周五晚，特朗普提名沃什出任美联储主席引爆了贵金属数十年来最惨烈的抛售，黄金曾跌11%，白银一度暴跌35%。笔者看空研究空却没来得及空，拍断大 腿。就算经历暴跌，看黄金近三个月的涨幅，比特币还有脸叫自己数字黄金吗？金价涨主要逻辑有两条：1世界越乱，需求越涨。2央行购金对价格不敏感。 逻辑1从达沃斯论坛也可见一斑。过去三年的主题分别是"在分裂的世界中加强合作"；"重建信任"；"对话的精神"。合作谈不拢？那就先重建信任。信任也 建不起来？那再退一步，起码坐下来聊聊吧。过去十年，黄金价格从1000美元/盎司走到2000，用了4年8个月；从2000走到3000，用了4年9个月；从3000走 到4000，用了7个月； 从4000走到5000，只用了111天。从5000到5600只用了三天。那些支持金价涨的理由都对，但都是一年或以上的长逻辑，解释不了金 价上周的加速赶顶。一个明显的背离是紫金矿业，紫金黄金国际，山东黄金，招金矿业等金股都在小心翼翼地创新高，义无反顾地回调。 难道上周初看多黄金的资金在赌美元美债短期能违约吗？最近看了一本书《美国违约》揭开了一段被集体遗忘的历史。1933年，大萧条最严重的时候，美国 已经债务违 ...

Core Viewpoint - The smartphone industry, particularly Apple, is expected to face challenges due to a DRAM memory shortage in 2026, but Apple plans to maintain stable pricing for the iPhone 18 series despite rising component costs [1][4]. Group 1: Memory Pricing and Supply - Apple and memory suppliers are using a quarterly pricing model, with a new round of memory price increases expected in Q2 2026, similar to Q1 [4]. - Current memory prices have risen by 10% to 25% compared to the same period last year, which will directly impact the gross margin of iPhones [4]. - Apple has secured stable supply agreements, allowing it to absorb some of the increased costs due to its industry influence [4]. Group 2: Strategic Positioning - Apple's strategy is to leverage market fluctuations to gain a competitive edge, secure chip supplies, and absorb cost pressures to expand market share [4]. - The company aims to maintain its pricing strategy for the iPhone 18, avoiding price increases despite the memory shortage driven by AI industry demand [4]. - Apple plans to compensate for profit losses through its services business, indicating a clear and defined strategic approach [4].

Group 1 - SanDisk (SNDK.US) shares rose over 13% on Thursday, marking a 60% increase in the month, closing at $84.02 [1] - SanDisk announced a price increase of over 10% for its products across all channels and consumer customers, driven by strong demand for flash memory products [1] - The demand surge is attributed to the growing storage needs in artificial intelligence applications, data centers, client devices, and mobile sectors [1] Group 2 - On April 1, SanDisk had previously announced a 10% increase in NAND memory prices [1] - Citigroup's report indicates that NAND flash demand driven by AI may face a supply shortage by 2026, reaffirming a buy rating for SanDisk [1]