Summary of last week's news: Musk claims that Tesla's market value will reach $30 trillion. Nvidia's market capitalization has peaked, reminiscent of the dot-com bubble. TSMC responded that the Nanjing factory was authorized by the U.S. Department of Commerce. Apple has paused the development of the next-generation Vision Pro. Huawei's "Pure-Blood Hongmeng" system was officially released. Tata wants to acquire a majority stake in Vivo India. The president of Toyota apologized at the shareholders' meeting for the certification violation. The return of the Boeing spacecraft to Earth faces challenges. On the first day of opening, the sales of Yonghui Supermarket's Fat Donglai Adjustment Store soared by 13 times. The founder of Bawang Chaji said that China's sales will surpass Starbucks China.
1
Musk says Tesla will be worth $30 trillion
After Tesla shareholders reapproved Elon Musk's $48 billion compensation package, the familiar Musk is back. He danced to shareholders about his vision for robots and driverless cars. He excitedly talked about the massive number of humanoid robots in the future, and said that Tesla's market value would one day reach $30 trillion, which is almost 10 times the current market value of the world's most valuable publicly traded company. Related: SpaceX CEO Elon Musk said in response to netizens on X that the company plans to launch a mini version of the Starlink terminal device with built-in Wifi in a few months, which is easy to carry in a backpack, and this product will change the world. The mini version of the Starlink antenna disk has built-in Wifi and measures 28.9x24.8 cm. The purchase and monthly subscription prices are about half the price of a standard disc.
2. Nvidia's market capitalization has peaked, reminiscent of the dot-com bubble
NVIDIA stock market value reached $3,335.043 billion on June 18, surpassing Microsoft and Apple to become the largest company in the U.S. stock market capitalization. The artificial intelligence (AI) boom has endured, and Nvidia's unstoppable rally has propelled the semiconductor giant's market capitalization over that of its big tech peers. Driven by demand for the company's artificial intelligence (AI) chips. The company is leading a tech boom reminiscent of the dot-com boom at the turn of the century. Cisco under Chambers 20 years ago also achieved this peak after surpassing Microsoft in market capitalization. Chambers believes that Nvidia is in a different situation today than it was then. Nvidia's chips have been a mainstay of this AI boom and are an indispensable tool for creating complex AI systems.
Related: Looking at a popular valuation metric, U.S. tech stocks are exuding the vibes of the dot-com bubble era. The forward price-to-earnings ratio for the technology sector (i.e., the price of the sector's stocks compared to the expected profits of these companies in the coming year) recently reached 30.9, the highest level since mid-2002. On June 20, the total market value of Nvidia, Microsoft, and Apple in the U.S. stock market reached $10 trillion, the first time in history. This accounts for almost 20% of the total market capitalization of the U.S. stock market. On June 21, the market value of US stocks Nvidia was $3.11 trillion, Apple's market value was $3.18 trillion, and Microsoft's market value was $3.34 trillion.
3 TSMC Nanjing factories were authorized by the U.S. Department of Commerce
In response to market rumors that TSMC's Nanjing factory has obtained an "indefinite exemption authorization" from the U.S. Department of Commerce, TSMC officially responded that the U.S. Department of Commerce has recently issued a "Certified End User" (VEU) authorization to TSMC (Nanjing) Co., Ltd. This formal VEU authorization replaces the previous provisional written authorization issued by the Department of Commerce since October 2022. This VEU authorization does not add new permissions, but confirms that the goods and services covered by the U.S. export control regulations can be provided to TSMC (Nanjing) on a long-term basis, and suppliers are not required to obtain individual licenses. Related: In 2016, TSMC announced that it had signed an investment agreement with the Nanjing municipal government to invest $3 billion to establish a 100% owned TSMC (Nanjing) Co., Ltd. in Nanjing, which will include a 12-inch wafer fab and a design service center.
4Apple pauses development of the next-generation Vision Pro
Apple has now paused the development of the next-generation Vision Pro, focusing instead on releasing a cheaper model by the end of 2025. According to Vision Pro parts suppliers, Apple has notified at least one supplier to suspend production of the next generation of high-end Vision headsets. Ming-Chi Kuo, an analyst at Tianfeng International Securities, said: "My observation is that many people (including my own experience) buy Vision Pro and use it a few times before it is useless. If this is a common user situation, then such a problem cannot be solved by simply making a lower-priced version. Related: Apple is ending its Buy Now, Pay Later service, just over a year after it launched. It marks a retreat in the iPhone maker's ambitions to become a major provider of traditional financial services. The service, called Apple Pay Later, allows consumers to split purchases between $50 and $1,000 into four payments over a six-week period, with no interest or fees. The tech giant says it is moving to a new installment loan service offered through third-party credit and debit cards.
5. Huawei's "Pure-Blood Hongmeng" system was officially released
At the Huawei Developer Conference 2024 on June 21, Yu Chengdong, Executive Director of Huawei, Chairman of the Device BG, and Chairman of the Intelligent Vehicle Solution BU, announced the official release of the HarmonyOS NEXT (pure-blooded version of HarmonyOS) all-scenario intelligent operating system, realizing a unified ecosystem and connecting multiple devices and scenarios. He revealed that HarmonyOS NEXT will be in beta for developers and pioneer users from now on, and will be launched for consumers in August this year, and will be commercialized on a large scale in the fourth quarter of this year. At the conference, HUAWEI CLOUD also officially launched the Pangu embodied intelligent model, and the humanoid robot equipped with Pangu capabilities was also unveiled.
Related: The HarmonyOS operating system was officially released on August 9, 2019, and lasted 1,778 days, after four generations, and the number of HarmonyOS ecosystem devices has exceeded 900 million.
6. Tata wants to acquire a majority stake in Vivo India
The Indian subsidiary of Chinese smartphone maker vivo is in talks with Tata Group to acquire a majority stake amid ongoing government crackdown, in order to meet the government's requirements to localize operations. As the Indian mobile phone market has been dominated by Chinese mobile phone brands, the Indian government hopes that the new measures will increase the influence of Indian companies in the Indian mobile phone market. As a result, the Indian government requires Tata Group to hold at least a 51% stake in vivo India, while at the same time requiring the post-acquisition joint venture to be led by local companies and the distribution network to be localized. Related: There aren't many stock markets that can compare to the booming Nasdaq. India is an exception. Strong profit growth, geopolitical tailwinds, and favorable demographics make the country a compelling case to invest. From the end of 2019 to June 18, the MSCI India index soared 110%, ahead of the 99% gain of the US-dominated tech-heavy Nasdaq.
7
Toyota's president's general meeting of shareholders apologized for the certification violation
Toyota Motor Corporation (Toyota Motor) held an annual general meeting of shareholders at its headquarters in Toyota City, Aichi Prefecture on the 18th. Toyota announced on March 3 that there had been a certification violation in the "type designation" required for mass production of vehicles, and President Tsuneji Sato apologized, saying, "We sincerely apologize for the concern and inconvenience caused to our customers and shareholders." This is the first time Sato has spoken in public since the issue of violations was made public. At the meeting, a proposal was put forward to elect 10 people including Chairman Akio Toyoda as directors and was approved. Toyota Motor Corporation announced on March 3 that it has violated certification standards for seven of its models, including the YARiS Cross, following Daihatsu Kogyo and Toyota Industries.
Related: Nissan Motor will close its passenger car plant in Changzhou, Jiangsu province. The plant has a production capacity of about 130,000 units a year, which is likely to account for about 10% of the total production in China. The production of sports utility vehicles (SUVs) at the plant will be transferred to other plants in China. Nissan's joint venture with Dongfeng Motor Group is responsible for Nissan's business in China, and has eight production plants with a total production capacity of about 1.6 million units. Japanese automakers are affected by sluggish sales, and Mitsubishi Motors decided to withdraw vehicle production from China in 2023. In May this year, Honda's Chinese joint venture, Guangqi Honda Motors, was looking for permanent employees who wanted to leave their jobs.
8
The return of the Boeing spacecraft to Earth faces challenges
After weeks of delays, Boeing managed to send NASA astronauts to the International Space Station. And using the same spaceship to get them back to Earth is another challenge. After the launch of Boeing's spacecraft Starliner with two astronauts in space, there was a leak and a thruster failure. The return of the spacecraft to Earth with two astronauts from the International Space Station was repeatedly postponed in order to fully assess whether the technical problems encountered had been resolved. A new date for the spacecraft's return to Earth has not yet been determined, and it will be July at the earliest. Mission managers are evaluating the possibility of a return trip to Earth after the space station completes its two spacewalk missions on 24 June and 2 July as planned.
RELATED: The Boeing Starliner carrying two U.S. astronauts was launched on June 5, flew to and docked with the International Space Station on June 6, and was scheduled to separate from the space station and return to Earth on June 14.
9
The opening and sales of Yonghui Fat Donglai Adjustment Store skyrocketed
Yonghui Supermarket's first Fat Donglai Adjustment Store resumed business on June 19 and was very popular. According to Yonghui Supermarket, as of the end of business hours that night, the sales of Yonghui Supermarket Zhengzhou Xinwan Plaza Store reached 1.88 million on the first day, about 13.9 times the average daily sales before the adjustment, and the daily passenger flow exceeded 12,000, about 5.3 times the average daily traffic before the adjustment, and the adjustment and reform achieved remarkable results. In terms of commodities, Yonghui reorganized the commodity structure, removed about 80% of the original commodities, and added more than 10,000 high-quality commodities according to the current consumer demand, and the combed commodity structure reached more than 90% of the commodity structure of Fat Donglai. After the change, the business hours will be temporarily adjusted to 9:30-19:00.
Related: After 19 days of store closure and adjustment, Yonghui Zhengzhou Xinwan Plaza store resumed normal business at 9:30 a.m. on June 19 after being "exploded" by Fat Donglai in terms of product structure and moving line layout. In terms of employee welfare, the salary of employees has been increased from 2,500 yuan/month to 4,500 yuan/month, the average working time does not exceed 8 hours per day, and the annual leave is increased, and 10 days of annual leave can be enjoyed after one year. Yu Donglai, the founder of Fat Donglai, said that as long as each store can operate normally, as long as it does not lose money, "I look forward to Yonghui will set sail again through this adjustment." ”
10. Bawang Chaji said that Chinese sales will surpass Starbucks
Zhang Junjie, the founder of Bawang Chaji, revealed that the average store sales of Bawang Chaji in the first quarter have surpassed all freshly made tea companies, and also surpassed Starbucks China. He said that the sales of Bawang Chaji China will surpass Starbucks China in 2024. In 2017, Bawang Chaji opened its first store in Kunming, and in 2023, it will achieve explosive growth, opening 2,316 stores, far exceeding the total number of stores opened in the previous three years. Bawang Chaji has more than 4,000 stores, including more than 100 overseas stores. According to media reports, Bawang Chaji will turn losses into profits in 2023, with a net profit of between 800 million and 1 billion yuan. Related: The market volume of tea and beauty is not as good as before, and the recent collective withdrawal of original shareholders has caused heated discussions in the market. The companies that divested this time are all investors in the angel round and strategic round before Chayan Yuese. The equity change is the withdrawal of the original shareholders and the repurchase of the founder team. According to the data, there are nearly 30 brand stores in the tea industry, and there are 7 stores with more than 5,000 stores. By comparison, as of June 10, there were 627 Chayan Yuese stores, of which 403 were located in the company's headquarters in Hunan. New tea beverage companies have successively lowered the threshold for joining in order to expand, but the tea is still "unhurried", and since the beginning of this year, the number of new stores opened is 104.
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