Market share recovery in AirPods. We saw stronger-than-expected sales of AirPods Pro 3 thanks to its technology upgrades and new functions including health monitor and real-time translation. Apple has renewed its partnership with Goertek, and Goertek has entered the NPI (new product introduction) of the next generation model of AirPods, to be launched in 2026. Besides, with better operation of the Vietnam subsidiary through a JV with FIT, we expect Goertek to recapture 30% share of AirPod production in 2025 ...

I'm here at Meta's headquarters in Silicon Valley, California with their new lineup of smart glasses or AI glasses as they call them. These are the new Oakley Vanguard, their first sport ccentric smart glasses. You have the camera in the middle uh which gives you a much better field of view for capture. You have improved features for recording like a slow motion mode in a time-lapse mode, better battery life.But the star of the show are actually these. These are the new display glasses from Meta, the Meta R ...

AI Development - Meta's CTO provided a post-mortem on demo failures of new AI glasses at its developer conference [1] Company Focus - Meta showcased new AI glasses at its developer conference [1]

This is Meta Rayban display. First AI glasses with a highresolution display. I could go ahead and I could dictate with my voice.I could send a voice clip, but I've got this neural bit and it's silent. We are replacing the keyboard, mouse, touchcreen, buttons, dials with the ability to send signals from your brain with little muscle movements that the neural band will pick up so you can silently control your glasses with barely perceptible movements. The meta neural band is a huge scientific breakthrough wit ...

Market Overview - The Federal Reserve cut interest rates by 25 basis points, signaling a cautious approach to future cuts, with no preset course for additional reductions [1][4][6] - Following the Fed's decision, the market opened positively, with the NASDAQ up approximately 0.8% and the S&P 500 up around 0.4% [1][2] - The US dollar index showed signs of recovery, bouncing off three-and-a-half-year lows, while gold futures slightly declined from record highs [1][2] Nvidia and Intel Deal - Nvidia announced a $5 billion investment in Intel, acquiring a 4% stake, which is expected to enhance Intel's capabilities in AI data centers and chip production [1][2][3] - Intel's shares surged by 25% following the announcement, while AMD's shares fell by around 5%, indicating market concerns about AMD's competitive position [1][2] - This partnership is seen as a significant boost for Intel, which has faced challenges in the AI race, and it positions Nvidia to strengthen its market dominance [2][3] Labor Market Concerns - Fed Chair Jerome Powell expressed concerns about the labor market, indicating potential weakness in upcoming non-farm payroll reports, with expectations of payroll growth under 100,000 [2][4] - Economists suggest that the labor market dynamics are changing, with immigration crackdowns contributing to supply and demand issues [2][4] - Powell's comments reflect a balancing act between achieving stable prices and full employment, with inflation remaining above the Fed's target [4][5][6] Economic Outlook - Analysts predict that sectors sensitive to interest rates, such as financials and housing, may continue to outperform as the market adjusts to the Fed's rate cuts [2][3] - The ongoing investments in chip manufacturing in the US are expected to positively impact GDP, with significant capital expenditures already being observed [3][20] - The overall economic environment remains cautious, with potential risks of a deeper downturn as the Fed navigates its dual mandate [4][12][14] Meta's Competitive Position - Meta has introduced new AI-enhanced hardware, including eyeglasses, aiming to challenge Apple's dominance in the tech space [1][3] - Despite Meta's innovations, analysts believe Apple still holds a significant advantage with its extensive installed base and ecosystem [3][20]

Group 1 - The company aims to develop AI glasses that provide personal super intelligence and a sense of presence through realistic holograms, contributing to the concept of the Metaverse [1] - AI glasses are considered the ideal form factor for personal super intelligence as they allow users to remain present while accessing AI capabilities that enhance communication, memory, and sensory experiences [2] - The company has been shipping AI glasses for three years in partnership with EssilorLuxottica, and the sales trajectory is comparable to some of the most popular consumer electronics [2] Group 2 - The design of the glasses prioritizes aesthetics and comfort, ensuring they are well-designed for all-day wear before integrating any technology [3]

US stock futures jumped on Thursday after the Federal Reserve returned to easing interest rates and signaled further cuts are coming, while a Nvidia (NVDA) lifeline for Intel (INTC) boosted spirits. Dow Jones Industrial Average futures (YM=F) rose 0.7%, while those on the S&P 500 (ES=F) moved 0.8% higher. Contracts on the tech-heavy Nasdaq 100 (NQ=F) led with a 1.2% gain, taking another leg up as Nvidia (NVDA) said it plans to take a multibillion-dollar stake in Intel (INTC). Shares in Intel surged almos ...

Core Viewpoint - Meta Platforms has shown strong stock performance with a nearly 30% rise this year, and it is considered an excellent buying opportunity due to several compelling reasons. Group 1: Dominance and Revenue Growth - Meta Platforms operates the most widely used social media apps globally, including Facebook, Instagram, Messenger, WhatsApp, and Threads [3] - In Q2, Meta's advertising revenue increased by 22%, and Q3 is expected to see a 20% rise in revenue, indicating continued strength in its business [3] Group 2: AI Integration - The rapid revenue growth is attributed to the incorporation of artificial intelligence (AI) features into its advertising platform, leading to improved ad conversions and increased user engagement [4] - Meta has attracted top AI talent with significant signing bonuses, which may yield innovations in the coming years [5] Group 3: Valuation and Growth Potential - Despite being at the forefront of AI investments, Meta's stock is not dramatically overvalued, trading at just over 27 times trailing earnings, which is reasonable compared to the S&P 500's 24.8 times earnings [6][8] - The company is also exploring other technologies, such as AI glasses, which could enhance its product offerings if developed successfully [9]

Core Insights - The AI glasses market is projected to grow significantly, with shipments expected to increase by 158%, reaching 5.1 million units globally by 2025 [1] - By 2026, the market is anticipated to exceed 10 million units, driven by major consumer technology companies like Google and Xiaomi [1] - The market is forecasted to reach 35 million units by 2030, indicating a compound annual growth rate (CAGR) of 47% from 2025 [1]

Core Business Performance - JD.com's core retail business is a key growth engine, with revenues rising 20.6% year over year to RMB 310.1 billion, significantly contributing to total company revenues [1][9] - Profitability improved, with operating margin increasing to 4.5% from 3.9%, marking the best sequential performance [1][9] - Strong performance across categories: electronics and home appliances up 23%, general merchandise up 16%, and supermarkets achieving six consecutive quarters of double-digit gains [1] Supply Chain and Customer Engagement - JD's supply chain strength is a major driver of growth, with investments in automation, logistics efficiency, and fulfillment upgrades enhancing scale and profitability [2] - Active customer counts and shopping frequency increased by over 40% year over year, indicating stronger retention and cross-category purchases [2] - Promotional events like the 618 Festival and differentiated supermarket offerings are boosting engagement and supplier partnerships [2] Future Growth Initiatives - JD is investing in future growth through its "One Step Ahead" upgrade program, supporting 3C manufacturers and promoting emerging categories such as AI glasses and intelligent robots [3] - JD MALL has expanded to 24 stores, integrating offline retail with digital experiences to enhance omnichannel reach [3] Market Outlook - The Zacks Consensus Estimate projects JD.com's revenue growth of 14.04% in 2025 and 5.15% in 2026 [4] - Grand View Research forecasts China's smart retail market to grow at a compound annual growth rate of 31.9% through 2033, indicating a critical long-term growth driver for JD [4] Competitive Landscape - Sea Limited's Shopee is rapidly expanding, with second-quarter 2025 e-commerce revenues up 33.7% year over year, presenting a formidable challenge to JD due to its asset-light model [5] - Alibaba remains JD's toughest rival in China's retail segment, leveraging its scale and marketplace model to maintain superior margin flexibility and cross-business synergies [6] Valuation and Price Performance - JD.com shares have declined 2.9% year to date, compared to a 12.5% return for the Zacks Internet - Commerce industry [7] - JD.com is trading at a forward 12-month price-to-earnings ratio of 10.09X, significantly lower than the industry's 24.93X, indicating a favorable valuation [10] - The Zacks Consensus Estimate for JD's full-year 2025 revenues is $183.33 billion, reflecting a 14.04% year-over-year growth [13]