To The Moon

One of the strongest themes in U.S. software stocks this week came from cybersecurity. Following a U.S. government warning about critical PHP vulnerabilities, Palo Alto Networks climbed roughly 7%, Zscaler gained 7.8%, and CrowdStrike rose 5.2%. The Amplify Cybersecurity ETF advanced 3.2%, while First Trust’s cybersecurity ETF gained 2.7%. (CNBC) The immediate catalyst: two vulnerabilities dubbed “php2shell,” tracked as CVE-2026-109618 and CVE-2026-109619. PHP powers a large number of websites and web applications, including much of the WordPress and Drupal ecosystems. According to the U.S. Cybersecurity and Infrastructure Security Agency, or CISA, the flaws could allow unauthenticated attackers to execute code remotely and affect all PHP installations serving web requests. CISA urged orga

Hong Kong technology stocks accelerated their decline today. As of 10:57 a.m. HKT, the Hang Seng TECH Index was down 4.3% at 3,823, after touching an intraday low of 3,819. The index had already fallen below 4,000 in the previous session, while all 30 constituents traded lower at one point today. $TENCENT(00700)$Tencent fell below HK$400, with Alibaba, NetEase and several AI-related stocks also under significant pressure. (Hang Seng Indexes) It would be easy to describe this as another decline in risk appetite. The more important shift, however, is that investors are changing how they value Chinese technology companies: Previously, announcing higher AI investment was enough to support valuations. Now the market wants to know when

SpaceX delivered a blowout third-quarter report. Revenue reached $14.58 billion, up 161% year over year, while net income came in at $4.4 billion versus a $1.1 billion loss a year earlier. Shares jumped about 8% in after-hours trading. The biggest surprise was not rockets or Starlink. SpaceX’s Super Intelligence segment generated $7.56 billion in revenue, up 830% year over year. It has now surpassed Connectivity to become the company’s largest business. AI infrastructure, cloud services, Grok and Cursor are rapidly changing what SpaceX represents to investors. (SpaceX earnings release) During the earnings call, Elon Musk added another major catalyst: He said combining Tesla and SpaceX would be “a good idea.” Both companies have formed special committees to discuss a potential transaction,

The AI trade is facing one of its biggest tests yet. Last week, the Philadelphia Semiconductor Index fell roughly 11%, as investors grew increasingly concerned about AI infrastructure financing, elevated valuations and whether massive capital spending could eventually generate sufficient returns. Yet just as Wall Street begins questioning the economics of AI, Meta is preparing to report its Q3 earnings on October 21. And the company has already outlined an extraordinary spending plan: $130 billion to $145 billion in capital expenditures for 2026. That creates an interesting contradiction. AI infrastructure stocks are getting punished for spending too much, while Meta is preparing to defend one of the largest AI investment programs in the industry. So the real question going into earnings i

After nearly nine years of waiting, Tesla has finally unveiled its next-generation Roadster. And this time, it is not just another electric supercar. At an October 15 event in Texas, Tesla demonstrated a Roadster equipped with SpaceX-developed thruster technology, capable of briefly lifting off the ground, performing aerial maneuvers and even driving upside down using a specialized suction system. The company also showcased a 0–60 mph acceleration time of just 0.81 seconds and claimed a potential top speed exceeding 230 mph. Those are extraordinary numbers, although the demonstration results have not yet been independently verified for a production vehicle. The real question, however, is not whether Tesla has built a car that can briefly fly. It is why Elon Musk is promoting an extreme, hu

U.S. stocks showed a striking divergence in the latest trading session. The Nasdaq fell 1.88%, while the Philadelphia Semiconductor Index dropped 4.3%, marking its sixth consecutive daily decline. Oracle plunged nearly 9%, CoreWeave lost around 15%, and several AI infrastructure names remained under heavy pressure. Meanwhile, healthcare and consumer staples moved in the opposite direction, gaining approximately 2.4% and 2.1%, respectively, during the session. Traditional defensive names such as Procter & Gamble and Johnson & Johnson attracted renewed interest. On the same day AI stocks were being sold aggressively, companies selling everyday essentials and healthcare products were finding buyers. The interesting question is not simply why technology stocks fell. It is why investors

The U.S. midterm elections are just 20 days away, and Wall Street is starting to focus on a familiar question: If control of Congress changes, which sectors could face the biggest policy shifts? On November 3, Americans will elect all 435 members of the House of Representatives and roughly one-third of the Senate. Republicans currently control the White House and both chambers of Congress, but the elections could change that balance. For investors, the key is not simply whether Republicans or Democrats gain seats. It is how different congressional outcomes could affect financial regulation, crypto policy, energy investment, healthcare spending and AI infrastructure. Three scenarios are worth watching. Scenario 1: Republicans Retain Control of Both Chambers If Republicans maintain control o

Asian semiconductor stocks just experienced a sharp selloff, with SK hynix, Samsung and Kioxia coming under heavy pressure as investors reassessed future memory supply and pricing power. Now, ASML is set to report its Q3 earnings, offering another important signal about the future of the AI infrastructure cycle. The key question is not simply how much ASML earned this quarter, but whether chipmakers are still willing to spend heavily on capacity they may not need until 2027 or 2028. ASML's fundamentals remain strong. In Q2, the company reported €9.33 billion in revenue, a 54% gross margin and approximately €2.9 billion in net income. Management previously guided for Q3 revenue of €11 billion–€12 billion and gross margins of 55%–57%. Analysts surveyed by Visible Alpha expect roughly €11.71

Asian semiconductor stocks suffered a sharp selloff today. SK hynix dropped roughly 10%, Samsung Electronics fell 7.4%, South Korea’s KOSPI declined more than 5%, and Japan’s Kioxia also saw double-digit losses. What makes this interesting is that AI memory demand has not suddenly disappeared. Instead, investors are reacting to a potential shift in the global memory supply landscape, driven partly by a technological breakthrough from China. On October 12, Chinese memory manufacturer CXMT (ChangXin Memory Technologies) disclosed progress in its next-generation 4F² DRAM cell architecture, with plans to introduce server memory products using the technology by the end of this year. Compared with the industry’s mainstream 6F² structure, the new architecture could potentially increase memory den

U.S. stock indexes keep pushing toward new highs, but the number of stocks actually making money for investors may be much smaller than you think. According to Reuters, citing LSEG data on October 12, the S&P 500 has gained roughly 14% year to date, yet more than 200 of its constituents are still trading lower, with about a quarter down 11% or more. Even more striking, the median return among S&P 500 stocks is only around 4%. In other words, the index looks like it is enjoying a strong bull market, but investors who missed a handful of major winners may have significantly underperformed. The more interesting question is not whether the market has risen too much, but why so much of the rally is concentrated in AI and semiconductor stocks. SanDisk and Micron have each surged more tha