大反攻！大佬卖飞了？

Market Overview - A-shares unexpectedly recovered the 3900-point mark, marking the second time since the holiday that this level has been reclaimed [1] - The market rally was driven by easing trade tensions, reduced panic over U.S. credit, and increasing expectations of an interest rate cut by the Federal Reserve next week [1] - Technology stocks, particularly those related to Apple, storage chips, and CPO, showed strong performance, reversing the previous day's decline [1] ETF Performance - The "AI computing power" ETFs dominated the gainers list, with the Communication ETF, 5G ETF, and 5G Communication ETF rising over 6% [1] - Notable ETF performances included: - Communication ETF: +6.76% (Year-to-date: +97.95%) - 5G ETF: +6.40% (Year-to-date: +82.13%) - 5G Communication ETF: +6.20% (Year-to-date: +83.26%) [3] Apple Inc. Insights - Apple's stock rose over 3.9% to $262.24, reaching a market capitalization of approximately $3.9 trillion, marking a new high for the year [6] - The iPhone 17 series has seen early sales surpassing the previous generation by 14% in the U.S. and China, with the base model performing particularly well in China [7][8] - Berkshire Hathaway has significantly reduced its Apple holdings, from 906 million shares at the end of 2022 to 280 million shares by June 30, 2023, raising questions about the timing of this decision [10][11] Gold Market Dynamics - Gold prices reached a new historical high, surpassing $4320, despite easing trade tensions and credit concerns in the U.S. [12] - Central banks and institutional investors are increasingly shifting from dollar assets to gold, indicating a potential for continued price increases [13] - Ray Dalio emphasizes gold's unique position as a stable investment and suggests a strategic allocation of 10% to 15% in investment portfolios [13][14] Gold ETF Landscape - There are currently 20 gold ETFs in the A-share market, with a total scale of 236.6 billion yuan and a net inflow of 101.7 billion yuan this year [17] - The top three gold ETFs by scale are: - Huashan Gold ETF: 84.95 billion yuan - Bosera Gold ETF: 39.77 billion yuan - E Fund Gold ETF: 34.03 billion yuan [18][21]