NCI earnings conference transcript! Executives respond to "net investment return rate under pressure"Electricity, heat dissipation, metals, and engineering construction, China's AI data center's "non-IT infrastructure" will be an 800 billion marketAmazon (Minutes): Computing power supply to double again by 2027No interest rate hike, but there is a significant change at the Bank of JapanGoogle's momentum surpasses Meta, with the outcome in 2026 depending on the capabilities of the next-generation modelsFrom models, cloud to applications "full-line positioning", Goldman Sachs: Google's "full-stack AI" advantage fully demonstratedCan the global stock market carnival last into the new year? Chongqing study tour discussion: A chat with Fu Peng and Yu Le about asset allocation trends in 2026Understanding the Market | FUSEN PHARM surged nearly 74% during the session as Enzalutamide soft capsules were approved for market launch, and Metformin and Ertugliflozin tablets are expected to be selected for national centralized procurementUnderstanding the Market | SYNAGISTICS plummets over 17% to a new low, plans to issue convertible bonds to raise approximately HKD 260 million for investment in gold and related productsFor the second time in ten years! Netflix announces a "10-for-1" stock split to facilitate employee option exercisesFederal Reserve turns hawkish? Barclays: Powell aims to "break the inevitable rate cut expectations," and data supports more rate cutsApple (Minutes): Increase AI investment, launch new version of Siri next yearUnderstanding the Market | CRRC fell over 8%, with a year-on-year decline of 10.7% in net profit attributable to the parent company in the third quarterWater fees trigger inflation in Tokyo "bomb" Bank of Japan's interest rate hike gains support Yen rises in responseAWS major reversal, has Amazon finally 'seen the light at the end of the tunnel'?The "stock god" is two months away from "retirement," and the "stock god premium" of Berkshire Hathaway is already goneUnderstanding the Market | XINTE ENERGY fell nearly 8% during the session, with a net loss of 526 million yuan in the first three quarters. The market is paying attention to the polysilicon storage planUnderstanding the Market | DEEPEXI TECH continues to rise against the market trend, with an intraday increase of over 14%. The company is a provider of enterprise-level large model AI application solutionsXi Jinping will attend the 32nd APEC Leaders' Informal Meeting and deliver an important speechApple conference call: Expected to welcome the strongest iPhone quarter in history, significantly increasing AI research and development investmentAmazon conference call: While laying off employees, it makes a massive bet of hundreds of billions on AI. The CEO says, "The faster we increase capacity, the faster we can monetize."Apple: iPhone maintains its central position, when will AI reveal its true form?Liquidity concerns intensify, traders heavily bet on the federal funds rate spreadFearless of AI's huge spending concerns! Meta's bond issuance received a record oversubscription of $125 billionCITIC Securities: The meeting between the Chinese and U.S. presidents went smoothly, Hong Kong stocks' risk appetite may rise, and U.S. stocks still have allocation valueTrading volume hits a new high! Coinbase's revenue surged by 55%, and the CEO stated that details on "stock tokenization and prediction markets" will be showcased in December, continuing the move towards a "universal exchange."Amazon CEO says massive layoffs are unrelated to AI: "It's about culture"Undeterred by a market value evaporation of $200 billion, Meta issued a record $25 billion in bonds, even raising U.S. Treasury yieldsThe whole world is speculating on technology stocks! The AI frenzy is also reshaping the Asian stock marketIs there a "bad omen" in the US stock market?US Stock Information Active List | Most of the Mag7 fell back, with Meta leading the decline by over 11%, and third-quarter tax expenses causing profits to plummet by 80%Breakfast | All three major indices fell, with technology stocks leading the decline, Meta plummeting 11%, and eBay crashing over 15%The service sector supports Apple's revenue reaching a record high for the same period last season, while revenue in China unexpectedly declined, and iPhone sales during the off-season were disappointing, but a double-digit increase is expected this season | Earnings Report InsightsThe market's "frightening" moment at noon: After a sharp drop, U.S. stock futures and risk assets like cryptocurrencies rebounded, while gold surged and then fell backAccording to reports, Netflix is considering acquiring Warner Bros. film and streaming businessMeta plans to issue $30 billion in bonds to raise funds for AI expansionAmazon's third-quarter revenue reached USD 180.169 billion, with net profit increasing by 38% year-on-yearInternational Early Bird | Amazon's quarterly results exceed expectations, stock price surges over 13% after marketApple expects the new iPhone to bring a booming holiday season, CEO Tim Cook is optimistic about the recovery of growth in the Greater China marketReminder: Please pay close attention to the following (all times are in Beijing time)Ray Dalio: Gold is the safest currencyAfter the Federal Reserve cut interest rates, U.S. mortgage rates rose instead of falling. Analysts: The FOMC policy outlook is the keyInformed sources: Intel is negotiating to acquire AI chip startup SambaNovaApple Inc. reported revenue of USD 102.466 billion for the fourth fiscal quarter, with a net profit growth of 86% year-on-yearAWS achieves the fastest growth in three years, capital expenditures surge by 55%, Amazon rises nearly 12% after hours | Earnings Report InsightsOpenAI and Oracle announced the construction of an interstellar gateway data center park in Michigan, expected to begin in early 2026October 31 External Headlines: Apple's Q3 revenue slightly exceeds expectations, Netflix splits stock, NVIDIA invests in AI startups again, US government shutdown puts pressure on the aviation industryFederal Reserve Vice Chair for Bank Supervision Michelle Bowman announced that she will cut about 30% of the members of her bank supervision departmentTop 20 U.S. stock trading volumes on October 31: Meta's net profit plummeted 83% year-on-year, and its stock price fell 11.3%