Post

Storage stocks played the "earnings beat expectations, stock price crashes" game again Let's start with SanDisk. Earnings revenue was 8.97 billion, beating the market expectation of 8.48 billion, and they also approved a 14 billion buyback authorization, totaling 15.5 billion in buybacks. Western Digital's revenue was 3.747 billion, also exceeding expectations. Normally, with such results in previous years, the stock price would have taken off directly, right? But SanDisk fell 15% after hours, and Western Digital dropped 11%. The reason is just one: the next quarter guidance midpoint is 10.55 billion, while Wall Street wanted 11.16 billion. A 600 million shortfall caused the stock price to collapse 15%. The key is that both companies have risen three to four times or more this year, and institutional holders have huge unrealized gains. Once the earnings report came out, even if it was just "not more than expected," they treated it as bad news to sell off. #存储股财报后下挫，AI内存牛市还稳吗？ Now look at SpaceX. With a 100 billion unlock, 911 million shares can be sold. The market previously unanimously shouted "it's going to crash," but it actually rose 6%, closing at 114.92. But looking closely, on Wednesday it dropped 14%, already having a round of sell-off. Whether it has truly bottomed or is a dead cat bounce, no one can say for sure. #财报观察员：解禁后反涨，SpaceX后续怎么看？ Then there's the Federal Reserve. ADP small nonfarm payrolls were 44,000, market expectation was 75,000, hitting a six-month low. But despite weak employment, the market's pricing of rate hike expectations is not so easily loosened because multiple Fed officials continue to emphasize high inflation risks and that they can't be led by single-month employment data. #联储鹰派信号升温，弱就业能否压过通胀？ Putting these three things together, the logic is very clear: good companies do not equal good stocks, good performance does not equal stock price increase. SanDisk's performance was good enough, right? #AIMemoryBullTest #FedHawksVsWeakJobs #SpaceXUnlockRebound