Group 1: Market Dynamics - Nvidia's market capitalization reached $3.89 trillion, just shy of the $4 trillion mark, which would surpass Apple's record of $3.915 trillion [1] - The combined market value of Nvidia, Microsoft, and Apple is significant enough to purchase a large portion of the European stock market [3] - The current market sentiment is divided, with bulls believing Nvidia could reach $5 trillion and bears arguing it resembles the 2000 internet bubble [10][11] Group 2: Apple’s Decline - Apple's market capitalization is currently $3.19 trillion, which is $700 billion less than Nvidia, equating to the value of three Kweichow Moutai or ten CATL [3][6] - The company has struggled with innovation, as recent iPhone models show minimal advancements, leading to consumer fatigue [4][6] - Apple's AI capabilities are lagging behind competitors, with Siri failing to meet expectations while rivals like Microsoft and Google integrate AI effectively into their products [4][6] Group 3: Nvidia’s Ascendancy - Nvidia has transformed from a gaming-focused company to a leader in AI chips, with its GPUs being essential for major tech companies' AI initiatives [7][8] - The company enjoys a high gross margin of 78%, indicating a highly profitable business model compared to traditional industries [8] - Analysts predict that over the next three years, global investments in AI will exceed $2 trillion, with a significant portion flowing to Nvidia [8][10] Group 4: Investment Perspectives - Bulls argue that the demand for AI will continue to grow, making Nvidia's current valuation attractive despite its high price-to-earnings ratio of 32 [10] - Bears caution that current spending on chips may not reflect genuine demand, likening it to the overinvestment seen during the internet bubble [11] - The potential for a bubble exists, but it may persist longer than expected due to ongoing AI demand and favorable monetary policy [13]

有"新债王"之称的双线资本（DoubleLine Capital）首席执行官杰弗里·冈拉克（Jeffrey Gundlach）表示， 美国的债务负担和利息支出已变得"难以为继"，这一局面可能导致投资者撤离美元资产。 这位资深债券经理周三在洛杉矶彭博全球信贷论坛的采访中称："如今市场意识到，长期美国国债已不 再是真正的避险资产，一场'清算'即将到来。" 该公司及其创始人向来敢于提出大胆观点：冈拉克曾预测2016年特朗普首次当选总统；去年9月他给美 联储的经济应对措施打F分，并正确预测了50个基点的降息；今年早些时候，其公司公开怀疑微软债券 是否比美债更安全。 关于美国国债，冈拉克表示，随着经济开始走弱，长期债券收益率可能继续上升。若收益率触及6%， 可能促使美联储介入启动量化宽松，购买长期美债以控制借贷成本。 面对不断飙升的联邦债务和赤字，双线资本及太平洋投资管理公司（PIMCO）、TCW集团等同行一直 避开最长期限的美国国债，转而青睐利率风险较低的短期债券。 美国30年期国债收益率上月触及5.15%的近20年高点，截至周三报4.91%。值得注意的是，尽管短期美 债收益率已回落，长期基准收益率今年以来仍保持上涨 ...

导读：智通财经6月12日投资避雷针，近日，A股及海外市场潜在风险事件如下。国内经济信息方面包括：1）25年散装飞天茅台批发价跌破2000元/瓶；2）5 月全国期货交易市场成交量同比下降4.51%；公司方面重点关注包括：1）兴业证券表示，截至目前，未得到任何有关"与华福证券合并"的信息；2）*ST亚 振：多次触及股票交易异常波动，今起停牌核查；海外市场重点关注包括：1）美股三大指数集体收跌，英特尔跌超6%；2）伦敦基本金属多数下跌，LME 期镍、LME期铜均跌超1%。 经济信息 3、周三（6月11日），伦敦基本金属多数下跌，LME期镍跌1.13%报15145.00美元/吨，LME期铜跌1.12%报9647.00美元/吨，LME期锌跌0.24%报2651.00美 元/吨，LME期锡跌0.46%报32560.00美元/吨，LME期铝涨0.96%报2516.50美元/吨，LME期铅涨0.61%报1993.50美元/吨。 2、*ST亚振：多次触及股票交易异常波动，今起停牌核查。 3、超捷股份：三股东计划合计减持不超3.73%公司股份。 4、艾可蓝：股东拟减持不超过3%公司股份。 5、风语筑：两股东拟合计减持不超3%公司 ...