnings of $1.78 per share, surpassing the analyst consensus estimate of $1.58 per share, and quarterly sales of $2.818 billion, exceeding the estimate of $2.725 billion [1][2] Financial Performance - The company expects fiscal second-quarter revenue to be between $2.8 billion and $3 billion, compared to Benzinga Pro estimates of $2.82 billion [2] - Adjusted earnings for the second quarter are anticipated to be between $1.73 and $2.03 per share, against estimates of $1.71 per share [2] Market Reaction - Following the earnings announcement, Western Digital shares fell by 2.3%, closing at $138.13 [3] Analyst Ratings - B of A Securities analyst Wamsi Mohan maintained a Buy rating on Western Digital and raised the price target from $145 to $170 [5] - Mizuho analyst Vijay Rakesh also maintained an Outperform rating, increasing the price target from $160 to $180 [5]

Core Insights - Western Digital's top seven customers have provided purchase orders through at least the first half of next year [1] Group 1 - The company has secured purchase orders from its major customers, indicating strong demand for its products [1]

Core Viewpoint - Western Digital (WDC.US) shares surged over 12% in pre-market trading, reaching $154.9, with the potential to hit a historical high following the release of its Q1 FY2026 earnings report [1] Financial Performance - Revenue for Q1 FY2026 increased by 27.4% year-over-year to $2.82 billion, surpassing analyst expectations of $2.74 billion [1] - Adjusted earnings per share (EPS) were reported at $1.78, exceeding analyst forecasts of $1.58 [1] - Free cash flow improved significantly to $599 million, compared to a negative $61 million in the same period last year [1] Future Guidance - The company anticipates Q2 revenue to be between $2.8 billion and $3.0 billion, with adjusted EPS expected to range from $1.73 to $2.03 [1] - Analyst expectations for Q2 revenue and adjusted EPS are $2.83 billion and $1.74, respectively [1]

Group 1: Earnings Reports - Exxon Mobil Corp. is expected to report quarterly earnings of $1.82 per share on revenue of $87.71 billion [2] - Apple Inc. reported fourth-quarter revenue of $102.47 billion, exceeding analyst estimates of $102.17 billion, with earnings of $1.85 per share, beating estimates of $1.76 per share [2] - Chevron Corp. is anticipated to post quarterly earnings of $1.71 per share on revenue of $49.01 billion [2] - Amazon.com Inc. reported third-quarter net sales of $180.2 billion, a 13% year-over-year increase, surpassing the consensus estimate of $177.8 billion [2] - Western Digital Corp. issued strong second-quarter earnings guidance, expecting adjusted earnings between $1.73 and $2.03 per share, compared to estimates of $1.71 per share [2] Group 2: Stock Performance - Exxon Mobil shares fell 0.3% to $114.30 in after-hours trading [2] - Apple shares gained 2.3% to $277.75 in after-hours trading [2] - Chevron shares fell 0.2% to $153.20 in after-hours trading [2] - Amazon shares jumped 13.2% to $252.18 in after-hours trading [2] - Western Digital shares surged 10.4% to $152.50 in after-hours trading [2]

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Group 1 - Western Digital's stock rose over 10% after it was highlighted as a global leader in NAND storage [1] - HDD manufacturers, including Western Digital and Seagate, have not planned to expand production lines, leading to a supply shortage in HDDs due to the growing demand for AI storage [1] - The lead time for NLHDD has dramatically increased from a few weeks to over 52 weeks, exacerbating the storage gap for CSPs [1] Group 2 - The current market demand gap for cold data storage is approximately 180-200EB, prompting CSPs to accelerate the adoption of SSDs over HDDs [1] - Industry forecasts suggest that large-capacity QLC SSD shipments may experience explosive growth by 2026 [1] - Samsung Electronics anticipates that HBM sales in 2026 will significantly exceed this year's figures, with plans to expand HBM production [1] Group 3 - The AI-driven memory semiconductor supercycle is expected to be more prolonged and robust than previous boom periods, with supply shortages potentially lasting 3-4 years [1] - TrendForce reports that DRAM prices are expected to increase by 8-13% quarter-over-quarter in the fourth quarter, with older process DRAM prices seeing substantial growth [1] Group 4 - Key storage module manufacturers include De Ming Li, Jiang Bo Long, Bai Wei Storage, Shannon Chip Creation, and Kai Pu Cloud [2] - Advanced storage manufacturers include Zhaoyi Innovation, Hengshuo Co., and Beijing Junzheng [2] - NAND manufacturers include Zhaoyi Innovation and Dongxin Co., while overseas manufacturers include Micron, SanDisk, and Western Digital [2]

Core Viewpoint - Western Digital reported strong Q3 2025 results, exceeding analyst expectations in revenue, operating profit, and earnings per share, leading to a significant increase in stock price [1][2]. Financial Performance - Q3 revenue reached $2.82 billion, a year-over-year increase of 27.4%, surpassing analyst expectations of $2.74 billion by 2.8% [1]. - Adjusted earnings per share (EPS) were $1.78, exceeding the forecast of $1.58 by 12.9% [1]. - Adjusted operating profit was $856 million, above the expected $756.4 million, with an operating margin of 30.4%, exceeding expectations by 13.2% [1]. - Free cash flow improved significantly to $599 million, compared to a negative $61 million in the same quarter last year [1]. - Inventory turnover days increased to 80 days, up from 76 days in the previous quarter [1]. Market Environment - The CEO highlighted strong operational performance driven by growing demand for cloud data storage [2]. - Western Digital has experienced a decline in revenue over the past five years, averaging a 9.4% annual decrease, indicating relatively lower business quality compared to industry standards [2]. - The semiconductor industry is characterized by cyclical trends, necessitating preparedness for alternating periods of high growth and revenue contraction [2]. Future Outlook - Analysts project a 14.9% revenue growth for Western Digital over the next 12 months, indicating stronger momentum from new products and services [3]. - The rise of generative AI is expected to significantly impact large enterprises, with Western Digital gaining market attention despite being less known compared to giants like NVIDIA and AMD [3]. - Current inventory turnover days stand at 80, which is 34 days lower than the five-year average, suggesting no immediate signs of excessive inventory buildup [3].