On August 6, SanDisk (SNDK.US) fell over 10% in pre-market trading. On the news front, Citigroup lowered its price target on SanDisk from $2,500 to $2,100. Meanwhile, on June 25, a month and a half earlier, Citigroup had raised its target from $2,025 to $2,500, citing improving NAND flash memory price outlook and initiating a 90-day short-term upside watch. Additionally, Wells Fargo cut its target from $1,620 to $1,400. However, just half a month earlier, on July 22, Wells Fargo had raised its target from $1,250 to $1,620.

On August 6, Unitree Technology (688836.SH) announced that its initial public offering of shares on the STAR Market has been priced at RMB 150.80 per share. The offering consists of 40,446,434 shares, representing 10% of the total post-offering share capital. The offering price-to-earnings ratio is 219.23 times, higher than the industry average P/E ratio of 38.56 times. The total funds expected to be raised are approximately RMB 6.099 billion, with net proceeds of approximately RMB 5.917 billion. Strategic placement subscribers were allocated 8,089,286 shares, including the Social Security Fund, DeepSeek, and China National Petroleum Corporation. The online subscription date is August 10, and the payment date is August 12.

On July 31, Amazon shares surged 15.2% to $271.255 per share, marking their biggest gain since 2012, with a total market value of $2.92 trillion.

US Treasury Secretary Bessent said the US will actively track down Iranian assets worldwide to ensure compensation funds for victims of Iran-backed terrorist activities. Bessent stated that the US government's military and economic blockade measures against the Iranian regime will continue and will not be relaxed. (Jinshi)

On July 31, Apple (AAPL.US) plunged nearly 10% to $300.33, marking its biggest drop since April 2025. In terms of fundamentals, Apple's third-fiscal-quarter revenue rose approximately 16% year-over-year to $109.42 billion, slightly above analyst expectations. Among the details, product revenue came in at $78.68 billion, beating the expected $77.25 billion. However, services revenue—a key driver of its valuation re-rating in recent years—totaled $30.74 billion, missing the consensus estimate of $31.36 billion. Additionally, Greater China revenue reached $18.82 billion, with year-over-year growth slowing to 22%, also below analysts' forecast of $19.58 billion. During the earnings call, Apple guided fourth-fiscal-quarter revenue growth in the range of 9% to 11%, overall below the 12.1% analysts had expected. CFO Parekh noted that component supply constraints would impact iPhone, Mac, and iPad businesses in the fourth fiscal quarter, with currency fluctuations also constraining growth.

On July 31, three Federal Reserve policymakers said that dissenting votes in favor of a rate hike this week stemmed from stubborn inflationary pressures, highlighting rising internal pressure on Fed Chair Warsh to act. In statements released Friday morning, Hammack and Kashkari said they worry that although the current round of price increases may stem from short-term factors such as President Trump's tariff policies and the Iran war, the inflation situation already warrants Fed action. Logan also joined in, saying that even if inflation cools, if the Fed does not raise rates, inflation is unlikely to fully fall back to the Fed's 2% target; without any policy constraints, inflation could continue to run above target until an unexpected shock occurs. Kashkari said that if inflation remains persistently stubborn, he might support a series of rate hikes, not just a single increase, to prevent inflation from becoming further entrenched. He said: "A series of small policy adjustments may be preferable to waiting for developments to unfold and ultimately having to take more forceful action." Hammack said that if the Fed does not tighten policy, price increases could continue to accelerate. She said: "Inflation has been stubbornly above 2% for more than five years, and I have no confidence that it will return to our target on its own." (Jin Shi)

On July 31, the US 10-year Treasury yield rose to 4.7388%, the highest level since January 2025.