US stock market pre-market; Storage concept stocks and optical communication concept stocks collectively fell; San Disk fell more than 6%, and Marvell Technology fell more than 4%; Nasdaq futures fell more than 2%
① [Three major futures indexes fell together] Dow futures fell 0.66%, S&P 500 futures fell 1.06%, and Nasdaq futures fell 2.13%. ② [SpaceX fell more than 4% and canceled the 13th test flight mission of "Starship"] On June 16, local time, SpaceX canceled the major test flight mission of the "Starship" rocket. "Starship" was originally scheduled to take off from SpaceX's "Star Base" launch facility in southern Texas at 5:45 pm local time, performing its 13th major mission and the first launch since the company's IPO.
① [Three major futures indexes fell together] Dow futures fell 0.66%, S&P 500 futures fell 1.06%, and Nasdaq futures fell 2.13%. ② [SpaceX fell more than 4% and canceled the 13th test flight mission of "Starship"] On June 16, local time, SpaceX canceled the major test flight mission of the "Starship" rocket. "Starship" was originally scheduled to take off from SpaceX's "Star Base" launch facility in southern Texas at 5:45 pm local time, performing its 13th major mission and the first launch since the company's IPO. Musk said that because part of the engine failed to start, triggering an automatic abort of the launch, he is expected to try to launch the rocket again in the next few days. As of press time, SpaceX fell 4.27%. ③ [TSMC fell more than 3%, Morgan Stanley and Goldman Sachs raised their target prices] Morgan Stanley and Goldman Sachs both raised their target prices after TSMC’s legal meeting. Among them, Morgan Stanley raised the target price of TSMC from NT$2,888 to NT$2,988, maintaining an "overweight" rating; Goldman Sachs raised the target price from NT$3,000 to NT$3,100 and reiterated a "buy" rating. Both institutions believe that TSMC has raised its 2026 revenue growth guidance from the previous "more than 30%" to "just over 40%" and raised its full-year capital expenditure from US$52 billion to US$56 billion to US$60 billion to US$64 billion, reflecting continued strong demand for AI. Goldman Sachs said that management's stance on AI demand is more positive than in the previous quarter; Morgan Stanley believes that TSMC's AI semiconductor business is expected to have a compound annual growth rate of 70% to 80% in the future, which is better than the company's previous long-term goal of 55% to 60%. As of press time, TSMC fell 3.67%. ④[Storage concept stocks and optical communication concept stocks collectively fell, SanDisk fell more than 6%, and Marvell Technology fell more than 4%] As of press time, in storage concepts, SanDisk fell 6.77%, Western Digital fell 6.68%, Seagate Technology fell 5.70%, Huirong Technology, Rambus, and Micron Technology fell more than 4%, and SK Hynix ADR fell 3.37%. Optical communication concept stocks, Marvell Technology fell 4.41%, Corning fell 5.67%, Coherent fell 6.12%, Lumentum fell 4.81%, and Tower Semiconductor fell 5.61%. ⑤[Naifei fell by more than 9%, and Q3 revenue growth is expected to hit a new low since the end of 2023] On July 16, local time, Netflix announced its second quarter results. Revenue increased by 13% year-on-year to US$12.56 billion, and net profit increased by approximately 9% year-on-year to US$3.4 billion. Overall, it was basically in line with market expectations. However, the company expects third-quarter revenue of US$12.86 billion, a year-on-year increase of approximately 11.7%, and earnings per share of US$0.82, both lower than market expectations. The company also narrowed its full-year revenue guidance to US$51 billion to US$51.4 billion from the previous US$50.7 billion to US$51.7 billion. In addition, Netflix announced that starting from 2027, its "What We Watched" report, which discloses users' viewing time, will be released from twice a year to once a year. As of press time, Netflix fell 9.31%. ⑥[Google A fell more than 1%, Gemini 3.5 Pro reportedly delayed for several months] According to media reports on July 16, local time, the release of Google’s flagship AI model Gemini 3.5 Pro has been delayed for several months because it did not meet internal performance targets, especially in terms of code generation capabilities. According to reports, the company updated the model training data at the end of last month to improve coding capabilities, but the effect did not meet expectations. A Google spokesperson said that the company is testing Gemini 3.5 Pro and upgraded Flash models with partners and continues to advance model development. As of press time, Google A fell 1.85%.
⑦ [It is reported that Meta will hire Amazon Cloud Technology executives to accelerate the layout of data centers and cloud computing] According to media reports on July 17, local time, Amazon Cloud Technology senior manager Dave Brown plans to join Meta in the next few weeks and report to the company’s head of infrastructure. According to reports, Brown has nearly 20 years of experience in AWS, and this joining reflects Meta’s further strengthening of data center and computing infrastructure construction. Meta CEO Zuckerberg previously said that the company is considering developing cloud computing business and said that enterprise customers continue to seek to use Meta's AI models and computing resources. As of press time, Meta fell 1.78% and Amazon fell 1.45%. ⑧[Micron Technology signed long-term supply agreements with Qualcomm and others to lock in the storage needs of AI cars] On July 17, local time, Micron Technology announced the signing of long-term supply agreements with many automotive industry chain companies such as Qualcomm, Harman, Visteon, JOYNEXT, DENSO, Astemo and Hyundai Mobis to provide memory chips and storage solutions for AI cars, and lock in supply and price through long-term agreements to help customers optimize future model production planning and investment decisions. Micron Technology stated that as the development of software-defined cars accelerates, cars will become an important growth engine after data centers. The company is continuing to expand the application of AI storage in end markets such as smart cars and robots. As of press time, Micron Technology fell 4.10% and Qualcomm fell 2.99%. ⑨At 21:15 Beijing time, the U.S. industrial output in June was released month-on-month. (
⑦ [It is reported that Meta will hire Amazon Cloud Technology executives to accelerate the layout of data centers and cloud computing] According to media reports on July 17, local time, Amazon Cloud Technology senior manager Dave Brown plans to join Meta in the next few weeks and report to the company’s head of infrastructure. According to reports, Brown has nearly 20 years of experience in AWS, and this joining reflects Meta’s further strengthening of data center and computing infrastructure construction. Meta CEO Zuckerberg previously said that the company is considering developing cloud computing business and said that enterprise customers continue to seek to use Meta's AI models and computing resources. As of press time, Meta fell 1.78% and Amazon fell 1.45%. ⑧[Micron Technology signed long-term supply agreements with Qualcomm and others to lock in the storage needs of AI cars] On July 17, local time, Micron Technology announced the signing of long-term supply agreements with many automotive industry chain companies such as Qualcomm, Harman, Visteon, JOYNEXT, DENSO, Astemo and Hyundai Mobis to provide memory chips and storage solutions for AI cars, and lock in supply and price through long-term agreements to help customers optimize future model production planning and investment decisions. Micron Technology stated that as the development of software-defined cars accelerates, cars will become an important growth engine after data centers. The company is continuing to expand the application of AI storage in end markets such as smart cars and robots. As of press time, Micron Technology fell 4.10% and Qualcomm fell 2.99%. ⑨At 21:15 Beijing time, the U.S. industrial output in June was released month-on-month. (