Sou Hu Cai Jing·2025-08-01 14:48Core Viewpoint - The US stock market experienced significant volatility, with the S&P 500 and Nasdaq indices reaching all-time highs during the day but ultimately closing lower, reflecting mixed investor sentiment amid strong earnings reports from major companies [1][7]. Company Performance - Microsoft emerged as a market leader, with its market capitalization briefly surpassing $4 trillion, making it the second company globally to reach this milestone after Nvidia. This strong performance was driven by an impressive quarterly earnings report, particularly from its AI cloud business, with Azure revenue growing 39%, exceeding analyst expectations of 35% [1]. - Apple also reported better-than-expected earnings, with third-quarter revenue increasing by 9.6%, driven by a 13% rise in iPhone revenue, bolstered by strong performance in the Chinese market. The company anticipates continued revenue growth despite facing cost pressures from increased tariffs [3]. Market Trends - The Nasdaq Golden Dragon Index, which tracks Chinese stocks, showed a slight increase, with notable gains from companies like Alibaba, NIO, Bilibili, and Baidu, indicating investor confidence in the long-term value of Chinese stocks [4]. - The IPO market saw a significant event with Figma's debut on the NYSE, where its stock price surged by 157% on the first day and closed with a 250% increase, reflecting strong demand for new tech companies. Figma's monthly active users exceed 13 million, including many non-professional designers, and it has major clients like Google and Microsoft [4][6].