Yesterday, the Russell 2000, a key benchmark for small-cap stocks, climbed 0.86%, marking its 10th consecutive trading day outperforming the $S&P 500(.SPX)$ — the longest such streak since 1990.As a result, ETFs tied to the Russell 2000 have been on fire. $ProShares UltraPro Russell 2000(URTY)$ is up 24.5% year-to-date, while $iShares Russell 2000 ETF(IWM)$ has gained 7.9% YTD, both comfortably outperforming $SPDR S&P 500 ETF Trust(SPY)$ , which is up just 1.5% over the same period.Notably, $Taiwan Semiconductor Manufacturing(TSM)$ released its fourth-quarter earnings repor

Bitcoin surged 3.4% yesterday and extended its rally with a further 1.3% gain today, decisively reclaiming the $95,000 level and marking its highest price in nearly two months. Spillover effects quickly lifted crypto-related ETFs.The $ProShares Ultra Ether ETF(ETHT)$ jumped over 7.8% overnight and is now up more than 7.9% again in Tiger Brokers’ overnight session.The largest spot Bitcoin ETF, $iShares Bitcoin Trust(IBIT)$ , gained over 3.2% overnight, while $CAM ETH(03046)$ surged more than 6.7%. On the macro front, data released by the U.S. Bureau of Labor Statistics on Tuesday showed that core consumer price inflation, which excludes the more volatil

From Brownian Motion to Linear Equations: Systemic Entropy Reduction and Valuation Reconstruction of the $Robo.ai Inc(AIIO)$ MergerToday marks the final trading day of 2025. The New Year's fireworks outside are merely a placebo for emotional investors; for quantitative traders, there is only one task worth performing at this moment: The Annual Factor Re-weighting of portfolio holdings.Regarding the discussion surrounding Robo.ai (Nasdaq: AIIO) acquiring Jidu (Jiyue Brand), the market is saturated with literary rhetoric. As a Data Fundamentalist, I must strip away this qualitative noise and return to the quantitative essence.My model indicates that this transaction is not a simple "expansion," but a textbook case of "Systemic Entropy Reduction." I

Just now, Alibaba has released its fiscal Q3 report for FY2025, covering the fourth quarter of last year. The results have beaten analyst expectations across the board.Alibaba’s stock shot up 10% before the U.S. market opened, and Chinese stocks are buzzing tonight!So, what makes Alibaba’s earnings report so exciting? Is this the moment for a full stock rebound? Revenue Beats ExpectationsIn Q3 of FY2025, Alibaba generated 280.15 billion RMB in revenue, up 7.6% YoY, beating the expected 277.37 billion RMB. This marks the highest growth rate in a year.But that’s just the start. Breaking it down by segments:1.Taobao & Tmall (Alibaba’s core e-commerce platforms) brought in 136.09 billion RMB, up 5.4% YoY, the highest growth in five quarters, surpassing the expected 131.72 billion RMB.Break

$Dell Technologies Inc.(DELL)$Why DELL Could Be a Long-Term AI PlayWhy DELL is tumbling while its AI service performs strong?Post-Earnings SelloffDell Technologies' stock dropped 11.3% in after-hours trading following the release of its FY2025 Q3 earnings (as of November 1). Revenue slightly missed expectations, and weak Q4 guidance, driven by a decline in AI server shipments, triggered the sharp selloff.Key Q3 MetricsTotal Revenue: $24.37 billion, up 9.5% YoY, slightly below the $24.59 billion analyst consensus and below the midpoint of Dell's own guidance.Segment PerformanceServers & Networking: $7.36

Yesterday, the well-known short-seller Citron posted on social media platform X that they were shorting $MicroStrategy(MSTR)$ , the strongest "shadow stock" of Bitcoin. This news caused MSTR to plunge 16% in a single day, triggering panic among investors.MicroStrategy: Bitcoin’s Biggest ProxyMicroStrategy, a company focused on business intelligence, data analytics, and cloud computing, had struggled with stagnant stock prices for years before 2020. That was when Michael Saylor made a bold move, announcing that the company would begin accumulating Bitcoin as a strategic reserve. Since then, MicroStrategy has bought a massive amount of Bitcoin.As of now, MicroStrategy holds about 331,200 Bitcoins, with a total cost of around $16.5 billion, averaging

$NVIDIA Corp(NVDA)$ After hours, NVIDIA released its Q3 FY2025 earnings (for the three months ending October 27), significantly surpassing expectations.Q3 revenue reached $35.08 billion, well above analysts' forecast of $33.25 billion. Adjusted net profit was $20 billion, exceeding the expected $18.56 billion.However, NVIDIA's stock dropped nearly 5% after hours due to Q4 guidance falling short of analyst expectations. A similar drop occurred after the previous earnings report, but the stock quickly rebounded and set a new all-time high. Will history repeat itself?In terms of revenue, Q3 saw a 93.6% year-on-year increase, greatly outperforming expectations. Specific business performance includes:Data center revenue of $30.77 billion, up 112% year-

$NIO Inc.(NIO)$ NIO recently released its Q3 earnings, which fell short of expectations.Revenue and Sales PerformanceQ3 revenue was ¥18.67 billion, down 2.1% YoY, below analysts' forecast of ¥19.17 billion and the lower end of management’s guidance (¥19.1 billion).Vehicle deliveries reached 61,855 units, slightly under the forecast of 62,053 units by just 0.32%, yet revenue was down 2.59%.This discrepancy stems from a decline in average revenue per vehicle (ARPV). ARPV in Q3 was ¥270,000, down 14% YoY and below the forecast of ¥276,000. The drop was largely due to NIO’s second brand, ALDO, whose first model, the L60, is priced lower at ¥206,900–¥255,900. ALDO sold 832 units in Q3, and sales surged to 4,319 in October, accounting for 20.6% of total

$XPeng Inc.(XPEV)$ Financial HighlightsXpeng Motors recently released its Q3 earnings report, slightly beating revenue expectations and achieving a record-high gross margin. However, the stock initially plunged 8% before recovering to a 3.77% loss, indicating mixed market reactions.Key InsightsRevenue Performance:Q3 revenue reached RMB 10.1 billion, up 18.4% YoY, slightly above the RMB 9.91 billion forecast.Business Breakdown:Vehicle Sales: RMB 8.8 billion, up 12.1% YoY.R&D and Spare Parts: RMB 1.31 billion, a 91% YoY surge driven by technical collaboration with Volkswagen, with a 60% profit margin far exceeding vehicle sales.Sales Data:Q3 deliveries totaled 46,533 units, up 16.3% YoY.New model Mona 03 performed strongly but dragged down the a

$ARM Holdings Ltd(ARM)$ ARM released its Q2 FY2025 report for the period ending September 30, surpassing expectations. However, its stock fell 5% after-hours as its guidance for the next quarter fell below market estimates.Q2 Performance OverviewARM’s Q2 revenue and profit both exceeded expectations:Revenue reached $844 million, up 4.7% year-over-year, surpassing analysts’ expectations of $810 million.This 4.7% growth rate is lower than its previous growth of about 40%.ARM’s revenue primarily depends on tech licensing, which can fluctuate due to large contracts. However, over time, ARM maintains steady growth. For Q3, management expects revenue between $920 million and $970 million, with the upper limit representing a growth rate of 17.7%, although

Last night, a historic moment occurred: $NVIDIA Corp(NVDA)$ 's market value surpassed $Apple(AAPL)$ ’s, making it the world’s most valuable company.This isn’t the first time NVIDIA has overtaken Apple. Back in June, it briefly passed Apple—though that lasted only a day. But this time, it might be different. NVIDIA could widen the gap and solidify its position as the global stock leader.Why Is This Happening?The reason behind NVIDIA’s rise is clear: it’s benefiting from the booming AI industry, with massive earnings growth. Meanwhile, Apple is struggling. Its latest iPhone sales are weak, and the company has little to show in terms of AI development.Foxconn, one of Apple’s main manufacturing partners, repo

$Intel(INTC)$ Yesterday, Intel, once a giant in the chip industry, released its third-quarter earnings report, which surpassed expectations, leading to a 7% increase in its stock price.The report revealed that Intel's revenue for the third quarter was $13.28 billion, slightly above the analyst estimate of $13.025 billion. However, due to a significant increase in restructuring and impairment charges, earnings per share fell well below expectations. Since these charges are one-time events, the disappointing profit figures did not overly concern investors.So, has Intel truly emerged from its low point? Will it rebound in the future? Intel was once the leader in the chip market, monopolizing the CPU space. However, as AMD rose and Intel's manufa

$Seagate Technology PLC(STX)$ , the hard drive giant, reported an extraordinary performance in the Q1 2025 financial report, with revenue and profit surpassing analyst expectations. Despite this, the stock price plummeted by 5% in after-hours trading.Surpassing ExpectationsSeagate's Q1 2025 revenue soared to $21.68 billion, marking a remarkable 49% year-over-year growth, exceeding the expected $21.3 billion.The adjusted gross margin came in at 33.3%, surpassing the anticipated 32% and setting a 10-year record.Adjusted net profit stood at $337 million, outstripping the predicted $308 million and reversing the year-over-year loss.Segments BreakdownSeagate primarily focuses on data storage solutions, offering HDDs, SSDs, and data storage management so

After-hours trading yesterday, $Texas Instruments(TXN)$ released its third-quarter results. While the earnings weren't stellar, management’s optimistic outlook propelled the stock up by 4%.Earnings OverviewIn Q3, Texas Instruments reported revenues of $4.15 billion, representing an 8.4% year-over-year decline. This marks the eighth consecutive quarter of revenue drops. However, the figure exceeded analyst expectations of $4.12 billion and was slightly above the midpoint of management's guidance, which was $4 billion.Additionally, the gross margin reached 59.6%, surpassing the anticipated 58.4%.Guidance for Q4Looking ahead to Q4, management projects revenues between $3.7 billion and $4 billion, which indicates a year-over-year decline of 5.6% and is